Fob shipping point question and answer
WebSep 23, 2024 · With the FOB shipping point, the buyer takes the responsibility for lost or damaged goods and freight. Under the FOB destination — it’s the seller’s responsibility. … WebIf required, round the answers to the nearest dollar. a. S b. S EXT OF ANG Merchandise $8,350 3,900 8,783 X 3,861 X Maps Feedback Chark 3 Minule x C Freight Paid by Seller R1001-PC-240- $600 lo 400 Freight Terms FOB shipping point, 2/10, n/30 FOB …
Fob shipping point question and answer
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WebNov 15, 2024 · Question thumb_up 100% On November 15, 20x1, Lemon Co. ordered merchandise, on an FOB Shipping point term, from a foreign entity for 200,000 marks. The merchadise was shipped and invoiced to Lemon on December 10,20x1. Lemon paid the invoice on January 10, 20x2. The spot rates are as follows: Nov 15, 20x1 22.4955 …
WebFOB stands for free onboard. Free on Board is the shipping cost that the buyer or the selling incurs when transferring the goods. Every time there is a sale of goods, there … WebNov 10, 2024 · FOB shipping point is a term used in the transportation industry to indicate who is responsible for the costs associated with the shipment of goods. For …
WebNet Income Impact: Sold merchandise to Art Co. for $1,200 under credit terms of 2/15, n/60, FOB shipping point, invoice dated July 19. Decreases $800 Net Income Impact: The … WebQuestion: Merchandise subject to terms 2/10, n/30, FOB shipping point, is sold on account to a customer for $20,700. What is the amount of sales discount allowable? a.$211 b.$148 c.$202 d.$414 Merchandise subject to terms 2/10, n/30, FOB shipping point, is sold on account to a customer for $20,700.
WebQ: Merchandise subject to terms 1/10, n/30, FOB shipping point is sold on account to a customer for… A: Net sales = sales - credit memorandum = 15000 - 5000 = P10000 Q: A wholesaler sold merchandise inventory with in invoice price RO 160,000 to the customer of business… A: Formula: Cash discount: Goods sold on credit base.
WebFOB shipping point Question 1/ Which of the following feature/s related to FOB shipping point under shipping terms, except? a. Title and control of the goods the moment the carrier signs the bill of lading with the buyer b. Buyer assumes risk of transportation and is entitled to route the shipment c. philippines price hikeWebA car dealer acquires a used car for $17,000, with terms FOB shipping point. Compute total inventory costs assigned to the use additional costs include . $200 for transportation-in. $180 for shipping insurance. • $750 for car import duties. . $170 for advertising. $2,000 for sales staff salaries. $100 for trimming shrubs. philippines president candidate 2022Webfob shipping point Using a perpetual inventory system, the entry to record the purchase of $30,000 of merchandise on account would include a debit to inventory On September 4, Real Housewares has $16,500 in sales, with customers paying $10,750 in cash and the remainder on account. Real Housewares purchased the goods for $4,800. philippines prices on foodWebUnder FOB shipping point, freight is paid by the buyer, while under FOB destination freight is the seller's expense. To determine the amount, first deduct the return before calculating the discount. Then calculate (Purchase - Return - Discount) + applicable freight. philippines primary source of energyWebQuestions and Answers from Chegg can be a difficult subject for many students, but luckily we’re here to help. Our question and answer board features hundreds of experts waiting to provide answers to your questions. You can ask any question and get expert answers in as little as two hours. philippines primary idsWebThe terms were FOB shipping point. Costs incurred by the entity in connection with the purchase and delivery of the goods were as follows: Normal freight charge ₱ 3,000 Handling cost ₱ 2,000 Insurance on shipment ₱ 500 Abnormal freight charge for express shipping ₱ 1,200 The goods were received on December 18, 2024. philippines primary and secondary idWebTranscribed Image Text: A car dealer acquires a used car for $17,000, with terms FOB shipping point. Compute total inventory costs assigned to the used car if additional … philippines primary health care