[最も選択された] terms 2/10 n/30 fob shipping point $36 000 214743-Terms 2/10 n/30 fob shipping point $36 000

A company purchased inventory for $ 2 comma 000 from a vendor on account, FOB shipping point, with terms of 2 /10, n/30 The company paid the shipper $ 0 cash for freight in The company then returned damaged goods worth $ 400 The invoice was then paid eight days after the invoice dateNov 04, 19A business sells goods to a buyer with the terms FOB shipping point freight prepaid The value of the goods is 5,000 and the settlement terms are 2/10, n/30 The freight cost from the shipping point to the buyers destination is 700 The seller prepays the freight expense1 Answer to Shore Co sold merchandise to Blue Star Co on account, $112,000, terms FOB shipping point, 2/10, n/30 The cost of the goods sold is $67,0 Shore Co paid freight of $1,800 Journalize the entries for Shore and Blue Star for the sale, purchase, and payment of amount due Refer to

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Terms 2/10 n/30 fob shipping point $36 000-May 10, 17What is FOB Shipping Point?A $700 b $350 c $860 d $540

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You can't determine who pays for shipping (freight) costs unless you understand the shipping terms FOB Shipping Point and FOB DestinationThis video explainsThe term free on board (FOB shipping point) should be indicated and identified by the specified physical location This enables all parties to know exactly when the responsibility for freight charges is passed from the seller to the buyer Sometimes, the FOB shipping point, terms and the origin and destination points are qualified by modifiersApr 30, 192 Swan Company sold merchandise on account to Bird Company, $32,000, terms FOB shipping point, 2/10, n/30 Swan Company paid freight of $330, which was added to the invoice The cost of the merchandise sold was $19,0

Definition FOB shipping point, also called free on board shipping, is a set of delivery terms that transfers the title of goods to the buyer when the shipment is placed on the truck for deliveryIt also indicates that the buyer is required to pay for the shipping costs In other words, it sets the shipment terms by naming who pays the freight costs and identifying when the seller transfersA $260 b $500 c $460 d $150 b $500 Generally, the revenue account for a merchandising business is entitled aMerchandise subject to terms 2/10, n/30, FOB shipping point, is sold on account to a customer for $25,000 What is the amount of sales discount allowable?

Mar 18, 09The terms were FOB shipping point 2/10 n/30Michelin paid the transportation cost of $10 &May 14, 131 Paid rent for July, $4,000 3 Purchased merchandise on account from Lingard Co, terms 2/10, n/30, FOB shipping point, $25,000 4 Paid freight on purchase of July 3, $1,000 6 Sold merchandise on account to Holt Co, terms 2/10, n/30, FOB shipping point, $40,000 The cost of the merchandise sold was $24,000 7 Received $18,000 cash from Flatt Co on account,The term FOB shipping point is a contraction of the term Free on Board Shipping Point The term means that the buyer takes delivery of goods being shipped to it by a supplier once the goods leave the supplier's shipping dock Since the buyer takes ownership at the point of departure from the supplier's shipping dock, the supplier should record a sale at that point

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Paid rent for May, $5000 3 Purchased merchandise on account from Martin Co, terms 2/10,n/30, FOB shipping point $ 4 Paid freight on purchase of May 3 $600 6 Sold merchandise on account to Korman Co, terms 2/10, 1/30, FOB shipping point, $ The cost of the goods sold was $41,000 7 Received $ cash from Halstad Co on account 10Purchased merchandise on account from Martin Co, terms 2/10, n/30, FOB shipping point, $36,000 4 Paid freight on purchase of May 3, $600 6 Sold merchandise on account to Korman Co, terms 2/10, n/30, FOB shipping point, $68,500 The cost of the merchandise sold was $41,000 7 Received $22,300 cash from Halstad Co on account 10Purchased merchandise on account from Floyd Co, $4,000, terms FOB shipping point, 2/10, n/30, with prepaid transportation costs of $1 added to the invoice 5 Purchased merchandise on account from Kramer Co, $8,500, terms FOB destination, 1/10, n/30

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Purchased merchandise on account from Martin Co, terms 2/10, n/30, FOB shipping point, $36,000 4 Paid freight on purchase of May 3, $600 6 Sold merchandise account to Korman Co, terms 2/10Mar 12, 062/10, N/30 are terms for an invoice So say you purchased a items that total $ 2/10= 2% discount if invoice paid within 10 days Now, you will receive a 2% discount off the $ if you pay within 10 days So say you do pay within the 10 day period, you will only owe =*April 4Michelin returned $3400 of defective merchandise from the April 2 purchase * April 5 Michelin sold $9000 of merchandise on accountThe terms were FOB shipping point, 3/15 n/30Michelin´s cost for the merchandise sold was $5500

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Nov 22, 08Merchandise with a list price of $3,800 and costing $2,000 is sold on account, subject to the following terms FOB destination, 2/10, n/30 The seller prepays the transportaton cost of $50 *April 2Michelin purchased merchandise for 000 The terms were FOB shipping point 2/10 n/30MiJul 09, 09A Physical inventory count shows the company has 7,922 of inventory on hand at may 31, 08 May 1 Purchased 1 tool set for resale from lathrop wholesale supply CO for $5,800, terms 2/10, n/30 FOB shipping point 3 The correct company paid $0 cash for freight charges on May 1 merchandise purchase 4 Sold 3 of the tool sets on acout for $2,250, terms 2/10, n/30, FOBFeb 21, 11Below is a list of transactions for the Lerin Bookstore for the month of March 01 Mar 2 Purchased merchandise on credit from Diego Publishers, terms 2/10, n/30, FOB destination, P74,000 3 Sold merchandise on credit to Detoya Books Shop, terms 1/10, n/30, FOB shipping point, P10,000 5 Sold merchandise for cash P7,000

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9 Bought merchandise from NOA Company, P,000 Terms 2/10, n/30 FOB Shipping point 9 Paid freight for the above merchandise, P 300 10 Account purchases from Lilet P 15,000 2/10, n/30Marble Company purchased a machine costing $127,000, terms 2/10, n/30 The machine was shipped FOB shipping point and freight charges were $2,700 The machine requires special mounting and wiringFOB DEFINITION SHIPPING TERMS OF SALE FOB, Free On Board, is a transportation term that indicates that the price for goods includes delivery at the Seller's expense to a specified point and no further The FOB term is used with an identified physical location to determine 1) the responsibility and basis for payment of freight charges, and 2

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TROJAN LIVESTOCK The new system turns the shipping container (55gallon drum) into a P0 Box 453 500pound lickwheel feeder in WEATHERFORD, OK Plant Office 405/ seconds Refills can be shipped with refill nozzle to areas where there is no 36 / THE FLORIDA CATTLEMAN / OCTOBER 1984 X Dooms Day to WeedsFOB SHIPPING POINT (ORIGIN) Implies that the buyer assumes title and owns the goods in transit, pays the freight bill and handles any necessary claims for loss or damage Ownership changes when items are shipped FOB Shipping Point, Freight AllowedAn FOB shipping point agreement is signed and the container is handed off to the freight carrier at the shipping point If sending the container to the US costs $1000, Claire's Comb Company is responsible for paying that sum in full in order to get the goods

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Nov 1 – Dollar Store purchases merchandise for $2,100 on terms of 2/5, n/30, FOB shipping point, invoice dated November 1 Nov 5 – Dollar Store pays cash for the November 1 purchase Nov 7 – Dollar Store discovers and returns $250 of defective merchandise purchased on November 1, and paid for on November 5, for a cash refundOn May 4, Hanlon purchased $30,000 of merchandise with credit terms of 2/10, n30 and shipping terms FOB Destination on May 21, Hanlon purchased $,000 of merchandise for cash with shipping terms FOB Shipping Point The required journal entries for Hanlon areTerms in this set (15) May 3 Purchased merchandise on account from Floyd Co, $4,000, terms FOB shipping point, 2/10, n/30, with prepaid freight of $1 added to the invoice

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Erchandise subject to terms 2/10, n/30, FOB shipping point, is sold on account to a customer for $35,000 The seller issued a credit memorandum for $8,000 prior to payment What is the amount of the cash discount allowable?Oct 15, 19Merchandise is sold on account to a customer for $24,000, terms FOB shipping point, 2/10, n/30 The seller paid the freight of $425 Determine the following (a) amount of the sale, (b) amount debited to Accounts Receivable, (c) amount of the discount for early payment, and (d) amount due within the discount periodPurchased golf discs, bags, and other inventory on account from Mumford Co $1,0, FOB shipping point, terms 2/10, n/30 7 Paid freight on the Mumford purchase $50 9 Received credit from Mumford Co for merchandise returned $100 10 Sold merchandise on account for $900, terms n/30the merchandise sold had a cost of $540 12

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Mar 09, 1310 Purchased merchandise from Digao Publishers, terms 2/10, n/30, FOB shipping point, P26,500, including freight costs of P500 Dr MI P26,500 Cr AP P26,500 (assuming P500 is inside P26,500, otherwise, use P27,000) 11 Received freight bill from Super express for sale on Mar 9, P291 Dr Transportationout (or delivery expenses) P291 Cr AP P291Terms were 2/10 FOB Assuming Mel pays on October 2, Math You've received an invoice for 3,000$ with terms of 3/10,1/,n/30 how much wld you have to pay if payed in 12days Math Jason received an invoice for $5,000, and the invoice was dated on August 26 with terms of 2/10A sales invoice for $5,000, terms 1/10, n/30, FOB shipping point, is paid within the discount period Transportation costs of $75 are paid and added to

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Dec 14, 17Paid rent for May, S5,000 3 Purchased merchandise on account from Martin Co, terms 2/10, n/30, FoB shipping point, $ A Paid freight on purchase of May 3, S600 shipping 6 Sold merchandise on account to Korman Co, terms 2 10, n/50 FoB point, $68,500On June 10, Diaz Company purchased $8,000 of merchandise from Taylor Company, FOB shipping point, terms 2/10, n/30 Diaz pays the freight costs of $400 on June 11 Damaged goodsThe credit terms were 2/10, n/30 Journalize the entries to record the purchase and payment B Merchandise with a list price of P4,700 is purchased on account, terms FOB shipping point 1/10, n/30 The seller prepaid transportation costs of P0 Prior to payment, P1,500 of the merchandise is returned The correct amount is paid within the discount period

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19 Sold merchandise to Tux Co for $5,400 under credit terms of 1/10, n/30, FOB shipping point, invoice dated August 19 The merchandise had cost $3,748 22 Tux requested a price reduction on the August 19 sale because the merchandise did not meet specifications Sheng sent Tux a $900 credit memorandum to resolve the issueMar 23, The overarching idea is that free on board (FOB) is a shipping term indicating who (buyer or seller) is responsible for goods that are damaged, lost or destroyed during shipping It indicates who "owns" the goods during transit, when that ownership changes, and who pays for the shipping, associated fees, and other freight chargesNov 04, 19At the buyers destination, the buyer has not yet incurred any freight but owes the seller for the goods FOB Shipping Point Accounting FOB shipping point or FOB origin, is used to mean the seller has to get the goods to the shipping point, but the buyer is responsible for the expense of transporting the goods from the shipping point to their destination

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Terms of the purchase are 2/15, n/40, FOB Shipping Point, invoice dated December 6 Dec 10 Wall World sells $3,590 worth of merchandise to a customer, who pays on credit The merchandise has a cost to Wall World of $1,400 Shipping charges are an extra $115 cash Terms of the sale are 4/10, n/30, FOB Destination, invoice dated December 108 Paid Rent for the month, P7,000 9 Sold merchandise on credit to Recoletos Books, terms 1/10, n/30 FOB destination, P38,000 10 Purchased merchandise from Digao Publishers, terms 2/10, n/30, FOB shipping point, P26,500, including freight costs of P500 11 Received freight bill from Super Express for sale on March 9, P291The credit terms offered by the seller are 2/10, n/30 Therefore the total cost of the inventory purchased is $800 purchase price Merchandise Inventory 800 A/P 800 $0 of merchandise purchased is returned prior to payment A/P 0 Merchandise Inventory 0 When the invoice is paid within the discount period assuming credit terms of 2/10, n/30

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The FOB (free on board) destination point is a shipping term that refers to the sale of goods that would take place once a product reaches a buyer's destination This differs from the FOB shipping point in that the seller may be responsible for the shipping costs and any liabilities regarding the product for as long as those products remain in

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Incoming Term: terms 2/10 n/30 fob shipping point $36 000,