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

Author Question: A printed price of a manufacturer or wholesaler that is subject to trade discounts is called a. net ... (Read 143 times)

JGIBBSON

  • Hero Member
  • *****
  • Posts: 538
A printed price of a manufacturer or wholesaler that is subject to trade discounts is called
 a. net price.
   b. gross price.
   c. list price.
   d. retail price.

Question 2

David Justice Company incurred the following expenditures related to the purchase and use of a new building that will be used as the growing company's corporate headquarters in Toronto, Canada.
 
  Required: Put an X in the appropriate box to indicate which expenditures should be capitalized and which should be expensed:
 
   Expenditure Capitalize Expense
  560,000 spent for building materials (wood & brick)
  256,000 spent for labor costs
  78,000 architect's fee
  80,000 rent for equipment used in the construction
  52,000 annual utilities costs to operate the building
  (in use on Feb 8)
 
  90 cost to fix a broken window (June 3)
  230 cost to clean a stained rug
  3,900 annual janitorial costs to keep the building clean

Question 3

When an account receivable that has been written off is subsequently collected, the account receivable must firstbe reinstated before recording the receipt of payment.
 a. True
  b. False
 
   Indicate whether the statement is true or false



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

krakiolit

  • Sr. Member
  • ****
  • Posts: 318
Answer to Question 1

c

Answer to Question 2

Expenditure Capitalize Expense
560,000 spent for building materials (wood & brick) X
256,000 spent for labor costs X
78,000 architect's fee X
80,000 rent for equipment used in the construction X
52,000 annual utilities costs to operate the building
(in use on Feb 8)
X
90 cost to fix a broken window (June 3) X
230 cost to clean a stained rug X
3,900 annual janitorial costs to keep the building clean X

Answer to Question 3

True




JGIBBSON

  • Member
  • Posts: 538
Reply 2 on: Jul 5, 2018
Great answer, keep it coming :)


coreycathey

  • Member
  • Posts: 333
Reply 3 on: Yesterday
Wow, this really help

 

Did you know?

Malaria was not eliminated in the United States until 1951. The term eliminated means that no new cases arise in a country for 3 years.

Did you know?

To combat osteoporosis, changes in lifestyle and diet are recommended. At-risk patients should include 1,200 to 1,500 mg of calcium daily either via dietary means or with supplements.

Did you know?

In ancient Rome, many of the richer people in the population had lead-induced gout. The reason for this is unclear. Lead poisoning has also been linked to madness.

Did you know?

Pubic lice (crabs) are usually spread through sexual contact. You cannot catch them by using a public toilet.

Did you know?

Normal urine is sterile. It contains fluids, salts, and waste products. It is free of bacteria, viruses, and fungi.

For a complete list of videos, visit our video library