{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-05-27T00:12:27-04:00", "answer_date": "2024-05-27 00:12:27", "is_docs_available": "", "is_excel_available": "", "is_pdf_available": "", "count_file_available": 0, "main_page": "student_question_view", "question_id": "1768037", "url": "\/study-help\/questions\/question-1-zenith-trading-establishment-imports-mobility-aids-for-distribution-1768037", "question_creation_date_js": "2024-05-27T00:12:27-04:00", "question_creation_date": "May 27, 2024 12:12 AM", "meta_title": "[Solved] Question 1 Zenith Trading Establishment i | SolutionInn", "meta_description": "Answer of - Question 1 Zenith Trading Establishment imports Mobility Aids for distribution to the local retail sector. During the | SolutionInn", "meta_keywords": "question,1,zenith,trading,establishment,imports,mobility,aids,distribution,local,retail,sector", "question_title_h1": " Question 1 Zenith Trading Establishment imports Mobility Aids for distribution to the local retail sector. During the year, January to December 2020, the company", "question_title": " Question 1 Zenith Trading Establishment imports Mobility Aids for distribution to", "question_title_for_js_snippet": "Question 1 Zenith Trading Establishment imports Mobility Aids for distribution to the local retail sector During the year, January to December 2020, the company incurred following expenses List price of purchase of mobility aids Trade discounts on purchase Handling costs relating to imports Salaries of accounting department Sales commission paid to sales agents After sales warranty costs Import duties Freight expense Insurance of purchases Brokerage commission paid to indenting agents $250,000 5 $5,000 $72,000 $36,000 $5,000 $10,800 $12,000 $7,500 $5,000 Zenith Trading Establishment bought these items on 1 April 2020 on credit terms which the company eligible for a 2 cash discount when the invoice was settled on 27 April 2020 Required A Calculate the total cost for purchases of the mobility aids (4 marks) B Explain the rationale for the treatment of each item of cost incurred (6 marks)", "question_description": "\"image", "transcribed_text": "Question 1 Zenith Trading Establishment imports Mobility Aids for distribution to the local retail sector. During the year, January to December 2020, the company incurred following expenses: List price of purchase of mobility aids Trade discounts on purchase Handling costs relating to imports Salaries of accounting department Sales commission paid to sales agents After sales warranty costs Import duties Freight expense Insurance of purchases Brokerage commission paid to indenting agents $250,000 5% $5,000 $72,000 $36,000 $5,000 $10,800 $12,000 $7,500 $5,000 Zenith Trading Establishment bought these items on 1 April 2020 on credit terms which the company eligible for a 2 % cash discount when the invoice was settled on 27 April 2020. Required: A. Calculate the total cost for purchases of the mobility aids. (4 marks) B. Explain the rationale for the treatment of each item of cost incurred. (6 marks)", "related_book": { "title": "Accounting for Governmental and Nonprofit Entities", "isbn": "78110939, 978-0078110931", "edition": "16th Edition", "authors": "Earl R. Wilson, Jacqueline L Reck, Susan C Kattelus", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/273.jpg", "uri": "\/textbooks\/accounting-for-governmental-and-nonprofit-entities-16th-edition-273", "see_more_uri": "" }, "free_related_book": { "isbn": "979-8863163406", "uri": "\/textbooks\/how-to-become-an-influencer-a-guide-for-beginners-and-their-parents-1st-edition-979-8863163406-140057", "name": "How To Become An Influencer A Guide For Beginners And Their Parents", "edition": "1st Edition" }, "question_posted": "2024-05-27 00:12:27", "see_more_questions_link": "\/study-help\/questions\/business-management-leadership-2023-June-05", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/study-help\/questions\/find-the-medianthe-median-is-the-central-number-of-a-658882", "description": "Create two different unique demonstrations of Porous Defenses such as: Missing Encryption of Sensitive Data, Use of Hard-coded Credentials, Missing Authorization, Missing Authentication for Critical...", "stars": 3 }, { "url": "\/summary-financial-information-for-wolford-company-is-as-follows-", "description": "Summary financial information for Wolford Company is as follows. 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(a) Cost of the machine no. 7: Rs 1,000 (b) Estimated scrap value at finish of working life...", "stars": 3 }, { "url": "\/study-help\/management-cost-accounting\/calculate-mhr-from-the-following-a-cost-of-machine-rs-1675790", "description": "Calculate MHR from the following: (a) Cost of machine Rs 12,000 (b) Average repairs and maintenance charges per month Rs 150 (c) Estimated scrap value Rs 1,200 (d) Standing charges allocated to...", "stars": 3 } ], "next_back_navigation": { "previous": "\/study-help\/questions\/a-ebook-occupancy-rate-jakes-cabins-is-a-small-motel-1768036", "next": "\/study-help\/questions\/required-information-the-following-information-applies-to-the-questions-displayed-1768038" }, "breadcrumbs": [ { "name": "Study help", "link": "https:\/\/www.solutioninn.com\/study-help\/questions-and-answers" }, { "name": "Business", "link": "https:\/\/www.solutioninn.com\/study-help\/questions-and-answers\/business" }, { "name": "Accounting", "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/business-accounting" }, { "name": " Question 1 Zenith Trading Establishment imports Mobility Aids for distribution to", "link": "https:\/\/www.solutioninn.com\/study-help\/questions\/question-1-zenith-trading-establishment-imports-mobility-aids-for-distribution-1768037" } ], "skill_details": { "skill_id": "9", "skill_name": "Accounting", "parent_id": "1" } } } }