FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

On April 1, 2017 Achilles Company sells inventory on account for a sales price of 16,000 with terms 2/15, n/30. Achilles records cost of goods

image text in transcribed
On April 1, 2017 Achilles Company sells inventory on account for a sales price of 16,000 with terms 2/15, n/30. Achilles records cost of goods sold of 11,000 associated with the sale. The customer pays cash for the inventory on April 8. Assuming no other sales took place during April, what is Achilles Company's Net Sales Revenue for April 2017? O 16.000 O 15.680 5.000 4,680

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Accounting

Managerial Accounting

Authors: Stacey Whitecotton

1st Edition

0697799271, 978-0697799272

More Books

Students also viewed these Accounting questions

Question

★★★★★
Consider the following reaction run at standard conditions: Al(s) + Fe2+(aq) Fe(s) +Al3+(aq) a. Calculate the standard cell potential for this cell from standard free energies of formation (see...

Answered: 1 week ago

Question

★★★★★
Which of the following is a desirable characteristic in an economy? Select one: a. population growing faster than output O b. rapid increase in the general price level O c. population growing the...

Answered: 1 week ago

Question

★★★★★
One way to change behavior is to reward natural behaviors in small steps, as they get closer and closer to a desired behavior. This process is called .

Answered: 1 week ago

Question

★★★★★
CZ Jewelry Company reported the following summarized balance sheet at December 31, 2014: Assets Current assets......................................................................... $ 61,000...

Answered: 1 week ago

Question

★★★★★
On April 1, 2017 Achilles Company sells inventory on account for a sales price of 16,000 with terms 2/15, n/30. Achilles records cost of goods sold of 11,000 associated with the sale. The customer...

Answered: 1 week ago

Question

★★★★★
Nokela Industries purchases a $37.6 million cyclo-converter. The cyclo-converter will be depreciated by $9.4 million per year over four years, starting this year. Suppose Nokela's tax rate is 40%. a....

Answered: 1 week ago

Question

★★★★★
Saved Help Save & Exit Problem 9-11A Partial year's depreciation; revising depreciation rates LO1, 2, 4 NeverLate Ltd. completed the following transactions involving delivery trucks: Dec. 2023 26...

Answered: 1 week ago

Question

★★★★★
While James Craig and his former classmate Paul Dolittle both studied accounting at school, they ended up pursuing careers in professional cake decorating. Their company, Good to Eat (GTE),...

Answered: 1 week ago

Question

★★★★★
8. Activity Based Costing Problem II - Show your work [50 points] Scott, Inc., manufactures two products, Regular and Deluxe, and applies overhead on the basis of direct labor hours. Anticipated...

Answered: 1 week ago

Question

★★★★★
Book Problem 9-8A PPE costs; partial year's depreciation; alternative methods LO1, 2, 3 Logic Co. recently negotiated a lump-sum purchase of several assets from a company that was going out of...

Answered: 1 week ago

Question

★★★★★
Required information [The following information applies to the questions displayed below.) Summary information from the financial statements of two companies competing in the same industry follows....

Answered: 1 week ago

Question

★★★★★
6. How might the team seek additional information from the community?

Answered: 1 week ago

Question

★★★★★
4. Who would lead the group?

Answered: 1 week ago

Question

★★★★★
Were the team members dependable? If not, how were they held accountable?

Answered: 1 week ago

Previous Question Next Question