Sales invoice - Invoice issued to the customer XYZ Ltd. for £1000 (Incl. VAT of £166.67), with payment term 30 days. Post journal for it.

XYZ Co. purchased merchandise on June 10 at a $5,000 invoice price with terms of 2/10,n/30 and paid for the merchandise on June 25. Illustrate the required entries to record and pay for this purchase under both the gross method and the net method by matching the action on the left with the method on the right. (Assume a perpetual inventory system is used.)InstructionsDrag and drop application.Cash would be credited for $5,000 on June 25.Cash would be credited for $5,000 on June 25. drop zone empty.Cash would be credited for $4,900 on June 25.Cash would be credited for $4,900 on June 25. drop zone empty.Discounts lost would be debited for $100 on June 25.Discounts lost would be debited for $100 on June 25. drop zone empty.Merchandise inventory would be debited for $5,000 for June 10.Merchandise inventory would be debited for $5,000 for June 10. drop zone empty.

XYZ Corporation, which commenced operations on August 1, employs a job order costing system. Overhead is charged at a normal rate of ₱2.50 per direct labor hour. The actual operations for the month of August are summarized as follows: a. Purchases of raw material, 25,000 pieces @ ₱1.20/piece. b. Material and labor costs charged to production: Job No. Units Material Direct labor cost Direct labor hours 101 10,000 ₱4,000 ₱6,000 3,000 102 8,800 3,600 5,400 2,700 103 16,000 7,000 9,000 4,500 104 8,000 3,200 4,800 2,400 105 20,000 8,000 3,600 1,800 c. Actual overhead costs incurred: Variable ₱18,500 Fixed 15,000 d. Completed jobs: 101, 102, 103, and 104 e. Sales—₱105,000. All units produced on Jobs 101, 102, and 103 were sold. Required: Compute the following balances on August 31: a. Material inventory b. Work in process inventory c. Finished goods inventory d. Cost of goods sold e. Under- or overapplied overhead

XYZ Ltd. has supplied you the following information in respect of one of its products:Total fixed costs Rs. 18,000Total variable costs Rs. 30,000Total sales Rs. 60,000Unit sold  20,000

Wombat Pty Ltd purchased inventory with an invoice price of $1,000 and credit termsidentified on the invoice of 2.5/10, n/30. What do these terms mean to Wombat Pty Ltd?a. no discount is applicable if paid within 10 days.b. the full invoice value of $5,000 is payable within 10 days.c. a discount of 2.5% applies no matter when the invoice is paid.d. a discount of 2.5% will be applied if the invoice is paid within 10 days of the date ofthe invoice.

At the end of 2016, the total assets of XYZ Store amounted to P650, 000, 40% of which is current. Total liabilities are P120, 000. During the year, the company registered total revenue of P850, 000, cost of goods sold is 40% and selling and general expenses are 20%.Selling and general expenses amounted toSelect one:a.P170,000b.P68,000c.P200,000d.P102,000