This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Emma Co sold to Isabella Co merchandise on account FOB shipping point, 2/10, net 30, for 15,000 . ... (Read 43 times)

Yi-Chen

  • Hero Member
  • *****
  • Posts: 550
on: Jul 5, 2018
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
Reply #1 on: Jul 5, 2018
Answer to Question 1

b

Answer to Question 2

D


Yi-Chen

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

EAN94

  • Member
  • Posts: 307
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

Patients who have undergone chemotherapy for the treatment of cancer often complain of a lack of mental focus; memory loss; and a general diminution in abilities such as multitasking, attention span, and general mental agility.

Did you know?

More than 4.4billion prescriptions were dispensed within the United States in 2016.

Did you know?

Astigmatism is the most common vision problem. It may accompany nearsightedness or farsightedness. It is usually caused by an irregularly shaped cornea, but sometimes it is the result of an irregularly shaped lens. Either type can be corrected by eyeglasses, contact lenses, or refractive surgery.

Did you know?

On average, someone in the United States has a stroke about every 40 seconds. This is about 795,000 people per year.

Did you know?

There are immediate benefits of chiropractic adjustments that are visible via magnetic resonance imaging (MRI). It shows that spinal manipulation therapy is effective in decreasing pain and increasing the gaps between the vertebrae, reducing pressure that leads to pain.

The left-hand rule states that if a coil is grasped with the left hand, the fingers will point in ... The left-hand rule states that if a coil is grasped with the left hand, the fingers will point in ...
Common trigger point locations, anterior and posterior. Common trigger point locations, anterior and posterior.
Buildings account for 15% of greenhouse gas emissions Buildings account for 15% of greenhouse gas emissions
Set-Point Theory Set-Point Theory
Find an equation of the tangent line to the graph of f(x) = sqrt(x) / (x+1) at the point x=1 Find an equation of the tangent line to the graph of f(x) = sqrt(x) / (x+1) at the point x=1
Constructing a Three-Point Recombination Map Constructing a Three-Point Recombination Map
Video: What is Reverse Osmosis?

For a complete list of videos, visit our video library