Quiz 5 Accounting - View Attempt 1 of 1 Title: Chapter 5...

Info iconThis preview shows pages 1–4. Sign up to view the full content.

View Full Document Right Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: View Attempt 1 of 1 Title: Chapter 5 Quiz Started: February 22, 2011 10:56 PM Submitted: February 22, 2011 11:54 PM Time spent: 00:58:00 Total score: 16/20 = 80% Total score adjusted by 0.0 Maximum possible score: 20 1. A credit sale of $1,800 is made on July 15, terms 2/10, n/30, on which a return of $100 is granted on July 18. What amount is received as payment in full on July 24? A credit sale of $1,800 is made on July 15, terms 2/10, n/30, on which a return of $100 is granted on July 18. What amount is received as payment in full on July 24? Student Response Value Correct Answer Feedback 1. $1,764 2. $1,700 3. $1,800 4. $1,666 100% Score: 1/1 2. A merchandising company that sells directly to consumers is a A merchandising company that sells directly to consumers is a Score: 1/1 3. At the beginning of September, 2011, GLF Company reported Merchandise Inventory of $4,000. During the month, the company made purchases of $11,700. At September 30, 2011, a physical count of inventory reported $4,800 on hand. Cost of goods sold for the mo At the beginning of September, 2011, GLF Company reported Merchandise Inventory of $4,000. During the month, the company made purchases of $11,700. At September 30, 2011, a physical count of inventory reported $4,800 on hand. Cost of goods sold for the month is Score: 1/1 4. Birk Company sells merchandise on account for $3,000 to Kiner Company with credit terms of 2/10, n/30. Kiner Company returns $600 of merchandise that was damaged, along with a check to settle the account within the discount period. What is the amount of t Birk Company sells merchandise on account for $3,000 to Kiner Company with credit terms of...
View Full Document

Page1 / 12

Quiz 5 Accounting - View Attempt 1 of 1 Title: Chapter 5...

This preview shows document pages 1 - 4. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online