If an asset is used for more than one accounting period . + N = N x (N+1) / 2. If useful life is 5 years --> Sum-of-the-years'-digits = 1 + 2 + 3 + 4 + 5 . 30 / 2 = 15 .

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The credit terms were 2/10, n/30. Ace paid for the . Sam received a customer payment for a prior sale on account of $1000 subject to credit terms of 2/10, n/30. .

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accounting terms 1 10 n 30, bad credit home loan, home improvement loan, home equity loan. federal changes should make more home owners eligible for fha .

Trade discounts are not entered in the accounting records. They are not considered to be a . 1000. Sales. 1000. Sold merchandise on account, terms 2/ 10,n/30 .

2 answers - Sep 8, 2004Accounting Finance & Accounting. . Gross amount of invoice: $42730; terms: 3/ 10, n/30; debit memorandum: $4380. I don't know what 3/10, .

Credit terms of 2/10, n/30 means that a 10% cash discount is available if . Cost of goods sold is determined at the end of an accounting period under the: .

25+ items – Found 28 files for b accounting b key b terms b.Review these .

Financial analysis: Financial statement analysis utilizing accounting ratios in a . There are 131 accounting terms that start with 'N'. NAA . NET 10, 30, etc. .

Acct 281 Chapter 5 Accounting for Merchandising OperationsJournalize, . 18 Sold merchandise to members $1000, terms n/30. 20 Received $500 in cash from .

NET 10, 30, etc. usually refers to payment terms on an invoice, e.g. Net 10 .

ENTRIES FOR PURCHASES TRANSACTIONS ACCOUNTING ENTRIES USED TO . Example: Invoice for $950 with terms 3/15, n/30 is paid early by the buyer. .

On February 1, Crown Company purchased $2000 of merchandise, terms 2/10, n /30. Crown uses the gross method of recording purchases. Payment of the .

Aug 14, 2010 – The accounting terms 1/15, n/60; n/30; and n/eom have similar meanings. If you look at the terms you can break them down easily if you .

1 answer - Jul 29, 2010Accounting HW Help Please? Stein Hardware Store . $8400, terms 2/10, n/30. 2 Sold merchandise on account $5600, terms 3/10, n/30. .

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Accounting for cash (sales) discounts. Let's see how the credit term of 2/10, n/30 works in an example. Michael & Co Ltd. ships $1000 of goods to a customer. .

The discount percentage is indicated within the credit terms provided at the time of . 2/10, n/30. In the above example: "2" indicates the discount percentage .

In accounting, invoices are used to document the sale of a product or service. . The second set of letters and numbers, n/30, is the net terms. The letter "n" .

Mar 15, 2011 – 2/10 or 1/10 n/30 are discounts that offer an incentive for a customer to pay for purchases in a timely manner. A company offering terms of 2/10 .

Aug 12, 2006 – In business accounting, learn about cash discount and its notation. . An invoice of $6000 was offered cash discount terms of 3/10, n/30 which .

Nov 3, 2008 – Accounting for Inventory Under the Perpetual System . . Oct. 7: Sold merchandise on credit, terms n/30, FOB destination, $2400; the cost of .

In bookkeeping, accounting, and finance, Net sales are operating revenues earned by a company when it . Merchandise sale on account, terms 2/10, n/30. .

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AccountingCoach.com's accounting dictionary defines accounting terms in a .

Search our website for more than 1000 accounting topics: Home · About · 1402 .

The second set of letters and numbers, n/30, is the net terms. The letter "n .

1 answer - Jul 29, 2010Accounting 230 Homework Due Today! Help Please!?!? Stein . 2 Sold merchandise on account $4400, terms 3/10, n/30. The cost of the .

1 answer - Jul 29, 2010Accounting - Help with Journals and Subsidiary Ledgers? . 5, FOB shipping point, terms 2/10, n30 . 22, FOB destination, terms 2/15, n/30. .

Oct 18, 2008 – www.scribd.com/. /Unit-I-Accounting-for-Merchandising-Business1 - SimilarAccounting Entry|Accounting Journal|Accounting EntriesYou +1'd this publicly. UndoThe accounting entry in the accounting journal, with accounting entries illustrated . . Sold $23000 of merchandise on acct, terms 1/20, n/30, FOB shipping point. .

Completion of the Accounting Cycle . Accounting for a Merchandising Company . For example, the credit terms on the invoice below are 2/10, n/30, which is .

Sep 19, 2002 – ACCT 201 Principles of Financial Accounting Practice Exam - Chapter 4. Reporting . 7. The credit terms 2/10, n/30 are interpreted as: .

Gain an understanding of the sales terms FOB destination and shipping point, . 2/10, n/30, If paid within 10 days of the invoice date, the buyer may deduct 2% .

The term is used for two separate processes: amortization of loans and amortization . of payments (for a 30-year loan with monthly payments n = 30 × 12 = 360). . In accounting, amortization refers to expensing the acquisition cost minus the .

15+ items – Search our website for more than 1000 accounting topics: .

Accounting Terms & Definitions · Accounting for . The equation for setting up the terms is: n/10 = EOM. The EOM means “end of month” and most invoices are due for payment in 30 days, thus making the EOM 30 days. The “n” in this case .

Aug 11, 2011 – This is an article about the 2/10 net 30 terms in loan agreements and . many other matters make 2/10 n 30 accounting somewhat complicated. .

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