This topic contains a solution. Click here to go to the answer

Author Question: Emma Co sold to Isabella Co merchandise on account FOB shipping point, 2/10, net 30, for 15,000 . ... (Read 70 times)

Yi-Chen

  • Hero Member
  • *****
  • Posts: 550
Emma Co sold to Isabella Co merchandise on account FOB shipping point, 2/10, net 30, for 15,000 . Emma Co prepaid the 750 shipping charge. Using the perpetual inventory method, which of the following entries will Isabella Co make to record payment of the merchandise if Isabella Co pays within the discount period?
 a. Accounts PayableEmma Co., debit 15,000 Cash, credit 15,000
  b. Accounts PayableEmma Co., debit 15,450 Cash, credit 15,450
  c. Accounts PayableEmma Co., debit 15,000 Freight In, debit 750 Cash, credit 15,750
  d. Accounts PayableEmma Co., debit 15,750 Merchandise Inventory, debit 300 Cash, credit 16,050

Question 2

The ERM framework addresses four categories of management objectives. Which category concerns high-level goals, aligned with and supporting its mission?
 a. compliance
  b. operations
  c. reporting
  d. strategic



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

akudia

  • Sr. Member
  • ****
  • Posts: 347
Answer to Question 1

b

Answer to Question 2

D




Yi-Chen

  • Member
  • Posts: 550
Reply 2 on: Jul 5, 2018
Gracias!


aliotak

  • Member
  • Posts: 326
Reply 3 on: Yesterday
Great answer, keep it coming :)

 

Did you know?

The first war in which wide-scale use of anesthetics occurred was the Civil War, and 80% of all wounds were in the extremities.

Did you know?

Cytomegalovirus affects nearly the same amount of newborns every year as Down syndrome.

Did you know?

Urine turns bright yellow if larger than normal amounts of certain substances are consumed; one of these substances is asparagus.

Did you know?

The effects of organophosphate poisoning are referred to by using the abbreviations “SLUD” or “SLUDGE,” It stands for: salivation, lacrimation, urination, defecation, GI upset, and emesis.

Did you know?

Cancer has been around as long as humankind, but only in the second half of the twentieth century did the number of cancer cases explode.

For a complete list of videos, visit our video library