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You are watching: After a supplier of merchandise is selected, the purchasing department issues a form called

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Transcribed photo text: YULLVEI PUIS When the sales department needs merchandise, it sends out the purchasing department a form called O a purchase invoice. a purchase order. O a purchase requisition. a sales invoice. Question 2 (1 point) After a seller (supplier) of merchandise is selected, the purchasing department concerns a kind referred to as a purchase invoice O a purchase order a sales invoice a purchase requisition Freight charges, passist by the buyer on merchandise purchases must be debited to the Purchases account the Freight-In account the Accounts Payable account the vendor's (suppliers) account in the subsidiary ledger Question 6 (1 point) Crmodify regards to 2/10, n/30 are interpreted as O A) 10% discount if phelp within 2 days; otherwise the complete balance due in 30 days OB) 2% discount if paid within 30 days; otherwise the total balance is due in 30 days OC) 2% discount if passist within 10 days; otherwise the full balance is due in 10 days D) 2% discount if paid within 10 days; otherwise the complete balance is due in 30 days Question 7 (1 point) The entry to document a purchase of merchandise on credit contains O a delittle to Purchases and a credit to Accounts Receivable a debit to Accounts Receivable and also a credit to Purchases a delittle bit to Purchases and also a credit to Accounts Payable N a debit to Accounts Payable and a credit to Purchases Question 8 (1 point) The enattempt to record a return of merchandise purchased on credit consists of a debit to Purchase Returns & Allowances and also a credit to Accounts Receivable a delittle to Acquisition Retransforms & Allowances and also a credit to Purchases a debit to Accounts Payable and a credit to Purchase Retransforms & Allowances a delittle to Purchases and a credit to Purchase Retransforms & Allowances Inquiry 7 11 point) The entry to record the payment of a purchase invoice when a cash discount is taken consists of a delittle bit to Accounts Payable, a credit to Acquisition Discounts and a crmodify to Cash a delittle bit to Accounts Payable, a delittle to Purchase Discounts and a credit to Cash a delittle to Accounts Payable and a credit to Cash a delittle bit to Purchases, a crmodify to Acquisition Discounts and a crmodify to Cash Inquiry 10 (1 point) A firm has purchases of $16,200, freight charges of $300, and also purchase retransforms and allowances of $1,100 in the time of the duration. The net ceded expense of purchases was $15,400 $17.600 $16,600 $14,800 Inquiry 1 (1 point) Saved When the sales department needs merchandise, it sends the purchasing department a kind called O a purchase invoice. O a purchase order. O a purchase requisition. O a sales invoice Question 2 (1 point) After a merchant (supplier) of merchandise is selected, the purchasing department problems a type dubbed O a purchase invoice O a purchase order O a sales invoice O a purchase requisition Question 3 (1 point) The Purchases account is OA) a long-term account. OB) a short-term account O C) an asset account. O D) a licapacity account. Concern 4 (1 point) Assuming a regular inventory device is offered, the expense of merchadise purchased for resale is OA) debited to Merchandise Inventory. OB) attributed to Merchandise Inventory. C) debited to Purchases. OD) attributed to Purchases. Inquiry 5 (1 point) Freight charges, passist by the buyer on merchandise purchases need to be debited to the Purchases account the Freight-In account the Accounts Payable account the vendor's (suppliers) account in the subsidiary ledger Inquiry 6 (1 point) Credit terms of 2/10, n/30 are taken as OA) 10% discount if passist within 2 days; otherwise the complete balance due in 30 days O B) 2% discount if passist within 30 days; otherwise the complete balance is due in 30 days C) 2% discount if passist within 10 days; otherwise the full balance is due in 10 days O D) 2% discount if passist within 10 days; otherwise the total balance is due in 30 days Inquiry 7 (1 point) The entry to record a purchase of merchandise on credit has a delittle bit to Purchases and a crmodify to Accounts Receivable O a delittle bit to Accounts Receivable and also a credit to Purchases a delittle bit to Purchases and also a credit to Accounts Payable a delittle to Accounts Payable and a credit to Purchases Inquiry 8 (1 point) The entry to document a rerotate of merchandise purchased on credit has O a delittle bit to Acquisition Returns & Allowances and a credit to Accounts Receivable O a debit to Purchase Returns & Allowances and a crmodify to Purchases a delittle bit to Accounts Payable and also a credit to Acquisition Retransforms & Allowances a delittle to Purchases and also a credit to Acquisition Returns & Allowances Inquiry 9 (1 point) The enattempt to document the payment of a purchase invoice as soon as a cash discount is taken has a delittle to Accounts Payable, a crmodify to Purchase Discounts and also a credit to Cash a delittle bit to Accounts Payable, a debit to Acquisition Discounts and also a crmodify to Cash a delittle bit to Accounts Payable and a crmodify to Cash a debit to Purchases, a crmodify to Purchase Discounts and a credit to Cash Inquiry 10 (1 point) A company has actually purchases of $16,200, freight charges of $300, and also purchase returns and allowances of $1,100 throughout the period. The net delivered price of purchases was $15,400 $17,600 $16,600 O$14,800 Inquiry 11 (1 point) Nadel Inc. purchased $1,800 of merchandise on credit on December 5th. On December 7th, it reverted $200 worth of merchandise. On December 8th, Nadel phelp the balance in full, taking a cash discount of 2%. What is the amount of the cash payment by Nadel on December 8th? $1,600.00 O$,1800.00 $1,564.00 $1,568.00 Question 12 (1 point) The total price of merchandise purchased for a duration is presented in O A) the Liabilities area of the Balance Sheet. OB) the Revenue area of the Income Statement. OC) the Cost of Goods Sold section of the Income Statement. D) the Operating Expense area of the Income Statement. Inquiry 13 (1 point) A profession discount is a reduction in price for prompt payment a reduction in price from the list or catalog price the net price passist after discounts also referred to as a rebate Inquiry 14 (1 point) Which of the complying with statements is correct? OA) A cash discount indicates the same as a profession discount. OB) Freight charges and also Acquisition Returns & Allowances are deducted from Purchases in computing the Net Delivered Cost of Purchases. OC) The Purchase account is reported as an ascollection on the balance sheet. O D ) Acquisition discounts is as a contra-cost/contra-price account. Concern 15 (1 point) In the Accounts Payable Subsidiary Ledger for ABC Co., a vendor's account had a $1,600 start balance.

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Throughout the month, ABC purchased merchandise from the merchant totaling $1,200 and also made payments on account of $500. What is the balance of the vendor's account at the finish of the month? $900 crmodify $900 delittle $2,300 crmodify $2,300 debit