The due date for payroll taxes is the last day of each fiscal ...

[nummyann]

The due date for payroll taxes is the last day of each fiscal quarter: March 31, June 30, September 30, and December 31.
 a. True
   b. False
   Indicate whether the statement is true or false

Question 2

Idaho Company made the following purchases during the month of October.
 
  October 6 Purchased 15,000 of merchandise, terms 2/10, n/30, FOB destination, freight cost 100
  October 14 Purchased 12,000 of merchandise, terms 2/15, n/60, FOB shipping point, freight cost 100
  October 22 Purchased 18,000 of merchandise, terms 3/10, n/20, FOB destination, freight cost 100
  October 31 Purchased 20,000 of merchandise, terms 1/15, n/45, FOB shipping point, freight cost 100
 
  Required:
  1. Complete the chart below for each of the four purchases.
 
   Oct. 6 Oct. 14 Oct. 22 Oct. 31
  a. due date, assuming the
  discount is taken
  b. last day to pay if the
  discount is NOT taken
  c. amount of discount    
  d. freight cost paid by
  Idaho Company
   
   
   
 
 
  2. Assuming that the selling company accepts all discounts, what is the total cost of purchases for the month?

[akemokai]

Answer to Question 1

False

Answer to Question 2

1.
Oct. 6 Oct. 14 Oct. 22 Oct. 31
a. Oct. 16 Oct. 29 Nov. 1 Nov. 15
b. Nov. 5 Dec. 13 Nov. 11 Dec. 15
c. 300 240 540 200
d. 0 100 0 100

2. 63,920 = (15,000-300) + (12,000-240 + 100) + (18,000540) + (20,000-200 + 100

[nummyann]

Thanks for the timely response, appreciate it

[mcarey591]

Excellent