Post, Freight and Carriers

what is freight terms and shipping point when asked?

What does the word "Freight Collect" means in shipping terms ?

when the terms of sale are FOB shipping point, the buyer should pay the freight charges .True or False?

For each of the following events, determine the amount of freight paid by The Book Shop.? a. Purchased merchandise with freight costs of $700. The merchandise was shipped FOB shipping point. b. Shipped merchandise to customers, freight terms FOB shipping point. The freight costs were $100. c. Purchased inventory with freight costs of $1,000. The goods were shipped FOB destination. d. Sold merchandise to a customer. Freight costs were $900. The goods were shipped FOB destination.

Is there any way to work short term on freight ships for travel?

want to check freight terms which i haven't heard of before? freight payable inbound; freight paybale drop ship; ERS inbound; ERS drop ship - what do these mean?

With regard to the accounts used to record freight costs...? A) Freight-out is added to cost of goods sold B) freight out's normal balance is a debit C) freight-out is recorded when freight terms are FOB shipping point D) freight-out is a contra account to sales

How to sell freight rate to exporters in a country that 99% of foreign trade is on FOB terms like Vietnam? At my company we are force to find direct shippers who export to other countries. No problem with Asian bound routes, but to the US and EU, almost all shipments are on FOB terms, which means shippers can't decide the carriers/ transporters. We have good relationships with exporters but it's no use. Traditional marketing practices don't seem to work. Selling in the shipping industry is much difficult than in the insurance one!

Can someone please help me with the following? 1.The merchandise accounting system where the inventory on hand can always be determined is called the: 2. The merchandise accounting system where the cost of good sold is determined at the end of the accounting period is called the: 3. If the purchaser is to pay the cost of delivering the goods, the terms of sale are FOB: 4.If the seller is to pay the cost of delivering the goods the terms of sale are FOB: 5.The amount of the sales discount is: 6.The seller records the discount in what account? 7.The TOTAL amount of cash received from the buyer is 8.Gross Profit is the difference between Sales and: 9.If ownership (title) to the merchandise passes to the buyer when the goods are delivered to the freight carrier, the shipping terms are:

What would be the Journal Entries for this simple transaction!!? Supplier: Miriam Bookstore, P8,000 Invoice date: May 28 Freight terms: F.O.B. Shipping Destination Freight paid by: CS Schools supplies Date Account paid: June 7 What would be the Journal Entries? Thank you!

Help required about shipping industry? I need websites (s) to learn more about the shipping industry. Im looking to learn about the bill of lading, containber freight station and more terms like these, therefore more specifically about the container freight lines. An online encyclopedia would be nice. Any help would be appreciated. Thanks.

Accounting Question -- FOB shipping? On June 10, Meredith Company purchased $8,000 of merchandise from Leinert Company, FOB shipping point, terms 2/10, n/30. Meredith pays the freight costs of $400 on June 11. Damaged goods totaling $300 are returned to Leinert for credit on June 12. The scrap value of these goods is $150. On June 19, Meredith pays Leinert Company in full, less the purchases discount. Both companies use a perpetual inventory system. question (a) prepare separate entries for each transaction on the books of Meredith Company. (b) Prepare separate entries for each transaction for Leinert Company. The merchandise purchased by Meredith on June 10 had cost Leinert $5,000.

Why does diesel fuel cost more at the pump than gasoline? Diesel costs less, in terms of energy, to refine versus gasoline which has more stages of refinement - Yet diesel costs more at the pump! A big portion of our economy is dependant on diesel fuel i.e., shipping, freight, the generation of electricity etc., and the higher pricing of this fuel has a direct impact on materials handling, building, energy etc. Has anyone investigated the price gouging of diesel fuel?

Accounting for Merchandising Businesses? I need the following questions answer. Thanks in advance 1.The merchandise accounting system in which the amount of inventory on hand can always be determined is called the 2.The merchandise accounting system in which the cost of the merchandise sold is determined at the end of the accounting period is called the 3-5.A sales invoice for $8,000, terms 2/10, n/30, FOB shipping point, is paid within the discount period. The seller has prepaid transportation costs of $500. Purchases of $200 are returned to the seller. 3.The amount of the sales discount is 4.The title of the account in which the discount is recorded by the seller is 5.The amount of cash received from the customer is 6.If ownership (title) to merchandise passes to the buyer when merchandise is delivered to the freight carrier, the shipping terms are

I have some questions about accounting. I am bad at multiple choice and true/false questions. Please help me. 1.The steps in the accounting cycle are different for a merchandising company than for a service company. A)True B)False 2.A periodic inventory system requires a detailed inventory record of inventory items. A)True B)False 3.The Sales Returns and Allowances account and the Sales Discount account are both classified as expense accounts. A)True B)False 4.For a merchandising company, all accounts that affect the determination of income are closed to the Income Summary account. A)True B)False 5.A multiple-step income statement provides users with more information about a company's income performance. A)True B)False 6.If net sales are $800,000 and cost of goods sold is $600,000, the gross profit rate is 25%. A)True B)False 7.Under a periodic inventory system, freight-in on merchandise purchases should be charged to the Inventory account. A)True B)False 8.The terms 2/10, n/30 state that a 2% discount is available if the invoice is paid within the first 10 days of the next month. A)True B)False 9.An enterprise which sells goods to customers is known as a A)proprietorship. B)corporation. C)retailer. D)service firm. 10.Sales revenue less cost of goods sold is called A)gross profit. B)net profit. C)net income. D)marginal income. 11.Detailed records of goods held for resale are not maintained under a A)perpetual inventory system. B)periodic inventory system. C)double entry accounting system. D)single entry accounting system. 12.Under a perpetual inventory system, acquisition of merchandise for resale is debited to the A)Merchandise Inventory account. B)Purchases account. C)Supplies account. D)Cost of Goods Sold account. 13.A buyer would record a payment within the discount period under a perpetual inventory system by crediting A)Accounts Payable. B)Merchandise Inventory. C)Purchase Discounts. D)Sales Discounts. 14.Bryan Company purchased merchandise from Cates Company with freight terms of FOB shipping point. The freight costs will be paid by the A)seller. B)buyer. C)transportation company. D)buyer and the seller. 15.Flynn Company purchased merchandise inventory with an invoice price of $5,000 and credit terms of 2/10, n/30. What is the net cost of the goods if Flynn Company pays within the discount period? A)$5,000 B)$4,900 C)$4,500 D)$4,600

Accounting 101 Questions!? I'm trying to figure out some questions that my professor gave me to lead discussion with in class next week and I was looking for some second/third/fourth opinions. I'll put up the answers that I have too so if you could just tell me if you agree or if I'm wrong on any of them, Thanks! 1. Two categories of expenses for merchandising companies are.....cost of goods sold and operating expenses. 2. Company A purchases merchandise from Company B with freight terms of FOB shipping point. The freight costs will be paid by....seller. 3. A company purchased merchandise inventory with an invoice price of 5000 and credit terms of 2/10, n/30. What is the net cost of the goods if the company pays within the discount period?....4500 4. A company sells merchandise on account for 2000 to another company with credit terms of 2/10, n/30. The second company returns 400 dollars of merchandise that was damaged, along with a check to settle the account within the discount period. What is the amount of the check? 5. In a perpetual inventory system, the cost of goods sold is used..."only when a sale of merchandise occurs" or "whenever there is a sale of merchandise or a return of merchandise sold" 6. A sales invoice is a source document that....? 7. Sales revenues are usually considered earned when....? 8. In a period of rising prices, the costs allocated to ending inventory may be understated in...the LIFO method 9. The manager of company A is given a bonus based on income before income taxes. net income, after taxes is 5600.00 for FIFO and 5040.00 for LIFO. The tax rate is 30%. The bonus rate is 20%. How much higher is the manager's bonus is FIFO is adopted instead of LIFO? 10. If the beginning inventory is understated by 10000.00, the effect of this error in the current period is...understated or overstated in the cost of goods sold and the net income?? 11. an error in the physical count of goods on hand at the end of a period resulted in a 10000.00 overstatement of the ending inventory. the effect of this error in the current period is...overstated or understated in the cost of goods sold and the net income. 12. the receivable that is usually evidenced by a formal instrument of credit is a.....? 13. Company A receives a $5000, 3month, 8% promissory note from Company B in settlement of an open accounts receivable. What will you credit/debit a. notes receivable 5100 accounts receive. 5100 b. notes receivable 5100 accounts rec. (Co.B) 5000 interest revenue 100 c. notes receivable 5000 interest rec. 100 accounts rec. (Co.B) 5000 interest rev. 100 d. notes receivable 5000 accounts rec. (Co,B) 5000 14. A company purchases land for 130,000.00 cash. the company assumes 1,500.00 in property taxes due on the land. the title and the attorney fees totaled 1000.00. the company has the land graded for 2200.00. what amount does the company record as the cost for the land? 15. a company buys land for 50000.00 on 12/31/07. as of 3/31/08, the land has appreciated in value to 50700.00. on 12/31/08, the land has an appraised value of 51800.00. by what amount should the land account be increased in 2008? 16. equipment was purchased for 75000.00. freight charges amounted to 3500.00 and there was a cost of 10000.00 for building a foundation and installing the equipment. it is estimated the equipment will have a 15000.00 salvage value at the end of its 5yr life. depreciation expense each year using the straight line method will be? 17. a company purchased office equipment for 40000.00 and estimated a salvage Value of 8000.00 at the end of its 5yr useful life. the constant percentage to be applied against book value each year if the double declining balance method is used is.... 18. a factory machine was purchased for 75000.00 on 1/1/08. it was estimated that it would have a 15000.00 salvage value at the ned of its 5yr life. it was also estimated that the machine would be run 40000 hours in the 5 yrs. the company ran the machine for 4000 actual hours in 2008. if the company uses the units of activity method of depreciation, the amount of depreciation expense for 2008 would be? 19. if a mining company extracts 1500000 tons in a period but only sells 1200000 tons, what happens to the depletion expense? 20. the lower cost or market basis of valuing inventories is an example of? 21. the consistent application of an inventory costing method is Essential for? 22. sales revenues are usually considered earned when? 23. a sales invoice is a source document that?

Need help with 4 multiple choice accounting questions please? 1. If a purchaser using a perpetual system agrees to freight terms of FOB shipping point, then the a. Merchandise Inventory account will be increased. b. Merchandise Inventory account will not be affected. c. carrier will bear the freight cost. d. seller will bear the freight cost. 2. Freight costs paid by a seller on merchandise sold to customers will cause an increase a. to a contra-revenue account of the seller. b. in operating expenses for the seller. c. to the cost of goods sold of the seller. d. in the selling expense of the buyer. 3. The one characteristic that all entries recorded in a cash receipts journal have in common is a. that they all represent collections from customers. b. a debit to the Cash account. c. a credit to the Cash account. d. that they originate from the sales of merchandise. 4. The one characteristic that all entries recorded in a multi-column purchases journal have in common is a a. credit to the Accounts Payable account. b. credit to the Cash account. c. debit to the Cash account. d. debit to the Accounts Payable account. Please if someone can help me that would be great. Thank you very much Buz

Boeing Truck Company received an invoice showing 10 tires at $117 each, 12 tires at $160 each, and 15 tires at? Boeing Truck Company received an invoice showing 10 tires at $117 each, 12 tires at $160 each, and 15 tires at $189 each. Shipping terms are FOB shipping point. Freight is $500; trade discount is 10/7; and a cash discount of 3/10, n/30 is offered. Assuming Boeing paid within the discount period, what did Boeing pay?

The shipping term F.O.B stands for? a) free on board b) free on bail c) freight owed back d) found on back

How do you write this in a Accounting Jorunal? On January 19th Purchased merchandise from Zoe co. $18000,terms fob shipping point, n/eom and in a another one paid freight of $500 on janaury 19 purchase from Zoe co.

In export term is the exporter require to prepay freight on FOB shipment and claim it back from the importer? or the shipping company will collect the freight from the importer after loading on board the ship.

How do u pronounce the following business terms??? Could u write the pronunciation - e.g. [KOD] for COD? I am learning the basic business terminology and am interested in the pronunciation of the following business terms (abbriviations): CWO (Cash with Order), COD (Cash on Delivery), CAD (Cash against Documents), D/A (Documents against acceptance), D/P (Documents against Payment), EXW (ex works), FAS (Free Alongside Ship), FOB (Free on Board), CFR (Cost and Freight), CIF (Cost, Insurance and Freight), DES (Delivered ex Ship), DEQ (Delivered ex Quay), DAF (Delivered at Frontier), DDU (Delivered Duty Unpaid). thx for the first answer - just now I'd like to c,arifry - are all of these words read s divided letters? I think u read NAFTA, but not ENEIEFTIEI????

Exporter or Importer who is responsible for damage ??? HELP? I am planning to export goods to U.S on CNF term(Cost&Freight) which means I am responsible for cost & shipping goods to destination. The buyer said that they will do inspection and if they find damages they are going to let us know. Is it exporter's responsibility if damage or breakage happens during the shipment or importer's??? what should I tell the importer? please help

need to do general journal? issued check 40 to the oroville company for $2.00 as payment in full on invoice that was received today. the invoice is for freight charges on merchandise delevered to customers under shipping terms of FOB destination.

I need some help with accounting journal entries!? This company uses the perpetual inventory system. I have been working on these entries for over 6 hours now, and just can't seem to get the solutions. There are soooo many accounts associated with this company. Dec. 11...Issued check 40093 to the Oroville Freight Company for $206.50 as payment in full on invoice L3111 that was received today. The invice is for freight charges on merchandise delivered to customers under shipping terms FOB destination. Dec. 13...Sold two snowmobiles and a norton trailer to customer Osetto at an out-the-door price of $14,560.43 which includes sales tax. Ms. Osetto presented a check for $8,000 as a cash down payment and charged the balance to her account. The account will be paid in full in 30 days. To calculate the total sales amount divide the out-the-door price by 1.06. The difference between the answer and the total selling cost will be the sales tax. Dec. 13...Issued a $370 check # 40094 to Outdoors Unlimited magazine for advertising to be featured in the Dec 20 issue. Invoice number 87333 was received in today's mail. Dec. 13...Purchased accessory items for inventory on credit from Fastwinn, Inc. The cash terms are 2/10, n/30, the purchase invoice number 44777, and the goods are shipped FOB shipping point. Net purchase price for the merchandise is $646.80, added freight charges $63.50, and the final net amount of the invoice totals $710.30. (All merchandise purchases are recorded NET) Dec. 13...Instead of repairing the heavy duty shop hoist at a cost of $1,955 and charging this cost to an operating expense account, the hoist, which has one year remaining in its useful life, is completely overhauled at a cost of 3,600 (check 40095, invoice # 35556) This overhaul will extend the useful life of the hoist to four years. Dec. 15...Sold 500 shares of common stock that had been held as a short-term investment. The stock sold for 14 3/4, less a commission of 147.75. The stock was originally purchased as a block of 1,000 shares at a total cost (including commission) of $9,250.00. Dec. 17...Issued debit memo for $58.80 (net cost) and returned to Fastwinn, Inc one Cover. The cover contained a major defect in the side panel and was not saleable. It was part of a Dec. 13 purchase. Dec. 17...Completed 3.25 hours of service work and sold customer Alex Wong a Quad Hauler trailer. The retail selling price for the trailer is $1,485.00. The full amount due, including sales tax is paid with a Bank Credit Card. The bank will charge a credit card fee (1-4%) which will be billed and recorded at the end of the month. (Don't know if this information is needed but labor charges are $62/hour) Dec. 17...Received notice from the bank that the $8,000 check received from customer Osetto on Dec 13 has not cleared due to lack of funds. The balance of this NSF check and an additional $20 handling fee will be charged back to Ms. Osetto's account. The handling fee will be entered as Misc Revenue. Thanks so much for any help with this one. If you guys have suggestions for any of these problems, please fill me in. I'm lost with all of this.

Accounting Journal Entries HELP!? I found these confusing, difficult, or unsure of. Please help me how would I write Journal Entries for these thanks. PS I put all caps on words that are bold and italic in my text book. Q1 Issued check to A Company for 206.50 as payment in full on invoice L311 that was received today. The invoice is for freight charges on merchandise DELIVERED TO CUSTOMERS under shipping terms of FOB designation. Q2 Received a certified check for $1310 from customer as payment in full on customer account. Customer account was written off as uncollectible on November 15 of this year. (2 journal entries required) Q3 Returned shop supplies with a total cost of $46 to Supply Co. The shop supplies were purchased on account December 4 Q4 Sold old store equip for $320 each. The equipment originally cost $1025 and depreciation to September 30 of this year (the end of the third quarter) totals $820. The assets depreciates on a straight line basis at a rate of $20 per month and depreciation is calculated to the nearest month( two journal entries required) Q5 Issued a $370 check to Outdoors magazine for advertising to be featured in the December 20 issue. Invoice was received in today's mail. Q6 Received check for Credit Card Company for $7898.22 as payment in full on credit card invoices that has been received through December 3. The invoices for sales made in late November and early December totaled $8142.50 and Credit Card Co charges a 3.0% fee for use of their system. Q7 Purchased assessory items for inventory on credit from A company. The cash terms are 2/10, n/30, goods are shipped FOB shipping point. Net purchase price for the merchandise is $646.80, added freight charges $63.50, and final net amount of invoice totals $710.30 Q8 Instead of repairing the heavy duty shop hoist at a cost of $1955 and charging this cost to an operating expense account, the hoist with on year remaining in its estimated life, is completely overhauled at cost $3600. This overhaul will EXTEND THE USEFUL LIFE of the hoist to 4 years. Q9 Sold two snowmobile and 1 trailer to customer. at an price of $14,0560.43, which INCLUDES SALES TAX. Customer gave check for $8000 in cash down payment and charged balance on her account. The account will be paid in full in 30 days. (To calculate the total sales amount divide the $14560.43 by 1.06. The differences between the answer and total selling cost will be sales tax.) Q10 After exhausting all alternatives to initiate collection, wrote off the $435 balance of A Customer.

ACCOUNTING QUESTION ANYONE? Pine Logging Co. purchased an electronic saw to cut various types and sizes of logs. The saw had a list price of $160,000. The seller agreed to allow a 5 percent discount because Pine paid cash. Delivery terms were FOB shipping point. Freight cost amounted to $4,200. Pine had to hire an individual to operate the saw. Pine had to build a special platform to mount the saw. The cost of the platform was $2,500. The saw operator was paid an annual salary of $65,000. The cost of the company's theft insurance policy increased by $2,000 per year as a result of the acquisition of the saw. The saw had a four-year useful life and an expected salvage value of $10,000. Determine the amount to be capitalized in an asset account for the purchase of the saw.

Help with these quesitons? 1. Mr. smith bought goods from Terry INC with shipping terms FOB destination, Who has to pay for the freight? 2. Where on the worksheet where does purchase discounts appear

I have the term " FOB" on my sales invoices. The local county is attempting to claim all sales taxes for good? The local county tax collector is attempting to collect sales taxes for goods shipped to other counties because I have the term "FOB Austin, Tx" on the sales invoices. They say the goods or materials title was transferred at the shipping point and the county is due the sales taxes. I contend that the term means only that the buyer pays the freight. What do you think.

How do u figure inventory cost ?? Mary Ann's Hat Shop counted the entire inventory in the store on August 31 and arrived at a total inventory cost of $74,000. The count included $5,200 of inventory held on consignment for a local designer; $580 of inventory that was being held for customers who were deciding if they actually wanted to purchase the merchandise; and $810 of inventory that had been sold to customers but was being held for alterations. There were two shipments of inventory received on September 1. The first shipment cost $6,900. It had been shipped on August 29, terms FOB destination, and the freight charges were $240. The second shipment cost $4,350. It had been shipped on August 28, terms FOB shipping point, and the freight charges were $150. Neither of these shipments were included in the August 31 count. Calculate the correct cost of the inventory on August 31. $

accounting questionnnn!? A sales invoice included the following information: merchandise price, $5,000; freight, $900; terms 1/10, n/eom, FOB shipping point. Assuming that a credit for merchandise returned of $700 is granted prior to payment, that the freight is has already been prepaid by the seller, and that the invoice is paid within the discount period, what is the remaining amount of cash that should be received by the seller? a. $4,300 b. $4,950 c. $3,400 d. $4,257

1. The effect of a sales return and allowance is a reduction in sales revenue and a decrease in cash or accoun 1. The effect of a sales return and allowance is a reduction in sales revenue and a decrease in cash or accounts receivable. True or False 2. The following lots of a particular commodity were available for sale during the year: Beginning inventory10 units at $61 First purchase25 units at $63 Second purchase30 units at $64 Third purchase15 units at $73 The firm uses the periodic system and there are 20 units of the commodity on hand at the end of the year. What is the amount of the inventory at the end of the year according to the average cost method? a.$1,236 b.$1,415 c.$1,305 d.$1,300 3. If the buyer is to pay the transportation costs of delivering merchandise, delivery terms are stated as a.FOB buyer b.FOB destination c.FOB n/30 d.FOB shipping point 4. Who pays the freight costs when the terms are FOB shipping point? a.either the seller or the buyer b.the buyer c.the ultimate customer d.the seller

journalize the followings under a perpetual inverntory system? Copple Hardware Store completed the following merchandising transactions in the month of May. At the beginning of May, the ledger of Copple showed Cash of $5,000 and Common Stock of $5,000. May 1 Purchased merchandise on account from Nute Wholesale Supply $6,000, terms 2/10, n/30. 2 Sold merchandise on account $5,000, terms 1/10, n/30. The cost of the merchandise sold was $3,100. 5 Received credit from Nute Wholesales Supply for merchandise returned $600. 9 Received collections in full, less discounts, from customers billed on sales of $5,000 on May 2. 10 Paid Nute Wholesale Supply in full, less discount. 11 Purchased supplies for cash $900. 12 Purchased merchandise for cash $2,700. 15 Received refund for poor quality merchandise from supplier on cash purchase $230. 17 Purchased merchandise from Sherrick Distributors $1,900, FOB shipping point, terms 2/10, n/30. 19 Paid freight on May 17 purchase $250. 24 Sold merchandise for cash $6,200. The merchandise sold had a cost of $4,600. 25 Purchased merchandise from Duffy Inc. $1,000, FOB, destination, terms 2/10, n/30. 27 Paid Sherrick Distributors in full, less discount. 29 Made refunds to cash customers for defective merchandise $100. The returned merchandise had a scrap value of $20. 31 Sold merchandise on account $1,600, terms n/30. The cost of the merchandise sold was $1,120. Copple Hardware's chart of accounts includes the following: No. 101 Cash, No. 112 Accounts Receivable, No. 120 Merchandise Inventory, No. 126 Supplies, No. 201 Accounts Payable, No. 311 Common Stock, No. 401 Sales, No. 412 Sales Returns and Allowances, No. 414 Sales Discounts, and No. 505 Cost of Goods Sold.

Marketing and Advertising, what's the best choice? Vendor X (present vendor) Vendor X has been your source of supply for the past ten years and is located in the United States. Resource file data indicates that Vendor X has recently been bought out by a large corporation. Since then, deliveries have been one to two weeks late; therefore, you are looking for a new vendor. You have been paying $5.85 per shirt with F.O.B. factory freight prepaid and dating terms of 3/10, net 45. Vendor Y Vendor Y is a potential new source of supply and is located abroad (China). A visit to the manufacturing facility revealed that Vendor Y has the production capabilities to deliver the quantities needed at significantly lower prices than Vendor X and Vendor Z. Deliveries will take longer, so purchasing must be done earlier. Vendor Y offers F.O.B. destination charges reversed and ROG dating of 2/10, net 30. The price of one shirt less the quantity discount (which you would qualify for) is $2.75. Tariffs will be $.25 per shirt, and shipping costs have been projected to be $.50 per shirt, based on shipping by boat. Hidden costs include frequent trips abroad to monitor the manufacturing process for quality-control purposes. Vendor Z Vendor Z is a potential new source of supply (domestic). It has the capacity for a JIT (Just-in-Time) inventory system, whereby it will make frequent deliveries based on current needs. It has its own delivery trucks and an excellent reputation for servicing its customers. Its production facilities are smaller than Vendor X and Vendor Y, but worker productivity appears to be higher. Vendor Z offers F.O.B. destination (no charge for shipping) and dating terms of 2/10, net 30. The price per shirt with the quantity discount is $6.50. Note: All three vendors offer UPC labeling and will take care of your private labeling and packaging requirements but will not agree to consignment or memorandum buying arrangements. Compare and contrast the deals offered by suppliers X, Y, and Z and decide with which you would do business. Provide a rationale for your selection by reviewing the criteria buyers use in selecting supply sources. The product is men's cotton/poly blend shirts to which you will add your own private label. If you could also help me understand what next is and what F.O.B is... That would be great. thank you!! It's for my class, and I need to explain which would be best choice, but I don't really know which one it is, so that's where I need the help.

Record the transaction assuming copple uses a periodic system? A Physical inventory count shows the company has 7,922 of inventory on hand at may 31, 2008 May 1: Purchased 120 tool set for resale from lathrop wholesale supply CO. for $5,800, terms 2/10, n/30. FOB shipping point. 3: The correct company paid $200 cash for freight charges on May 1 merchandise purchase. 4: Sold 3 of the tool sets on acout for $2,250, terms 2/10, n/30, FOB destination. 5: The correct company paid $100 freight on the May 4 sales 6: Issued a credit memorandum for the return of three tool sets sold on May 4. The tol sets were returned to inventory 8: Purchased Supplies for $900 cash 9: Purchased merchandise from Harlow Distributors for 2,000, terms 2/10, n/30,FOB shipping point. 10: The correct company Paid $300 freight on may 9 purchase 12: Received $200 credit from Harlow Distributors for $2,000, terms 2/10, n/30, FOB shipping point. 19: Paid Harlow Distributors for the balance owing 24: Sold one-half of the remaining merchandise purchased from Harlow for 2,600 cash. The merchandise sold had a cost of $1,032 25: Purchased merchandise from Horicon Inc. for $1,000 terms n/30. FOB destination. 27: Received colections in full from customers billed on May 4. 28: Made cash reunds to customer for returned merchandise ,$100. The returned merchandise had a cost of $70 and was restored to inventory 28: Purchased Merchandise for 2,400 cash 29: Received a $230 refund from a supplier for poor - quality merchandise purchased with cash. 31: Paid Lathrop wholesale supply for the balance owing 31: Sold Merchandise on account fo $1,600 , FOB shipping point, terms n/30. The cost of the merchandise sold was 1,0000

Record transactions assuming copple uses a perpertual inventory system? Copple Hardware store had the following merchandising transactions in the month of may. At the beginning of May, copples ledger showed $15,000 and B. Copple, Capital, $15,000 May 1: Purchased 120 tool set for resale from lathrop wholesale supply CO. for $5,800, terms 2/10, n/30. FOB shipping point. 3: The correct company paid $200 cash for freight charges on May 1 merchandise purchase. 4: Sold 3 of the tool sets on acout for $2,250, terms 2/10, n/30, FOB destination. 5: The correct company paid $100 freight on the May 4 sales 6: Issued a credit memorandum for the return of three tool sets sold on May 4. The tol sets were returned to inventory 8: Purchased Supplies for $900 cash 9: Purchased merchandise from Harlow Distributors for 2,000, terms 2/10, n/30,FOB shipping point. 10: The correct company Paid $300 freight on may 9 purchase 12: Received $200 credit from Harlow Distributors for $2,000, terms 2/10, n/30, FOB shipping point. 19: Paid Harlow Distributors for the balance owing 24: Sold one-half of the remaining merchandise purchased from Harlow for 2,600 cash. The merchandise sold had a cost of $1,032 25: Purchased merchandise from Horicon Inc. for $1,000 terms n/30. FOB destination. 27: Received colections in full from customers billed on May 4. 28: Made cash reunds to customer for returned merchandise ,$100. The returned merchandise had a cost of $70 and was restored to inventory 28: Purchased Merchandise for 2,400 cash 29: Received a $230 refund from a supplier for poor - quality merchandise purchased with cash. 31: Paid Lathrop wholesale supply for the balance owing 31: Sold Merchandise on account fo $1,600 , FOB shipping point, terms n/30. The cost of the merchandise sold was 1,0000

Need Accounting Help Fast!!? Business took a physical count of its inventory on Mar. 31. Should the following items be added to this count? (Y or N) 1) Merchandise on hand had been sold earlier in the year but had been returned by customers for various warranty repairs. 2) Business sent merchandise on a consignment basis on Mar. 31 just before the physical count. 3) On Mar. 22 Business ordered merchandise on FOB destination terms. The merchandise was shipped by the supplier on Mar. 30 but had not been received by Mar. 31. 4) On Mar. 27 business ordered merchandise on FOB shipping point terms. The merchandise was shipped on Mar. 29 but had not been received by Mar. 31 5) Merchandise sold FOB shipping point on Mar. 31 was picked up by the freight company just before closing on Mar. 31 6) Merchandise shipped to a customer FOB shipping point was picked up by the freight company on Mar. 28 but had not arrived at its destination as of Mar. 31 Thanks

Inventory Accounting Help? Company X doing ending inventory as of 2/28/05 A) X shipped goods costing $800 to a customer and charged the customer $1000. The goods were shipped with terms FOB destination, customer received goods March 2. B) On February 26, Seller Inc. shipped goods to Company X under FOB shipping point. Goods were received March 2. C) Company X had $500 inventory in a warehouse. The inventory is designated for a customer who requested the goods be shipped March 10. D) Also in warehouse is $400 of inventory that Craft Producers shipped to Company X on consignment. E) On February 26, Company X issued a purchase order to get goods costing $750. The goods were shipped with terms FOB destination on February 27. Company X received the goods on March 2 F) On February 26, X shipped goods to a customer under terms FOB shipping point. The invoice price was $350 plus $25 for freight; the cost of the items was $280. Customer received items on March 2. For each transaction, should it be included in ending inventory, and if so, what amount?

For each transaction, indicate the amount of the item in question that should be included in ending inventory? a) On February 26, Kananaskis shipped goods costing $800 to a customer and charged the customer $1,000. The goods were shipped with terms FOB destination and the receiving report indicates that the customer received the goods on March 2. (b) On February 26, Seller Inc. shipped goods to Kananaskis under terms FOB shipping point. The invoice price was $350 plus $25 for freight. The receiving report indicates that the goods were received by Kananaskis on March 2. (c) Kananaskis had $500 of inventory isolated in the warehouse. The inventory is designated for a customer who has requested that the goods be shipped on March 10. (d) Also included in Kananaskis' warehouse is $400 of inventory that Craft Producers shipped to Kananaskis on consignment. (e) On February 26, Kananaskis issued a purchase order to acquire goods costing $750. The goods were shipped with terms FOB destination on February 27. Kananaskis received the goods on March 2. (f) On February 26, Kananaskis shipped goo

Can someone help me with this accounting question so i can understand this: i paid skywalker distributors in f ull, less discount. april 18 purchased merch. from skywalker distributors $4,500, FOB shipping point, terms 2/10, n/30 april 20 paid freight on april 18 purchase $100 april 26 purchased merch. for cash $2,300 april 27 paid skywalker distributors in full, less discount. my question is how much did i give in full, was it 4,500.

proff read my resume? Objective: An interesting position at someplace where I can use my knowledge, skills and abilities for the benefit of the company. Qualification: University of ABC Master of Quantitative FinanceNOW University of ABC Bachelor of Arts - Economics Enrolled in advanced courses in Micro & Macro Economics, International Trade, Industrial Organization, Money and Banking, Managerial Skills Development, Operations Management, and Combinatorics Exhibits excellent time management skills by completing the program despite taking 6 full-time courses in summer & joining the Anime club Employment Experience: ABC Trading Ltd. Manger200x to 200x - Work closely with Sales, Quality Assurance, and Finance to meet customer's requests and manufacturer’s terms. - Handled shipping documents for sea and air freight deliveries, customers invoices, packing lists, insurance, bill of lading, letter of credits - Developed strong analytical and presentation skills as a key member of the group responsible to develop, assemble and present the company annual status reports -Developed a good understanding of clearance procedures and customs requirements. Government of Canada Election Officer -Utilized Access database to input statistics -Greeted Voters in a professional and courteous manner Licensed Trader: Canadian Securities Course (CSC) 200x Conduct and Practices Handbook Course (CPH) 200x Futures Licensing Course (FLC) 200x Licensing Examination for Securities and Futures Intermediaries, Canadian Securities Institute Accomplishments: Wall Street Fantasy Stock Completion Champion (200x) The Salvation Army-Junior Soldier (199x-199x) Calgary Centennial Penny Drive (199x) Created print advertisements and flyers to successfully promote events for the University Participated in Kellogg Company Marketing Case Competition and Coca-Cola Marketing Competition Manages Bloomberg, MATLAB R2009b, Microsoft Excel 2007 SP2, C/C++, Unix, Adobe Dreamweaver CS4, Adobe Photoshop CS4 Extended & Manga Studio EX 4 Speaks fluent English & Cantonese, and a little bit of French Referees: Available upon request Note: I am failing my accounting course ... I want to switch my postgradute degree to finance . I don't want to do with my life :(

Can someone help me with these Journal Entries? Sansomite Co. distributes suitcases to retail stores and extends credit terms of 1/10, n/30 to all of its customers. At the end of June, Sansomite's inventory consisted of 40 suitcases purchased at $30 each. During the month of July the following merchandising transactions occurred. July1Purchased 60 suitcases on account for $30 each from Trunk Manufacturers, FOB destination, terms 2/10, n/30. The appropriate party also made a cash payment of $100 for freight on this date. 3Sold 40 suitcases on account to Satchel World for $50 each. 9Paid Trunk Manufacturers in full. 12Received payment in full from Satchel World. 17Sold 30 suitcases on account to The Going Concern for $50 each. 18Purchased 60 suitcases on account for $1,800 from Kingman Manufacturers, FOB shipping point, terms 1/10, n/30. The appropriate party also made a cash payment of $100 for freight on this date. 20Received $300 credit (including freight) for 10 suitcases returned to Kingman Manufacturers. 21Received payment in full from The Going Concern. 22Sold 45 suitcases on account to Fly-By-Night for $50 each. 30Paid Kingman Manufacturers in full. 31Granted Fly-By-Night $200 credit for 4 suitcases returned costing $120. Sansomite's chart of accounts includes the following: No. 101 Cash, No. 112 Accounts Receivable, No. 120 Merchandise Inventory, No. 201 Accounts Payable, No. 401 Sales, No. 412 Sales Returns and Allowances, No. 414 Sales Discounts, No. 505 Cost of Goods Sold.

Can someone help me do the following journal entries? I am so confused? P5-1A Sansomite Co. distributes suitcases to retail stores and extends credit terms of 1/10, n/30 to all of its customers. At the end of June, Sansomite's inventory consisted of40 suitcases purchased at $30 each. During the month of July the following merchandising transactions occurred: July 1Purchased60 suitcases on account for$30 each from Trunk Manufacturers, FOB destination, terms 2/10, n/30. The appropriate party also made a cash payment of$100 for freight on this date. July 3Sold40 suitcases on account to Satchel World for$50 each. July 9Paid Trunk Manufacturers in full. July 12Received payment in full from Satchel World. July 17Sold30 suitcases on account to The Going Concern for$50 each. July 18Purchased60 suitcases on account for$1,700 from Kingman Manufacturers, FOB shipping point, terms 1/10, n/30. The appropriate party also made a cash payment of$100 for freight on this date. July 20Received$300 credit (including freight) for10 suitcases returned to Kingman Manufacturers. July 21Received payment in full from The Going Concern. July 22Sold45 suitcases on account to Fly-by-Night for$50 each. July 30Paid Kingman Manufacturers in full. July 31Granted Fly-By-Night$200 credit for4 suitcases returned costing $120 Sansomite's chart of accounts includes the following: 101Cash401Sales 112Accounts Receivable412Sales Returns and Allowances 120Merchandise Inventory414Sales Discounts 201Accounts Payable505Cost of Goods Sold Well thanks so much for the help but for the journal entry on June 3, there are 2 seperate entries I need to fill in and I assume I didn't need to worry about the freight costs on the first date because there was only one blank entry for that...any idea what to put for the second entry on June 3rd?

If the supplier is on FOB term, what is the cost for buyer in freight and insurance? Who appoints the shipping and insurance agents? The supplier or buyer? When to pay?

Can you please help me with accounting? I have some accounting question that need the answer for them. I need to review for my test. Thank you very much. 1. Sales Returns and Allowances will have what kind of balance? 2. Johnson sells inventory for $3,000 on account. The cost of the goods was $1600. What entry would Johnson make to record the revenue on this transaction? 3. If the terms are FOB Shipping Point, who pays the freight charges? 4. Johnson has sales of $1,000 and Cost of Goods Sold of $600. Expenses are $300. What is the Gross Profit? 5. When using the perpetual inventory method, when is Cost of Goods Sold recorded? 6. Inventory is an asset that will be converted to an expense at the time of sale. What expense? 7. Name something that would appear on a multiple step income statement, but would not appear on a single step income statement. 8. Johnson pays the freight on incoming merchandise. This freight cost will be debited to: 9 On what statement will the Inventory account be reported?

Need some accounting help.....? Begining Inventory = 3000 1. Purchased merchandise on account that cost $4,100. 2. Purchased goods in Event 1. FOB shipping point with freight cost of $300 cash. 3. Returned $500 of damaged merchandise for credit on account. 4. Agreed to keep other damaged merchandise for which the company received a $250 allowance. 5. Sold merchandise that cost $2,750 for $4,750 cash. 6. Delivered merchandise to customers under terms FOB destination with freight costs amounting to $200 cash. 7. Paid $3,000 on the merchandise purchased in Event 1. Questions:(Statement of cash flows) a) outflow for merchandise inventory b) outflow for expenses

Accounting Journal Entries? Journalize the following transactions using the gross method to account for purchase discounts. Assume a perpetual inventory system. January3Purchased merchandise from Long Company on account, $10,000, terms 1/10, n/30. The goods are shipped FOB shipping point, freight prepaid by seller, $500. January9Returned to Long Company defective merchandise previously purchased on account, $600. January14Paid the amount due to Long Company. (What would be the entries for these transactions? Should I include the freigh , but how?) Purchased on Jan 3, and returns after several days, then paid on Jan 14. Should I take the discount?

What's the best way to ship stuff from Canada (Ottawa) to the US (Los Angeles)? Someone I know is getting ready to relocate to the United States and they were wondering what the best way to ship their stuff was. From what I understand they're not looking to move any furniture or large items only box size things. For example clothing, books, knickknacks and possibly a small stereo. Also they're guessing It probably won't be more than 10 boxes worth of stuff and certainly not more than 15. What's the best way in terms of balancing out cost, safety and simplicity? We know there is the Postal Service but is there some sort of point-to-point freight option that would be a better way of doing things? PS the person is flying therefore it's not like they can load up a car or anything. Thanks in advance for your help. also if you could please add why you think this is a good suggestion. oh and any costs or contact information including links would be great as well.

Gold run software journal entries needed? Q 1 Dec 18 Discovered that invoice from Norton America for $15900 list ($15741 net) with cash terms 1/10, n/30 and dated November 18, was filed incorrectly and the cash discount has been lost. Record the discount lost entry. Then issue check and pay the total amount due today on this invoice. Q 2 Dec 18 Received a $1250 check from the Downieville Dusters as a partial payment on their past due account Q 3 Dec 19. On October 19 of this year Gold Run Snowmobile Inc borrowed $13000 cash on an 9%, 60 day note payable. The $13000 note plus interest (6%) is due today and is paid in full with check. Q4 Dec 20.Sold one Trail-Tracker Enduro snowmobile to A.C. Woolworth for the cost of $6860 plus a markup on selling price 20%. Sales tax on the retail price increases the out the dood cash price to $9089.5. Item: Trail-tracker Enduro Qty 1 Net cost per unit: $6860.00 Q5 Purchased a special order Swift Arrow and three additional Quad Hauler trailers from Swift, Inc. The gross invoice total from Swift Inc. (including freight charges) is $13674. The total net cost of the merchandise is $13464 with additional freight charge $210. The terms on invoice are 1/10, n/30 and the special order is being shipped FOB shipping point. Merchandise listed below Item: Swift arrow Qty: 1 Net cost per unit: $9900.00 Item: Quad Hauler Qty : 3 Net cost per unit: 1188.00 Freight charges: $210

Received merchandise returned on sale of July 6, $6,000. The cost of the merchandise returned was $4,500.? I need journal entries for these transactions. Please help me out1.Paid rent for July $5,000. 3.Purchased merchandise on account from South Beach Co., terms 2/10, n/30, FOB shipping point, $40,000. 4.Paid freight on purchase of July 3, $600. 6.Sold merchandise on account to Surf Co., terms 2/10, n/30, FOB shipping point, $25,000. The cost of the merchandise sold was $15,000. 7. Received $26,500 cash from Clamshell Co. on account, no discount. 10.Sold merchandise for cash, $80,000. The cost of the merchandise sold was $50,000. 13. Paid for merchandise purchased on July 3, less discount. 14. Received merchandise returned on sale of July 6, $6,000. The cost of the merchandise returned was $4,500. 15.Paid advertising expense for last half of July, $7,500. 16. Received cash from sale of July 6, less return of July 14 and discount. 19.Purchased merchandise for cash, $36,000. 19.Paid $18,000 to Oyster Co. on account, no discount. 20.Sold merchandise on account to Salty Co., terms 1/10, n/30, FOB shipping point, $40,000. The cost of the merchandise sold was $25,000. 21.For the convenience of the customer, paid freight on sale of July 20, $1,100. 21.Received $17,600 cash from Lobster Co. on account, no discount. 21. Purchased merchandise on account from Sunny Co., terms 1/10, n/30, FOB destination, $20,000.24. Returned $2,000 of damaged merchandise purchased on July 21, receiving credit from the seller. 26. Refunded cash on sales made for cash, $3,000. The cost of the merchandise returned was $1,800. 28.Paid sales salaries of $22,800 and office salaries of $15,200. 29.Purchase store supplies for cash, $2,400. 30.Sold merchandise on account to Surfside Co. terms 2/10, n/30, FOB shipping point, $18,750. The cost of the merchandise sold was $11,250. 30.Received cash from sale of July 20, less discount, plus freight paid on July 21. 31.Paid for purchase of July 21, less return of July 24 and discount.

How to do the following accounting question(Serious answers only).? ? On October 1, Keiler Motorcycle Shop had an inventory of 20 dirt bikes at a cost of $1,150 each. During the month of October, the following transactions occurred. Oct.3Purchased 10 bikes at a cost of $1,150 each from the Lyons Bike Company, terms n/30. 6Sold 10 bikes for $1,500 each, terms n/30. 6Freight of $250 on the October 6 sale was FOB shipping point. 7Received credit from the Lyons Bike Company for the return of 2 defective bikes. 13Issued a credit to a customer for the return of a bike. The bike was returned to inventory. 19Purchased 8 bikes from Huffy Cycle Company at a cost of $1,125 each, terms 2/10, n/30. 20Freight of $220 on the October 19 purchase was FOB shipping point. 29Paid for the October 19 purchase. Instructions Using a perpetual inventory system, prepare the journal entries to record the transactions.

On October 1, Keiler Motorcycle Shop had an inventory of 20 dirt bikes at a cost of $1,150 each. During the mo? Oct.3Purchased 10 bikes at a cost of $1,150 each from the Lyons Bike Company, terms n/30. 6Sold 10 bikes for $1,500 each, terms n/30. 6Freight of $250 on the October 6 sale was FOB shipping point. 7Received credit from the Lyons Bike Company for the return of 2 defective bikes. 13Issued a credit to a customer for the return of a bike. The bike was returned to inventory. 19Purchased 8 bikes from Huffy Cycle Company at a cost of $1,125 each, terms 2/10, n/30. 20Freight of $220 on the October 19 purchase was FOB shipping point. 29Paid for the October 19 purchase. Instructions Using a perpetual inventory system, prepare the journal entries to record the transactions.

Accounting Student Looking for Guidance, Please Help? Justin Huish Publishing Co. publishes college textbooks that are sold to bookstores on the following terms. Each title has a fixed wholesale price, terms f.o.b. shipping point, and payment is due 60 days after shipment. The retailer may return a maximum of 30% of an order at the retailer’s expense. Sales are made only to retailers who have good credit ratings. Past experience indicates that the normal return rate is 12%, and the average collection period is 72 days. Instructions a)Identify alternative revenue recognition tests that Huish could employ concerning textbook sales. b)Briefly discuss the reasoning for your answers in (a) above. c)In late July, Huish shipped books invoiced is $16,000,000. Prepare the journal entry to record this event that best confirms to generally accepted accounting principles and your answer to part (b). d)In October, $2 million of the invoiced July sales were returned according to the return policy, and the remaining $14 million was paid. Prepare the entries recording the return and payment. On June 3, David Reid Co. sold to Kim Rhode merchandise having a sale price of $5,000 with terms of 2/10, n/60, f.o.b. shipping point. An invoice totaling $120, terms n/30, was received by Rhode on June 8 from the Olympic Transport Service for the freight cost. Upon receipt of goods, June 5, Rhode notified Reid Co. that merchandise costing $400 contained flaws that rendered it worthless. The same day Reid Co. issued a credit memo covering the worthless merchandise and asked that it be returned at company expense. The freight on the returned merchandise was $24, paid by Reid Co. on June 7. On June 12, the company received a check for the balance due from Rhode. Instructions a)Prepare journal entries on Reid Co. books to record all the events noted above under each of the following bases. 1.Sales and receivables are entered at gross selling price. 2.Sales and receivables are entered net of cash discounts. b)Prepare the journal entry under basis 2, assuming that Kim Rhode did not remit payment until August 5. During 2007 Pierson Co. started a construction job with a contract price of $1,500,000. The job was completed in 2009. The following information is available. 2007 2008 2009 Costs incurred to date$400,000$935,000$1,070,000 Estimated costs to complete 600,000 165,000 -0- Billings to date 300,000 900,000 1,500,000 Collections to date 270,000 810,000 1,425,000 Instructions a)Compute the amount of gross profit to be recognized each year assuming the percentage-of-completion method is used. b)Prepare all necessary journal entries for 2008. c)Compute the amount of gross profit to be recognized each year assuming the completed-contract method is used. South Carolina Corp. has one temporary difference at the end of 2007 that will reverse and cause taxable amounts of $55,000 in 2008, $60,000 in 2009, and $65,000 in 2010. South Carolina’s pretax financial income for 2007 is $300,000, and the tax rate is 30% for all years. There are no deferred taxes at the beginning of 2007. Instructions a)Compute taxable income and income taxes payable for 2007. b)Prepare the journal entry to record income tax expense, deferred income taxes, and income taxes payable for 2007. c)Prepare the income tax expense section of the income statement for 2007, beginning with the line “Income before income taxes.” The following information is available for Wenger Corp for 2006. 1.Excess of tax depreciation over book depreciation, $40,000. This $40,000 difference will revenue equally over the years 2007-2010. 2.Deferral, for book purposes, of $20,000 of rent received in advance. The rent will be earned in 2007. 3.Pretax financial income, $300,000. 4.Tax rate for all years, 40%. Instructions a)Compute taxable income for 2006. b)Prepare the journal entry to record income tax expense, deferred income taxes, and income taxes payable for 2006. c)Prepare the journal entry to record income tax expense, deferred income taxes, and income taxes payable for 2007, assuming taxable income of $325,000. Listed below are items that are commonly accounted for differently for financial reporting purposes than they are for tax purposes. Instructions For each item below, indicate whether it involves: 1)A temporary difference that will result in future deductible amounts and, therefore, will usually give rise to a deferred income tax asset. 2)A temporary difference that will result in future taxable amounts and, therefore, will usually give rise to a deferred income tax liability. 3)A permanent difference. Use the appropriate number to indicate your answers for each. a)___ The MACRS depreciation system is used for tax purposes, and the straight-line depreciation method is used for financial reporting purposes for some plant assets. b)___ A landlord collects some rents in advance. Rents received are taxable in In addition, I am doing my own homework but I compare my answers with answers received and if something is not adding up on my side I go to campus and ask for guidance from head of the department. We all learn in different ways. I like to work things backwards. Gotta love that

Accounting question.? If the seller is to pay the freight costs of delivering merchandise, the delivery terms are stated as a. FOB shipping point b. FOB n/30 c. FOB seller d. FOB destination

Journalize the following transactions under a perpetual inventory system? 1. On April 5, purchased merchandise from Allman Company for $20,900 terms 2/10, net/30, FOB shipping point. 2. On April 6 paid freight costs of $927 on merchandise purchased from Allman. 3. On April 7, purchased equipment on account for $30,100. 4. On April 8, returned damaged merchandise to Allman Company and was granted a $4,400 allowance for returned merchandise. 5. On April 15 paid the amount due to Allman Company in full. Assume that Gilberto Co. paid the balance due to Allman Company on May 4 instead of April 15. Prepare the journal entry to record this payment.

accounting help? 10 points which account and how much for each. ****problem**** 1.On April 5, purchased merchandise from Bryant Company for $25,000 terms 2/10, net/30, FOB shipping point. 2.On April 6 paid freight costs of $900 on merchandise purchased from Bryant. 3.On April 7, purchased equipment on account for $26,000. 4.On April 8, returned damaged merchandise to Bryant Company and was granted a $4,000 credit for returned merchandise. 5.On April 15 paid the amount due to Bryant Company in full ****MY QUESTION**** 1. On April 15 paid the amount due to Bryant Company in full 2. Assume that Steffens Co. paid the balance due to Bryant Company on May 4 instead of April 15. Prepare the journal entry to record this payment.

What is the amount for discount on machine invoice price? Kruz Co. purchases a machine for $10,400, terms 1/10, n/60, FOB shipping point. The seller prepaid the $235 freight charges, adding the amount to the invoice and bringing its total to $10,635. The machine requires special steel mounting and power connections costing $719. Another $339 is paid to assemble the machine and get it into operation. In moving the machine to its steel mounting, $250 in damages occurred. Materials costing $40 are used in adjusting the machine to produce a satisfactory product. The adjustments are normal for this machine and are not the result of the damages.

I have some questions about accounting. I am bad at multiple choice and true/false questions. Please help me. 1.The steps in the accounting cycle are different for a merchandising company than for a service company. A)True B)False 2.A periodic inventory system requires a detailed inventory record of inventory items. A)True B)False 3.The Sales Returns and Allowances account and the Sales Discount account are both classified as expense accounts. A)True B)False 4.For a merchandising company, all accounts that affect the determination of income are closed to the Income Summary account. A)True B)False 5.A multiple-step income statement provides users with more information about a company's income performance. A)True B)False 6.If net sales are $800,000 and cost of goods sold is $600,000, the gross profit rate is 25%. A)True B)False 7.Under a periodic inventory system, freight-in on merchandise purchases should be charged to the Inventory account. A)True B)False 8.The terms 2/10, n/30 state that a 2% discount is available if the invoice is paid within the first 10 days of the next month. A)True B)False 9.An enterprise which sells goods to customers is known as a A)proprietorship. B)corporation. C)retailer. D)service firm. 10.Sales revenue less cost of goods sold is called A)gross profit. B)net profit. C)net income. D)marginal income. 11.Detailed records of goods held for resale are not maintained under a A)perpetual inventory system. B)periodic inventory system. C)double entry accounting system. D)single entry accounting system. 12.Under a perpetual inventory system, acquisition of merchandise for resale is debited to the A)Merchandise Inventory account. B)Purchases account. C)Supplies account. D)Cost of Goods Sold account. 13.A buyer would record a payment within the discount period under a perpetual inventory system by crediting A)Accounts Payable. B)Merchandise Inventory. C)Purchase Discounts. D)Sales Discounts. 14.Bryan Company purchased merchandise from Cates Company with freight terms of FOB shipping point. The freight costs will be paid by the A)seller. B)buyer. C)transportation company. D)buyer and the seller. 15.Flynn Company purchased merchandise inventory with an invoice price of $5,000 and credit terms of 2/10, n/30. What is the net cost of the goods if Flynn Company pays within the discount period? A)$5,000 B)$4,900 C)$4,500 D)$4,600

prepare journal entries for furano company assuming it uses a periodic inventory system? The Furano Company had the following merchandise transaction in may: May 2 Purchased $1,200 of merchandise from digital Suppliers, terms 2/10, n/30, FOB shipping point. May 2 The correct company paid $100 freight costs. May 3 Returned $200 of the merchandise to digital as it did not meet specifications. May 9 Paid Digital the balnce owing. May12 Sold three quarters of the remaining merchandise to sun dial company for 1,500, terms 2/10, n/30 May 14 Sun dial complained that some of the merchandise was slightly damaged. Furano gave sundial a sales allowance of $100 May 22 Received the correct balance owing from sun dil

Preparing Journal Entries for Sales and Receivables? On June 3, David Reid Co. sold to Kim Rhode merchandise having a sale price of $5,000 with terms of 2/10, n/60, f.o.b. shipping point. An invoice totaling $120, terms n/30, was received by Rhode on June 8 from the Olympic Transport Service for the freight cost. Upon receipt of goods, June 5, Rhode notified Reid Co. that merchandise costing $400 contained flaws that rendered it worthless. The same day Reid Co. issued a credit memo covering the worthless merchandise and asked that it be returned at company expense. The freight on the returned merchandise was $24, paid by Reid Co. on June 7. On June 12, the company received a check for the balance due from Rhode. Instructions a)Prepare journal entries on Reid Co. books to record all the events noted above under each of the following bases. 1.Sales and receivables are entered at gross selling price. 2.Sales and receivables are entered net of cash discounts. b)Prepare the journal entry under basis 2, assuming that Kim Rhode did not remit payment until August 5.

need some help with two accounting problems. Can anyone help me? Here are the problems: Problem 1 The following events pertain to Trager Company for January 2008. The company uses the perpetual inventory method. Record the following events in the general journal. A. Jan 3. Purchased $40,000 of merchandise inventory from a supplier, Kelly Distributors, Inc. The terms of the purchase: 2/10, n/30 and FOB shipping point. B. Jan 5. Paid $900 cash for freight to trucking company to have goods shipped from Kelly Distributors, Inc. C. Jan 7. (a) Sold merchandise for $8,000 to a customer on account. (b) The merchandise had cost Trager $5,600. D. Jan 10. Returned $5,000 of defective merchandise to Kelly Distributors, Inc. E. Jan. 11. Paid amount due on account to Kelly Distributors for merchandise purchased on Jan. 3. F. Jan. 12. a) Accepted a return of $1,500 of the goods sold on Jan. 7. b) The cost of these goods was $1,100. Problem 2 (25 Points) Record the following entries using the horizontal statements model. A. Issued stock for cash, $10,000 B. Purchased equipment which had a cost of $8,000, paid $2,000 cash and financed the rest by issuing a note payable. C. Purchased supplies for $4,000 cash. D Performed services on account, $10,000. E. Received $12,000 cash for services to be completed in the future. F. Received cash for services rendered in transaction (C), $9,000. G. An inventory at year-end reveals that there is $1,300 of supplies remaining. H. Performed $6,000 of the services in transaction (E). I. Regular weekly salaries are $10,000. Salaries are paid on Friday for the week which ended the previous Friday. December 31 is a Wednesday. Assume a five day work week. I need to do a balance sheet and income statement for both problems.

Business Math...Urgent? I have a few that i can't figure out. They are as follows: An invoice dated January 15 for merchandise you bought added up to $876. The terms were 3/10, n/60, f.o.b. shipping point. When the goods arrived, you paid freight amounting to $8.50. On January 20 you returned goods billed at $26, and received credit therefore. You paid the bill on January 24. The amount of your check was... Choices: 815.22 816.00 824.50 850.00 An invoice dated June 6 has the terms 3/5, 2/30, n/60. What is the last day that the retailer can take advantage of the 3% discount? Choices June 9 June 11 June 30 July 6 An invoice for $355.75 is dated April 21 and has terms of 4/10, 1/30, n/60. What amount of money is needed to pay this invoice on May 1? Choices: 320.18 341.52 352.19 355.75 What amount of money is necessary to pay a bill for $658, dated September 21, terms of 3/15, n/60, if it is paid within 15 days of the date of invoice? Choices $263.20 $559.30 $638.26 $658.00 Please copy/paste questions and type the answers after them. Thanks in advance. Also, i am not taking this class. it is a preliminary round for a contest that i need help with. The teachers wont help me. They say ask the internet, siblings, parents, or books. So please help me. This is a 12th grade course and i'm only in 10th grade.

Business Math...Need Quick Help? I have a few that i can't figure out. They are as follows: An invoice dated January 15 for merchandise you bought added up to $876. The terms were 3/10, n/60, f.o.b. shipping point. When the goods arrived, you paid freight amounting to $8.50. On January 20 you returned goods billed at $26, and received credit therefore. You paid the bill on January 24. The amount of your check was... Choices: 815.22 816.00 824.50 850.00 An invoice dated June 6 has the terms 3/5, 2/30, n/60. What is the last day that the retailer can take advantage of the 3% discount? Choices June 9 June 11 June 30 July 6 An invoice for $355.75 is dated April 21 and has terms of 4/10, 1/30, n/60. What amount of money is needed to pay this invoice on May 1? Choices: 320.18 341.52 352.19 355.75 What amount of money is necessary to pay a bill for $658, dated September 21, terms of 3/15, n/60, if it is paid within 15 days of the date of invoice? Choices $263.20 $559.30 $638.26 $658.00

Business Math? I have a few that i can't figure out. They are as follows: An invoice dated January 15 for merchandise you bought added up to $876. The terms were 3/10, n/60, f.o.b. shipping point. When the goods arrived, you paid freight amounting to $8.50. On January 20 you returned goods billed at $26, and received credit therefore. You paid the bill on January 24. The amount of your check was... Choices: 815.22 816.00 824.50 850.00 An invoice dated June 6 has the terms 3/5, 2/30, n/60. What is the last day that the retailer can take advantage of the 3% discount? Choices June 9 June 11 June 30 July 6 An invoice for $355.75 is dated April 21 and has terms of 4/10, 1/30, n/60. What amount of money is needed to pay this invoice on May 1? Choices: 320.18 341.52 352.19 355.75 What amount of money is necessary to pay a bill for $658, dated September 21, terms of 3/15, n/60, if it is paid within 15 days of the date of invoice? Choices $263.20 $559.30 $638.26 $658.00 Thanks in advance.

contract questions!!!? 414.Sylia manufactures stone yard statutes for a living, but sells her neighbor her old car. Sylvia is regarded as a merchant in the sale of the car True False 415.Under the UCC, a seller may shift the risk of loss to the buyer before actual delivery of the goods True False 412.Article 2 of the UCC does not apply to the sale of real estate True False 413.Article 2 of the UCC applies to transactions involving both real and personal property True False 409.In the terms of sales contracts "FOB" A.is an abbreviation of "Free on Board," which calls for the seller to deliver the goods free of expense and at the seller's risk B.is an abbreviation of "Fee on Board" which calls for the buyer to pay a delivery fee in order to transfer goods from a shipper's possession C.is an abbreviation of "Freight on Board" which verifies that the goods have been loaded properly at the shipping point D.is an archaic legal term, from the Middle English "fobben" which means "to cheat or deceive"

Accounting Homework confusion...? Ok, I'm making journal entries for a merchandising company that applies the perpetual inventory system. These question have me stuck: July 4-At OLB's request, paid $150 cash for freight charges on the July 3 purchase, reducing the amount owed to OLB. (The July 3 purchase is purchased merchandise from OLB Corp. for $15,000 under credit terms or 1/10, n/30, FOB Destination) July 20-Paid the Amount due to Rupert Corporation for the July 10 purchase less the price reduction granted (The July 10 purchase was Purchased merchandise from Rupert Corp. for $14,200 under credit terms of 1/10,n/45,FOB Shipping Point, invoice dated July 10. Invoice showed that Rupert paid the $500 shipping charges and added that amount to the bill){The price reduction granted was: After negotiations with Rupert Co. concerning problems with the merchandise purchased July 10, received a credit memorandum from Rupert granting a price reduction of $2,000} Any help is great. I looked through the book to see if there was an example for these, but I found nothing. Thanks for any help.

Accounting Homework Confusion? Ok, I'm making journal entries for a merchandising company that applies the perpetual inventory system. These question have me stuck: July 4-At OLB's request, paid $150 cash for freight charges on the July 3 purchase, reducing the amount owed to OLB. (The July 3 purchase is purchased merchandise from OLB Corp. for $15,000 under credit terms or 1/10, n/30, FOB Destination) July 20-Paid the Amount due to Rupert Corporation for the July 10 purchase less the price reduction granted (The July 10 purchase was Purchased merchandise from Rupert Corp. for $14,200 under credit terms of 1/10,n/45,FOB Shipping Point, invoice dated July 10. Invoice showed that Rupert paid the $500 shipping charges and added that amount to the bill){The price reduction granted was: After negotiations with Rupert Co. concerning problems with the merchandise purchased July 10, received a credit memorandum from Rupert granting a price reduction of $2,000} Any help is great. I looked through the book to see if there was an example for these, but I found nothing. Thanks for any help.

Please teache me !! Help Help? How should i put these transactions into general journal!! 1, sold merchandise with a retail value of $6,000 and a cost of $4,080 to Chang Corp., invoice dated January 13. 2, Paid $400 cash for freight charges on the merchandise purchased on January 7. 3,Received $5,600 cash from Delta Co. for computer services provided 4,Paid Kansas Corp. for the invoice dated January 7. net of the discount(Purchased $5,700 of merchandise from Kansa Corp. with terms of 1/10, n/30, FOB shipping point, invoice dated January 7) 5,Chang Corp. returned $500 of defective merchandise from its invoice dated January 13. The returned merchandise, which had a $340 cost, is discarded 6,Received the balance due from Chang Corp., net of both the discount and the credit for the returned merchandise 7,Returned defective merchandise to Kansa Corp. and accepted a credit against future purchases. The defective merchandise invoice cost, net of the discount, was $496

Journal entries for accounting class? QUESTION 1 Dec 13. Purchased accessory items for inventory on credit from Fastwinn Inc. The cash terms are 2/10, n/30, the purchase invoice number 44777, and the goods are shipped FOB shipping point. Net purchase price for the merchandise is $646.80, added freight charges $63.50 and the final net amount of the invoice totals $710.30 Merchandise listed on the purchase invoice: Item: Micro Windshield Qty: 8 Net cost per unit: $44.10 Item: Snowmobile cover Qty: 5 Net cost per unit: $58.80 Freight Charges added to the invoice: $63.50 QUESTION 2 Dec13. Instead of repairing the heavy duty shop hoist at a cost $1,955 and charging this cost to an operating expense account, the hoist, which has one year remaining in its estimated useful life, is completely overhauled at a cost of $3600. This overhaul will extend the useful life of the hoist to four years. QUESTION 3 Dec 14. Sold six Swift snowmobile and six batteries to the Colfax Sno Katts for $50,094 plus sales tax (6%). The club presented a certified check as payment in full for their new equipment. Merchandise listed on the sales invoice: Item: Swift Arrow Qty: 1 Net cost per unit: $9900 Item: Swift Enduro Qty: 5 Net cost per unit: $5940 Item: Super Charger Qty: 6 Net cost per unit: $49.50

Import from China, FOB? I am looking at importing from China recurring goods. I have a potential supplier who has quoted a price per unit, and states it is FOB from Shanghai, terms are Letter of credit or T/T Ok, so the supplier will get the goods to the dock and onto the ship, is that correct, do I ask him for a quote for this service, or does another party deal with that, like a freight forwarder? would that forwarder be here in the uk or there in china? who would I pay to expedite all this, or does an agent take care of all that, I am in scotland uk, so it might be Leith Edinburgh, Glasgow, or maybe Newcastle, I don't know yet. I guess I will have customs vat and the freight charge, is a freight charge expensive, the boxes are 30kgs, 125/65/25 and maybe 10 at first. Any help really appreciated

where to buy ugg goods? http://www.uggdeals.com UGGdeals.Exp.Co.,Ltd is a Chinese professional wholesale and retail trading company. We are engaged in online export business and provide newest and high quality ugg products for international buyers and ebay sellers. All the ugg products are directed toward consumers who value luxury, comfort and the highest quality footwear available. Only the finest materials are used in the construction of our products the highest quality leathers and suedes, and of course, the world's finest sheepskin. We take great care to ensure that every shoe is going to feel great from the moment our consumer tries it on and guarantee a long-lasting comfortable fit. We have accumulated abundant experience and established stable and credible business relationships with customers worldwide. We cooperate directly with factory, so the price of the product are lowest,and the quality are best.With rich experience in dealing with all types of large and small orders, we have developed extensive contacts with many local and international freight organizations. Consequently, we are able to ship our goods safely and reliably to almost anywhere in the world. "Customer the Highest, Quality First" is the principle the company always sticks to. The number one goal of us is to make sure that customers are always satisfied. All the company staff regard "credit value, customer first" as standard, and customers' satisfaction as rule. We are always trying to improve our site and relationship with customers. Welcome customers to negotiate business and establish long-term friendly cooperation relationships with us in the near future.

Accounting Help 10 points!? 1.Merchandise with a sales price of $800 is sold on account with term 2/10, n/30. The journal entry to record the sale would include a a.debit to Cash for $800 b.Debit to Sales Discounts for $16 c.Credit to Sales for $800 d.Debit to Accounts Receivable for $784 2.Using a perpetual inventory system, the entry to record the purchase of $30,000 of merchandise on account would include a a.debit to Sales b.debit to Merchandise Inventory c.credit to Merchandise Inventory d.credit to Sales 3.Anthony Company sold Madison Company merchandise on account FOB shipping point, 2/10, net 30, for $20,000. Anthony prepaid the $300 shipping charge. Which of the following entries does Anthony make to record this sale? a.Accounts Receivable-Madison, debit $20,000; Sales, credit $20,000 b.Accounts Receivable-Madison, debit $20,000; Sales, credit $20,000, and Accounts Receivable-Madison, debit $300; Cash, credit $300 c.Accounts Receivable-Madison, debit $20,500; Sales, credit $20,500 d.Accounts Receivable-Madison, debit $20,000; Sales, credit $20,000, and Freight Out, debit $300; Cash, credit $300

Math question on discounts, trades, and cash? Boeing Truck Company received an invoice showing 10 tires at $115 each, 14 tires at $164 each, and 15 tires at $189 each. Shipping terms are FOB shipping point. Freight is $550; trade discount is 12/6; and a cash discount of 2/10, n/30 is offered. Assuming Boeing paid within the discount period, what did Boeing pay?

Poll: Did you like The Oddysey or The Iliad better? I liked the Iliad better. This was my favorite part: Sing, O goddess, the anger of Achilles son of Peleus, that brought countless ills upon the Achaeans. Many a brave soul did it send hurrying down to Hades, and many a hero did it yield a prey to dogs and vultures, for so were the counsels of Jove fulfilled from the day on which the son of Atreus, king of men, and great Achilles, first fell out with one another. And which of the gods was it that set them on to quarrel? It was the son of Jove and Leto; for he was angry with the king and sent a pestilence upon the host to plague the people, because the son of Atreus had dishonoured Chryses his priest. Now Chryses had come to the ships of the Achaeans to free his daughter, and had brought with him a great ransom: moreover he bore in his hand the sceptre of Apollo wreathed with a suppliant's wreath and he besought the Achaeans, but most of all the two sons of Atreus, who were their chiefs. "Sons of Atreus," he cried, "and all other Achaeans, may the gods who dwell in Olympus grant you to sack the city of Priam, and to reach your homes in safety; but free my daughter, and accept a ransom for her, in reverence to Apollo, son of Jove." On this the rest of the Achaeans with one voice were for respecting the priest and taking the ransom that he offered; but not so Agamemnon, who spoke fiercely to him and sent him roughly away. "Old man," said he, "let me not find you tarrying about our ships, nor yet coming hereafter. Your sceptre of the god and your wreath shall profit you nothing. I will not free her. She shall grow old in my house at Argos far from her own home, busying herself with her loom and visiting my couch; so go, and do not provoke me or it shall be the worse for you." The old man feared him and obeyed. Not a word he spoke, but went by the shore of the sounding sea and prayed apart to King Apollo whom lovely Leto had borne. "Hear me," he cried, "O god of the silver bow, that protectest Chryse and holy Cilla and rulest Tenedos with thy might, hear me oh thou of Sminthe. If I have ever decked your temple with garlands, or burned your thigh-bones in fat of bulls or goats, grant my prayer, and let your arrows avenge these my tears upon the Danaans." Thus did he pray, and Apollo heard his prayer. He came down furious from the summits of Olympus, with his bow and his quiver upon his shoulder, and the arrows rattled on his back with the rage that trembled within him. He sat himself down away from the ships with a face as dark as night, and his silver bow rang death as he shot his arrow in the midst of them. First he smote their mules and their hounds, but presently he aimed his shafts at the people themselves, and all day long the pyres of the dead were burning. For nine whole days he shot his arrows among the people, but upon the tenth day Achilles called them in assembly- moved thereto by Juno, who saw the Achaeans in their death-throes and had compassion upon them. Then, when they were got together, he rose and spoke among them. "Son of Atreus," said he, "I deem that we should now turn roving home if we would escape destruction, for we are being cut down by war and pestilence at once. Let us ask some priest or prophet, or some reader of dreams (for dreams, too, are of Jove) who can tell us why Phoebus Apollo is so angry, and say whether it is for some vow that we have broken, or hecatomb that we have not offered, and whether he will accept the savour of lambs and goats without blemish, so as to take away the plague from us." With these words he sat down, and Calchas son of Thestor, wisest of augurs, who knew things past present and to come, rose to speak. He it was who had guided the Achaeans with their fleet to Ilius, through the prophesyings with which Phoebus Apollo had inspired him. With all sincerity and goodwill he addressed them thus:- "Achilles, loved of heaven, you bid me tell you about the anger of King Apollo, I will therefore do so; but consider first and swear that you will stand by me heartily in word and deed, for I know that I shall offend one who rules the Argives with might, to whom all the Achaeans are in subjection. A plain man cannot stand against the anger of a king, who if he swallow his displeasure now, will yet nurse revenge till he has wreaked it. Consider, therefore, whether or no you will protect me." And Achilles answered, "Fear not, but speak as it is borne in upon you from heaven, for by Apollo, Calchas, to whom you pray, and whose oracles you reveal to us, not a Danaan at our ships shall lay his hand upon you, while I yet live to look upon the face of the earth- no, not though you name Agamemnon himself, who is by far the foremost of the Achaeans." Thereon the seer spoke boldly. "The god," he said, "is angry neither about vow nor hecatomb, but for his priest's sake, whom Agamemnon has dishonoured, in that he would not free his daughter nor take a ransom for her; therefore has he sent these evils upon us, and will yet send others. He will not deliver the Danaans from this pestilence till Agamemnon has restored the girl without fee or ransom to her father, and has sent a holy hecatomb to Chryse. Thus we may perhaps appease him." With these words he sat down, and Agamemnon rose in anger. His heart was black with rage, and his eyes flashed fire as he scowled on Calchas and said, "Seer of evil, you never yet prophesied smooth things concerning me, but have ever loved to foretell that which was evil. You have brought me neither comfort nor performance; and now you come seeing among Danaans, and saying that Apollo has plagued us because I would not take a ransom for this girl, the daughter of Chryses. I have set my heart on keeping her in my own house, for I love her better even than my own wife Clytemnestra, whose peer she is alike in form and feature, in understanding and accomplishments. Still I will give her up if I must, for I would have the people live, not die; but you must find me a prize instead, or I alone among the Argives shall be without one. This is not well; for you behold, all of you, that my prize is to go elsewhither." And Achilles answered, "Most noble son of Atreus, covetous beyond all mankind, how shall the Achaeans find you another prize? We have no common store from which to take one. Those we took from the cities have been awarded; we cannot disallow the awards that have been made already. Give this girl, therefore, to the god, and if ever Jove grants us to sack the city of Troy we will requite you three and fourfold." Then Agamemnon said, "Achilles, valiant though you be, you shall not thus outwit me. You shall not overreach and you shall not persuade me. Are you to keep your own prize, while I sit tamely under my loss and give up the girl at your bidding? Let the Achaeans find me a prize in fair exchange to my liking, or I will come and take your own, or that of Ajax or of Ulysses; and he to whomsoever I may come shall rue my coming. But of this we will take thought hereafter; for the present, let us draw a ship into the sea, and find a crew for her expressly; let us put a hecatomb on board, and let us send Chryseis also; further, let some chief man among us be in command, either Ajax, or Idomeneus, or yourself, son of Peleus, mighty warrior that you are, that we may offer sacrifice and appease the the anger of the god." Achilles scowled at him and answered, "You are steeped in insolence and lust of gain. With what heart can any of the Achaeans do your bidding, either on foray or in open fighting? I came not warring here for any ill the Trojans had done me. I have no quarrel with them. They have not raided my cattle nor my horses, nor cut down my harvests on the rich plains of Phthia; for between me and them there is a great space, both mountain and sounding sea. We have followed you, Sir Insolence! for your pleasure, not ours- to gain satisfaction from the Trojans for your shameless self and for Menelaus. You forget this, and threaten to rob me of the prize for which I have toiled, and which the sons of the Achaeans have given me. Never when the Achaeans sack any rich city of the Trojans do I receive so good a prize as you do, though it is my hands that do the better part of the fighting. When the sharing comes, your share is far the largest, and I, forsooth, must go back to my ships, take what I can get and be thankful, when my labour of fighting is done. Now, therefore, I shall go back to Phthia; it will be much better for me to return home with my ships, for I will not stay here dishonoured to gather gold and substance for you." And Agamemnon answered, "Fly if you will, I shall make you no prayers to stay you. I have others here who will do me honour, and above all Jove, the lord of counsel. There is no king here so hateful to me as you are, for you are ever quarrelsome and ill affected. What though you be brave? Was it not heaven that made you so? Go home, then, with your ships and comrades to lord it over the Myrmidons. I care neither for you nor for your anger; and thus will I do: since Phoebus Apollo is taking Chryseis from me, I shall send her with my ship and my followers, but I shall come to your tent and take your own prize Briseis, that you may learn how much stronger I am than you are, and that another may fear to set himself up as equal or comparable with me." The son of Peleus was furious, and his heart within his shaggy breast was divided whether to draw his sword, push the others aside, and kill the son of Atreus, or to restrain himself and check his anger. While he was thus in two minds, and was drawing his mighty sword from its scabbard, Minerva came down from heaven (for Juno had sent her in the love she bore to them both), and seized the son of Peleus by his yellow hair, visible to him alone, for of the others no man could see her. Achilles turned in amaze, and by the fire that flashed from her eyes at once knew that she was Minerva. "Why are you here," said he, "daughter of aegis-bearing Jove? To see the pride of Agamemnon, son of Atreus? Let me tell you- and it shall surely be- he shall pay for this insolence with his life." And Minerva said, "I come from heaven, if you will hear me, to bid you stay your anger. Juno has sent me, who cares for both of you alike. Cease, then, this brawling, and do not draw your sword; rail at him if you will, and your railing will not be vain, for I tell you- and it shall surely be- that you shall hereafter receive gifts three times as splendid by reason of this present insult. Hold, therefore, and obey." "Goddess," answered Achilles, "however angry a man may be, he must do as you two command him. This will be best, for the gods ever hear the prayers of him who has obeyed them." He stayed his hand on the silver hilt of his sword, and thrust it back into the scabbard as Minerva bade him. Then she went back to Olympus among the other gods, and to the house of aegis-bearing Jove. But the son of Peleus again began railing at the son of Atreus, for he was still in a rage. "Wine-bibber," he cried, "with the face of a dog and the heart of a hind, you never dare to go out with the host in fight, nor yet with our chosen men in ambuscade. You shun this as you do death itself. You had rather go round and rob his prizes from any man who contradicts you. You devour your people, for you are king over a feeble folk; otherwise, son of Atreus, henceforward you would insult no man. Therefore I say, and swear it with a great oath- nay, by this my sceptre which shalt sprout neither leaf nor shoot, nor bud anew from the day on which it left its parent stem upon the mountains- for the axe stripped it of leaf and bark, and now the sons of the Achaeans bear it as judges and guardians of the decrees of heaven- so surely and solemnly do I swear that hereafter they shall look fondly for Achilles and shall not find him. In the day of your distress, when your men fall dying by the murderous hand of Hector, you shall not know how to help them, and shall rend your heart with rage for the hour when you offered insult to the bravest of the Achaeans." With this the son of Peleus dashed his gold-bestudded sceptre on the ground and took his seat, while the son of Atreus was beginning fiercely from his place upon the other side. Then uprose smooth-tongued Nestor, the facile speaker of the Pylians, and the words fell from his lips sweeter than honey. Two generations of men born and bred in Pylos had passed away under his rule, and he was now reigning over the third. With all sincerity and goodwill, therefore, he addressed them thus:- "Of a truth," he said, "a great sorrow has befallen the Achaean land. Surely Priam with his sons would rejoice, and the Trojans be glad at heart if they could hear this quarrel between you two, who are so excellent in fight and counsel. I am older than either of you; therefore be guided by me. Moreover I have been the familiar friend of men even greater than you are, and they did not disregard my counsels. Never again can I behold such men as Pirithous and Dryas shepherd of his people, or as Caeneus, Exadius, godlike Polyphemus, and Theseus son of Aegeus, peer of the immortals. These were the mightiest men ever born upon this earth: mightiest were they, and when they fought the fiercest tribes of mountain savages they utterly overthrew them. I came from distant Pylos, and went about among them, for they would have me come, and I fought as it was in me to do. Not a man now living could withstand them, but they heard my words, and were persuaded by them. So be it also with yourselves, for this is the more excellent way. Therefore, Agamemnon, though you be strong, take not this girl away, for the sons of the Achaeans have already given her to Achilles; and you, Achilles, strive not further with the king, for no man who by the grace of Jove wields a sceptre has like honour with Agamemnon. You are strong, and have a goddess for your mother; but Agamemnon is stronger than you, for he has more people under him. Son of Atreus, check your anger, I implore you; end this quarrel with Achilles, who in the day of battle is a tower of strength to the Achaeans." And Agamemnon answered, "Sir, all that you have said is true, but this fellow must needs become our lord and master: he must be lord of all, king of all, and captain of all, and this shall hardly be. Granted that the gods have made him a great warrior, have they also given him the right to speak with railing?" Achilles interrupted him. "I should be a mean coward," he cried, "were I to give in to you in all things. Order other people about, not me, for I shall obey no longer. Furthermore I say- and lay my saying to your heart- I shall fight neither you nor any man about this girl, for those that take were those also that gave. But of all else that is at my ship you shall carry away nothing by force. Try, that others may see; if you do, my spear shall be reddened with your blood." When they had quarrelled thus angrily, they rose, and broke up the assembly at the ships of the Achaeans. The son of Peleus went back to his tents and ships with the son of Menoetius and his company, while Agamemnon drew a vessel into the water and chose a crew of twenty oarsmen. He escorted Chryseis on board and sent moreover a hecatomb for the god. And Ulysses went as captain. These, then, went on board and sailed their ways over the sea. But the son of Atreus bade the people purify themselves; so they purified themselves and cast their filth into the sea. Then they offered hecatombs of bulls and goats without blemish on the sea-shore, and the smoke with the savour of their sacrifice rose curling up towards heaven. Thus did they busy themselves throughout the host. But Agamemnon did not forget the threat that he had made Achilles, and called his trusty messengers and squires Talthybius and Eurybates. "Go," said he, "to the tent of Achilles, son of Peleus; take Briseis by the hand and bring her hither; if he will not give her I shall come with others and take her- which will press him harder." He charged them straightly further and dismissed them, whereon they went their way sorrowfully by the seaside, till they came to the tents and ships of the Myrmidons. They found Achilles sitting by his tent and his ships, and ill-pleased he was when he beheld them. They stood fearfully and reverently before him, and never a word did they speak, but he knew them and said, "Welcome, heralds, messengers of gods and men; draw near; my quarrel is not with you but with Agamemnon who has sent you for the girl Briseis. Therefore, Patroclus, bring her and give her to them, but let them be witnesses by the blessed gods, by mortal men, and by the fierceness of Agamemnon's anger, that if ever again there be need of me to save the people from ruin, they shall seek and they shall not find. Agamemnon is mad with rage and knows not how to look before and after that the Achaeans may fight by their ships in safety." Patroclus did as his dear comrade had bidden him. He brought Briseis from the tent and gave her over to the heralds, who took her with them to the ships of the Achaeans- and the woman was loth to go. Then Achilles went all alone by the side of the hoar sea, weeping and looking out upon the boundless waste of waters. He raised his hands in prayer to his immortal mother, "Mother," he cried, "you bore me doomed to live but for a little season; surely Jove, who thunders from Olympus, might have made that little glorious. It is not so. Agamemnon, son of Atreus, has done me dishonour, and has robbed me of my prize by force." As he spoke he wept aloud, and his mother heard him where she was sitting in the depths of the sea hard by the old man her father. Forthwith she rose as it were a grey mist out of the waves, sat down before him as he stood weeping, caressed him with her hand, and said, "My son, why are you weeping? What is it that grieves you? Keep it not from me, but tell me, that we may know it together." Achilles drew a deep sigh and said, "You know it; why tell you what you know well already? We went to Thebe the strong city of Eetion, sacked it, and brought hither the spoil. The sons of the Achaeans shared it duly among themselves, and chose lovely Chryseis as the meed of Agamemnon; but Chryses, priest of Apollo, came to the ships of the Achaeans to free his daughter, and brought with him a great ransom: moreover he bore in his hand the sceptre of Apollo, wreathed with a suppliant's wreath, and he besought the Achaeans, but most of all the two sons of Atreus who were their chiefs. "On this the rest of the Achaeans with one voice were for respecting the priest and taking the ransom that he offered; but not so Agamemnon, who spoke fiercely to him and sent him roughly away. So he went back in anger, and Apollo, who loved him dearly, heard his prayer. Then the god sent a deadly dart upon the Argives, and the people died thick on one another, for the arrows went everywhither among the wide host of the Achaeans. At last a seer in the fulness of his knowledge declared to us the oracles of Apollo, and I was myself first to say that we should appease him. Whereon the son of Atreus rose in anger, and threatened that which he has since done. The Achaeans are now taking the girl in a ship to Chryse, and sending gifts of sacrifice to the god; but the heralds have just taken from my tent the daughter of Briseus, whom the Achaeans had awarded to myself. "Help your brave son, therefore, if you are able. Go to Olympus, and if you have ever done him service in word or deed, implore the aid of Jove. Ofttimes in my father's house have I heard you glory in that you alone of the immortals saved the son of Saturn from ruin, when the others, with Juno, Neptune, and Pallas Minerva would have put him in bonds. It was you, goddess, who delivered him by calling to Olympus the hundred-handed monster whom gods call Briareus, but men Aegaeon, for he is stronger even than his father; when therefore he took his seat all-glorious beside the son of Saturn, the other gods were afraid, and did not bind him. Go, then, to him, remind him of all this, clasp his knees, and bid him give succour to the Trojans. Let the Achaeans be hemmed in at the sterns of their ships, and perish on the sea-shore, that they may reap what joy they may of their king, and that Agamemnon may rue his blindness in offering insult to the foremost of the Achaeans." Thetis wept and answered, "My son, woe is me that I should have borne or suckled you. Would indeed that you had lived your span free from all sorrow at your ships, for it is all too brief; alas, that you should be at once short of life and long of sorrow above your peers: woe, therefore, was the hour in which I bore you; nevertheless I will go to the snowy heights of Olympus, and tell this tale to Jove, if he will hear our prayer: meanwhile stay where you are with your ships, nurse your anger against the Achaeans, and hold aloof from fight. For Jove went yesterday to Oceanus, to a feast among the Ethiopians, and the other gods went with him. He will return to Olympus twelve days hence; I will then go to his mansion paved with bronze and will beseech him; nor do I doubt that I shall be able to persuade him." On this she left him, still furious at the loss of her that had been taken from him. Meanwhile Ulysses reached Chryse with the hecatomb. When they had come inside the harbour they furled the sails and laid them in the ship's hold; they slackened the forestays, lowered the mast into its place, and rowed the ship to the place where they would have her lie; there they cast out their mooring-stones and made fast the hawsers. They then got out upon the sea-shore and landed the hecatomb for Apollo; Chryseis also left the ship, and Ulysses led her to the altar to deliver her into the hands of her father. "Chryses," said he, "King Agamemnon has sent me to bring you back your child, and to offer sacrifice to Apollo on behalf of the Danaans, that we may propitiate the god, who has now brought sorrow upon the Argives." So saying he gave the girl over to her father, who received her gladly, and they ranged the holy hecatomb all orderly round the altar of the god. They washed their hands and took up the barley-meal to sprinkle over the victims, while Chryses lifted up his hands and prayed aloud on their behalf. "Hear me," he cried, "O god of the silver bow, that protectest Chryse and holy Cilla, and rulest Tenedos with thy might. Even as thou didst hear me aforetime when I prayed, and didst press hardly upon the Achaeans, so hear me yet again, and stay this fearful pestilence from the Danaans." Thus did he pray, and Apollo heard his prayer. When they had done praying and sprinkling the barley-meal, they drew back the heads of the victims and killed and flayed them. They cut out the thigh-bones, wrapped them round in two layers of fat, set some pieces of raw meat on the top of them, and then Chryses laid them on the wood fire and poured wine over them, while the young men stood near him with five-pronged spits in their hands. When the thigh-bones were burned and they had tasted the inward meats, they cut the rest up small, put the pieces upon the spits, roasted them till they were done, and drew them off: then, when they had finished their work and the feast was ready, they ate it, and every man had his full share, so that all were satisfied. As soon as they had had enough to eat and drink, pages filled the mixing-bowl with wine and water and handed it round, after giving every man his drink-offering. Thus all day long the young men worshipped the god with song, hymning him and chaunting the joyous paean, and the god took pleasure in their voices; but when the sun went down, and it came on dark, they laid themselves down to sleep by the stern cables of the ship, and when the child of morning, rosy-fingered Dawn, appeared they again set sail for the host of the Achaeans. Apollo sent them a fair wind, so they raised their mast and hoisted their white sails aloft. As the sail bellied with the wind the ship flew through the deep blue water, and the foam hissed against her bows as she sped onward. When they reached the wide-stretching host of the Achaeans, they drew the vessel ashore, high and dry upon the sands, set her strong props beneath her, and went their ways to their own tents and ships. But Achilles abode at his ships and nursed his anger. He went not to the honourable assembly, and sallied not forth to fight, but gnawed at his own heart, pining for battle and the war-cry. Now after twelve days the immortal gods came back in a body to Olympus, and Jove led the way. Thetis was not unmindful of the charge her son had laid upon her, so she rose from under the sea and went through great heaven with early morning to Olympus, where she found the mighty son of Saturn sitting all alone upon its topmost ridges. She sat herself down before him, and with her left hand seized his knees, while with her right she caught him under the chin, and besought him, saying- "Father Jove, if I ever did you service in word or deed among the immortals, hear my prayer, and do honour to my son, whose life is to be cut short so early. King Agamemnon has dishonoured him by taking his prize and keeping her. Honour him then yourself, Olympian lord of counsel, and grant victory to the Trojans, till the Achaeans give my son his due and load him with riches in requital." Jove sat for a while silent, and without a word, but Thetis still kept firm hold of his knees, and besought him a second time. "Incline your head," said she, "and promise me surely, or else deny me- for you have nothing to fear- that I may learn how greatly you disdain me." At this Jove was much troubled and answered, "I shall have trouble if you set me quarrelling with Juno, for she will provoke me with her taunting speeches; even now she is always railing at me before the other gods and accusing me of giving aid to the Trojans. Go back now, lest she should find out. I will consider the matter, and will bring it about as wish. See, I incline my head that you believe me. This is the most solemn that I can give to any god. I never recall my word, or deceive, or fail to do what I say, when I have nodded my head." As he spoke the son of Saturn bowed his dark brows, and the ambrosial locks swayed on his immortal head, till vast Olympus reeled. When the pair had thus laid their plans, they parted- Jove to his house, while the goddess quitted the splendour of Olympus, and plunged into the depths of the sea. The gods rose from their seats, before the coming of their sire. Not one of them dared to remain sitting, but all stood up as he came among them. There, then, he took his seat. But Juno, when she saw him, knew that he and the old merman's daughter, silver-footed Thetis, had been hatching mischief, so she at once began to upbraid him. "Trickster," she cried, "which of the gods have you been taking into your counsels now? You are always settling matters in secret behind my back, and have never yet told me, if you could help it, one word of your intentions." "Juno," replied the sire of gods and men, "you must not expect to be informed of all my counsels. You are my wife, but you would find it hard to understand them. When it is proper for you to hear, there is no one, god or man, who will be told sooner, but when I mean to keep a matter to myself, you must not pry nor ask questions." "Dread son of Saturn," answered Juno, "what are you talking about? I? Pry and ask questions? Never. I let you have your own way in everything. Still, I have a strong misgiving that the old merman's daughter Thetis has been talking you over, for she was with you and had hold of your knees this self-same morning. I believe, therefore, that you have been promising her to give glory to Achilles, and to kill much people at the ships of the Achaeans." "Wife," said Jove, "I can do nothing but you suspect me and find it out. You will take nothing by it, for I shall only dislike you the more, and it will go harder with you. Granted that it is as you say; I mean to have it so; sit down and hold your tongue as I bid you for if I once begin to lay my hands about you, though all heaven were on your side it would profit you nothing." On this Juno was frightened, so she curbed her stubborn will and sat down in silence. But the heavenly beings were disquieted throughout the house of Jove, till the cunning workman Vulcan began to try and pacify his mother Juno. "It will be intolerable," said he, "if you two fall to wrangling and setting heaven in an uproar about a pack of mortals. If such ill counsels are to prevail, we shall have no pleasure at our banquet. Let me then advise my mother- and she must herself know that it will be better- to make friends with my dear father Jove, lest he again scold her and disturb our feast. If the Olympian Thunderer wants to hurl us all from our seats, he can do so, for he is far the strongest, so give him fair words, and he will then soon be in a good humour with us." As he spoke, he took a double cup of nectar, and placed it in his mother's hand. "Cheer up, my dear mother," said he, "and make the best of it. I love you dearly, and should be very sorry to see you get a thrashing; however grieved I might be, I could not help for there is no standing against Jove. Once before when I was trying to help you, he caught me by the foot and flung me from the heavenly threshold. All day long from morn till eve, was I falling, till at sunset I came to ground in the island of Lemnos, and there I lay, with very little life left in me, till the Sintians came and tended me." Juno smiled at this, and as she smiled she took the cup from her son's hands. Then Vulcan drew sweet nectar from the mixing-bowl, and served it round among the gods, going from left to right; and the blessed gods laughed out a loud applause as they saw him ing bustling about the heavenly mansion. Thus through the livelong day to the going down of the sun they feasted, and every one had his full share, so that all were satisfied. Apollo struck his lyre, and the Muses lifted up their sweet voices, calling and answering one another. But when the sun's glorious light had faded, they went home to bed, each in his own abode, which lame Vulcan with his consummate skill had fashioned for them. So Jove, the Olympian Lord of Thunder, hied him to the bed in which he always slept; and when he had got on to it he went to sleep, with Juno of the golden throne by his side. Now the other gods and the armed warriors on the plain slept soundly, but Jove was wakeful, for he was thinking how to do honour to Achilles, and destroyed much people at the ships of the Achaeans. In the end he deemed it would be best to send a lying dream to King Agamemnon; so he called one to him and said to it, "Lying Dream, go to the ships of the Achaeans, into the tent of Agamemnon, and say to him word to word as I now bid you. Tell him to get the Achaeans instantly under arms, for he shall take Troy. There are no longer divided counsels among the gods; Juno has brought them to her own mind, and woe betides the Trojans." The dream went when it had heard its message, and soon reached the ships of the Achaeans. It sought Agamemnon son of Atreus and found him in his tent, wrapped in a profound slumber. It hovered over his head in the likeness of Nestor, son of Neleus, whom Agamemnon honoured above all his councillors, and said:- "You are sleeping, son of Atreus; one who has the welfare of his host and so much other care upon his shoulders should dock his sleep. Hear me at once, for I come as a messenger from Jove, who, though he be not near, yet takes thought for you and pities you. He bids you get the Achaeans instantly under arms, for you shall take Troy. There are no longer divided counsels among the gods; Juno has brought them over to her own mind, and woe betides the Trojans at the hands of Jove. Remember this, and when you wake see that it does not escape you." The dream then left him, and he thought of things that were, surely not to be accomplished. He thought that on that same day he was to take the city of Priam, but he little knew what was in the mind of Jove, who had many another hard-fought fight in store alike for Danaans and Trojans. Then presently he woke, with the divine message still ringing in his ears; so he sat upright, and put on his soft shirt so fair and new, and over this his heavy cloak. He bound his sandals on to his comely feet, and slung his silver-studded sword about his shoulders; then he took the imperishable staff of his father, and sallied forth to the ships of the Achaeans. The goddess Dawn now wended her way to vast Olympus that she might herald day to Jove and to the other immortals, and Agamemnon sent the criers round to call the people in assembly; so they called them and the people gathered thereon. But first he summoned a meeting of the elders at the ship of Nestor king of Pylos, and when they were assembled he laid a cunning counsel before them. "My friends," said he, "I have had a dream from heaven in the dead of night, and its face and figure resembled none but Nestor's. It hovered over my head and said, 'You are sleeping, son of Atreus; one who has the welfare of his host and so much other care upon his shoulders should dock his sleep. Hear me at once, for I am a messenger from Jove, who, though he be not near, yet takes thought for you and pities you. He bids you get the Achaeans instantly under arms, for you shall take Troy. There are no longer divided counsels among the gods; Juno has brought them over to her own mind, and woe betides the Trojans at the hands of Jove. Remember this.' The dream then vanished and I awoke. Let us now, therefore, arm the sons of the Achaeans. But it will be well that I should first sound them, and to this end I will tell them to fly with their ships; but do you others go about among the host and prevent their doing so." He then sat down, and Nestor the prince of Pylos with all sincerity and goodwill addressed them thus: "My friends," said he, "princes and councillors of the Argives, if any other man of the Achaeans had told us of this dream we should have declared it false, and would have had nothing to do with it. But he who has seen it is the foremost man among us; we must therefore set about getting the people under arms." With this he led the way from the assembly, and the other sceptred kings rose with him in obedience to the word of Agamemnon; but the people pressed forward to hear. They swarmed like bees that sally from some hollow cave and flit in countless throng among the spring flowers, bunched in knots and clusters; even so did the mighty multitude pour from ships and tents to the assembly, and range themselves upon the wide-watered shore, while among them ran Wildfire Rumour, messenger of Jove, urging them ever to the fore. Thus they gathered in a pell-mell of mad confusion, and the earth groaned under the tramp of men as the people sought their places. Nine heralds went crying about among them to stay their tumult and bid them listen to the kings, till at last they were got into their several places and ceased their clamour. Then King Agamemnon rose, holding his sceptre. This was the work of Vulcan, who gave it to Jove the son of Saturn. Jove gave it to Mercury, slayer of Argus, guide and guardian. King Mercury gave it to Pelops, the mighty charioteer, and Pelops to Atreus, shepherd of his people. Atreus, when he died, left it to Thyestes, rich in flocks, and Thyestes in his turn left it to be borne by Agamemnon, that he might be lord of all Argos and of the isles. Leaning, then, on his sceptre, he addressed the Argives. "My friends," he said, "heroes, servants of Mars, the hand of heaven has been laid heavily upon me. Cruel Jove gave me his solemn promise that I should sack the city of Priam before returning, but he has played me false, and is now bidding me go ingloriously back to Argos with the loss of much people. Such is the will of Jove, who has laid many a proud city in the dust, as he will yet lay others, for his power is above all. It will be a sorry tale hereafter that an Achaean host, at once so great and valiant, battled in vain against men fewer in number than themselves; but as yet the end is not in sight. Think that the Achaeans and Trojans have sworn to a solemn covenant, and that they have each been numbered- the Trojans by the roll of their householders, and we by companies of ten; think further that each of our companies desired to have a Trojan householder to pour out their wine; we are so greatly more in number that full many a company would have to go without its cup-bearer. But they have in the town allies from other places, and it is these that hinder me from being able to sack the rich city of Ilius. Nine of Jove years are gone; the timbers of our ships have rotted; their tackling is sound no longer. Our wives and little ones at home look anxiously for our coming, but the work that we came hither to do has not been done. Now, therefore, let us all do as I say: let us sail back to our own land, for we shall not take Troy." With these words he moved the hearts of the multitude, so many of them as knew not the cunning counsel of Agamemnon. They surged to and fro like the waves of the Icarian Sea, when the east and south winds break from heaven's clouds to lash them; or as when the west wind sweeps over a field of corn and the ears bow beneath the blast, even so were they swayed as they flew with loud cries towards the ships, and the dust from under their feet rose heavenward. They cheered each other on to draw the ships into the sea; they cleared the channels in front of them; they began taking away the stays from underneath them, and the welkin rang with their glad cries, so eager were they to return. Then surely the Argives would have returned after a fashion that was not fated. But Juno said to Minerva, "Alas, daughter of aegis-bearing Jove, unweariable, shall the Argives fly home to their own land over the broad sea, and leave Priam and the Trojans the glory of still keeping Helen, for whose sake so many of the Achaeans have died at Troy, far from their homes? Go about at once among the host, and speak fairly to them, man by man, that they draw not their ships into the sea." Minerva was not slack to do her bidding. Down she darted from the topmost summits of Olympus, and in a moment she was at the ships of the Achaeans. There she found Ulysses, peer of Jove in counsel, standing alone. He had not as yet laid a hand upon his ship, for he was grieved and sorry; so she went close up to him and said, "Ulysses, noble son of Laertes, are you going to fling yourselves into your ships and be off home to your own land in this way? Will you leave Priam and the Trojans the glory of still keeping Helen, for whose sake so many of the Achaeans have died at Troy, far from their homes? Go about at once among the host, and speak fairly to them, man by man, that they draw not their ships into the sea." Ulysses knew the voice as that of the goddess: he flung his cloak from him and set off to run. His servant Eurybates, a man of Ithaca, who waited on him, took charge of the cloak, whereon Ulysses went straight up to Agamemnon and received from him his ancestral, imperishable staff. With this he went about among the ships of the Achaeans. Whenever he met a king or chieftain, he stood by him and spoke him fairly. "Sir," said he, "this flight is cowardly and unworthy. Stand to your post, and bid your people also keep their places. You do not yet know the full mind of Agamemnon; he was sounding us, and ere long will visit the Achaeans with his displeasure. We were not all of us at the council to hear what he then said; see to it lest he be angry and do us a mischief; for the pride of kings is great, and the hand of Jove is with them." But when he came across any common man who was making a noise, he struck him with his staff and rebuked him, saying, "Sirrah, hold your peace, and listen to better men than yourself. You are a coward and no soldier; you are nobody either in fight or council; we cannot all be kings; it is not well that there should be many masters; one man must be supreme- one king to whom the son of scheming Saturn has given the sceptre of sovereignty over you all." Thus masterfully did he go about among the host, and the people hurried back to the council from their tents and ships with a sound as the thunder of surf when it comes crashing down upon the shore, and all the sea is in an uproar. The rest now took their seats and kept to their own several places, but Thersites still went on wagging his unbridled tongue- a man of many words, and those unseemly; a monger of sedition, a railer against all who were in authority, who cared not what he said, so that he might set the Achaeans in a laugh. He was the ugliest man of all those that came before Troy- bandy-legged, lame of one foot, with his two shoulders rounded and hunched over his chest. His head ran up to a point, but there was little hair on the top of it. Achilles and Ulysses hated him worst of all, for it was with them that he was most wont to wrangle; now, however, with a shrill squeaky voice he began heaping his abuse on Agamemnon. The Achaeans were angry and disgusted, yet none the less he kept on brawling and bawling at the son of Atreus. "Agamemnon," he cried, "what ails you now, and what more do you want? Your tents are filled with bronze and with fair women, for whenever we take a town we give you the pick of them. Would you have yet more gold, which some Trojan is to give you as a ransom for his son, when I or another Achaean has taken him prisoner? or is it some young girl to hide and lie with? It is not well that you, the ruler of the Achaeans, should bring them into such misery. Weakling cowards, women rather than men, let us sail home, and leave this fellow here at Troy to stew in his own meeds of honour, and discover whether we were of any service to him or no. Achilles is a much better man than he is, and see how he has treated him- robbing him of his prize and keeping it himself. Achilles takes it meekly and shows no fight; if he did, son of Atreus, you would never again insult him." Thus railed Thersites, but Ulysses at once went up to him and rebuked him sternly. "Check your glib tongue, Thersites," said be, "and babble not a word further. Chide not with princes when you have none to back you. There is no viler creature come before Troy with the sons of Atreus. Drop this chatter about kings, and neither revile them nor keep harping about going home. We do not yet know how things are going to be, nor whether the Achaeans are to return with good success or evil. How dare you gibe at Agamemnon because the Danaans have awarded him so many prizes? I tell you, therefore- and it shall surely be- that if I again catch you talking such nonsense, I will either forfeit my own head and be no more called father of Telemachus, or I will take you, strip you stark naked, and whip you out of the assembly till you go blubbering back to the ships." On this he beat him with his staff about the back and shoulders till he dropped and fell a-weeping. The golden sceptre raised a bloody weal on his back, so he sat down frightened and in pain, looking foolish as he wiped the tears from his eyes. The people were sorry for him, yet they laughed heartily, and one would turn to his neighbour saying, "Ulysses has done many a good thing ere now in fight and council, but he never did the Argives a better turn than when he stopped this fellow's mouth from prating further. He will give the kings no more of his insolence." Thus said the people. Then Ulysses rose, sceptre in hand, and Minerva in the likeness of a herald bade the people be still, that those who were far off might hear him and consider his council. He therefore with all sincerity and goodwill addressed them thus:- "King Agamemnon, the Achaeans are for making you a by-word among all mankind. They forget the promise they made you when they set out from Argos, that you should not return till you had sacked the town of Troy, and, like children or widowed women, they murmur and would set off homeward. True it is that they have had toil enough to be disheartened. A man chafes at having to stay away from his wife even for a single month, when he is on shipboard, at the mercy of wind and sea, but it is now nine long years that we have been kept here; I cannot, therefore, blame the Achaeans if they turn restive; still we shall be shamed if we go home empty after so long a stay- therefore, my friends, be patient yet a little longer that we may learn whether the prophesyings of Calchas were false or true. "All who have not since perished must remember as though it were yesterday or the day before, how the ships of the Achaeans were detained in Aulis when we were on our way hither to make war on Priam and the Trojans. We were ranged round about a fountain offering hecatombs to the gods upon their holy altars, and there was a fine plane-tree from beneath which there welled a stream of pure water. Then we saw a prodigy; for Jove sent a fearful serpent out of the ground, with blood-red stains upon its back, and it darted from under the altar on to the plane-tree. Now there was a brood of young sparrows, quite small, upon the topmost bough, peeping out from under the leaves, eight in all, and their mother that hatched them made nine. The serpent ate the poor cheeping things, while the old bird flew about lamenting her little ones; but the serpent threw his coils about her and caught her by the wing as she was screaming. Then, when he had eaten both the sparrow and her young, the god who had sent him made him become a sign; for the son of scheming Saturn turned him into stone, and we stood there wondering at that which had come to pass. Seeing, then, that such a fearful portent had broken in upon our hecatombs, Calchas forthwith declared to us the oracles of heaven. 'Why, Achaeans,' said he, 'are you thus speechless? Jove has sent us this sign, long in coming, and long ere it be fulfilled, though its fame shall last for ever. As the serpent ate the eight fledglings and the sparrow that hatched them, which makes nine, so shall we fight nine years at Troy, but in the tenth shall take the town.' This was what he said, and now it is all coming true. Stay here, therefore, all of you, till we take the city of Priam." On this the Argives raised a shout, till the ships rang again with the uproar. Nestor, knight of Gerene, then addressed them. "Shame on you," he cried, "to stay talking here like children, when you should fight like men. Where are our covenants now, and where the oaths that we have taken? Shall our counsels be flung into the fire, with our drink-offerings and the right hands of fellowship wherein we have put our trust? We waste our time in words, and for all our talking here shall be no further forward. Stand, therefore, son of Atreus, by your own steadfast purpose; lead the Argives on to battle, and leave this handful of men to rot, who scheme, and scheme in vain, to get back to Argos ere they have learned whether Jove be true or a liar. For the mighty son of Saturn surely promised that we should succeed, when we Argives set sail to bring death and destruction upon the Trojans. He showed us favourable signs by flashing his lightning on our right hands; therefore let none make haste to go till he has first lain with the wife of some Trojan, and avenged the toil and sorrow that he has suffered for the sake of Helen. Nevertheless, if any man is in such haste to be at home again, let him lay his hand to his ship that he may meet his doom in the sight of all. But, O king, consider and give ear to my counsel, for the word that I say may not be neglected lightly. Divide your men, Agamemnon, into their several tribes and clans, that clans and tribes may stand by and help one another. If you do this, and if the Achaeans obey you, you will find out who, both chiefs and peoples, are brave, and who are cowards; for they will vie against the other. Thus you shall also learn whether it is through the counsel of heaven or the cowardice of man that you shall fail to take the town." And Agamemnon answered, "Nestor, you have again outdone the sons of the Achaeans in counsel. Would, by Father Jove, Minerva, and Apollo, that I had among them ten more such councillors, for the city of King Priam would then soon fall beneath our hands, and we should sack it. But the son of Saturn afflicts me with bootless wranglings and strife. Achilles and I are quarrelling about this girl, in which matter I was the first to offend; if we can be of one mind again, the Trojans will not stave off destruction for a day. Now, therefore, get your morning meal, that our hosts join in fight. Whet well your spears; see well to the ordering of your shields; give good feeds to your horses, and look your chariots carefully over, that we may do battle the livelong day; for we shall have no rest, not for a moment, till night falls to part us. The bands that bear your shields shall be wet with the sweat upon your shoulders, your hands shall weary upon your spears, your horses shall steam in front of your chariots, and if I see any man shirking the fight, or trying to keep out of it at the ships, there shall be no help for him, but he shall be a prey to dogs and vultures." Thus he spoke, and the Achaeans roared applause. As when the waves run high before the blast of the south wind and break on some lofty headland, dashing against it and buffeting it without ceasing, as the storms from every quarter drive them, even so did the Achaeans rise and hurry in all directions to their ships. There they lighted their fires at their tents and got dinner, offering sacrifice every man to one or other of the gods, and praying each one of them that he might live to come out of the fight. Agamemnon, king of men, sacrificed a fat five-year-old bull to the mighty son of Saturn, and invited the princes and elders of his host. First he asked Nestor and King Idomeneus, then the two Ajaxes and the son of Tydeus, and sixthly Ulysses, peer of gods in counsel; but Menelaus came of his own accord, for he knew how busy his brother then was. They stood round the bull with the barley-meal in their hands, and Agamemnon prayed, saying, "Jove, most glorious, supreme, that dwellest in heaven, and ridest upon the storm-cloud, grant that the sun may not go down, nor the night fall, till the palace of Priam is laid low, and its gates are consumed with fire. Grant that my sword may pierce the shirt of Hector about his heart, and that full many of his comrades may bite the dust as they fall dying round him." Thus he prayed, but the son of Saturn would not fulfil his prayer. He accepted the sacrifice, yet none the less increased their toil continually. When they had done praying and sprinkling the barley-meal upon the victim, they drew back its head, killed it, and then flayed it. They cut out the thigh-bones, wrapped them round in two layers of fat, and set pieces of raw meat on the top of them. These they burned upon the split logs of firewood, but they spitted the inward meats, and held them in the flames to cook. When the thigh-bones were burned, and they had tasted the inward meats, they cut the rest up small, put the pieces upon spits, roasted them till they were done, and drew them off; then, when they had finished their work and the feast was ready, they ate it, and every man had his full share, so that all were satisfied. As soon as they had had enough to eat and drink, Nestor, knight of Gerene, began to speak. "King Agamemnon," said he, "let us not stay talking here, nor be slack in the work that heaven has put into our hands. Let the heralds summon the people to gather at their several ships; we will then go about among the host, that we may begin fighting at once." Thus did he speak, and Agamemnon heeded his words. He at once sent the criers round to call the people in assembly. So they called them, and the people gathered thereon. The chiefs about the son of Atreus chose their men and marshalled them, while Minerva went among them holding her priceless aegis that knows neither age nor death. From it there waved a hundred tassels of pure gold, all deftly woven, and each one of them worth a hundred oxen. With this she darted furiously everywhere among the hosts of the Achaeans, urging them forward, and putting courage into the heart of each, so that he might fight and do battle without ceasing. Thus war became sweeter in their eyes even than returning home in their ships. As when some great forest fire is raging upon a mountain top and its light is seen afar, even so as they marched the gleam of their armour flashed up into the firmament of heaven. They were like great flocks of geese, or cranes, or swans on the plain about the waters of Cayster, that wing their way hither and thither, glorying in the pride of flight, and crying as they settle till the fen is alive with their screaming. Even thus did their tribes pour from ships and tents on to the plain of the Scamander, and the ground rang as brass under the feet of men and horses. They stood as thick upon the flower-bespangled field as leaves that bloom in summer. As countless swarms of flies buzz around a herdsman's homestead in the time of spring when the pails are drenched with milk, even so did the Achaeans swarm on to the plain to charge the Trojans and destroy them. The chiefs disposed their men this way and that before the fight began, drafting them out as easily as goatherds draft their flocks when they have got mixed while feeding; and among them went King Agamemnon, with a head and face like Jove the lord of thunder, a waist like Mars, and a chest like that of Neptune. As some great bull that lords it over the herds upon the plain, even so did Jove make the son of Atreus stand peerless among the multitude of heroes. And now, O Muses, dwellers in the mansions of Olympus, tell me- for you are goddesses and are in all places so that you see all things, while we know nothing but by report- who were the chiefs and princes of the Danaans? As for the common soldiers, they were so that I could not name every single one of them though I had ten tongues, and though my voice failed not and my heart were of bronze within me, unless you, O Olympian Muses, daughters of aegis-bearing Jove, were to recount them to me. Nevertheless, I will tell the captains of the ships and all the fleet together. Peneleos, Leitus, Arcesilaus, Prothoenor, and Clonius were captains of the Boeotians. These were they that dwelt in Hyria and rocky Aulis, and who held Schoenus, Scolus, and the highlands of Eteonus, with Thespeia, Graia, and the fair city of Mycalessus. They also held Harma, Eilesium, and Erythrae; and they had Eleon, Hyle, and Peteon; Ocalea and the strong fortress of Medeon; Copae, Eutresis, and Thisbe the haunt of doves; Coronea, and the pastures of Haliartus; Plataea and Glisas; the fortress of Thebes the less; holy Onchestus with its famous grove of Neptune; Arne rich in vineyards; Midea, sacred Nisa, and Anthedon upon the sea. From these there came fifty ships, and in each there were a hundred and twenty young men of the Boeotians. Ascalaphus and Ialmenus, sons of Mars, led the people that dwelt in Aspledon and Orchomenus the realm of Minyas. Astyoche a noble maiden bore them in the house of Actor son of Azeus; for she had gone with Mars secretly into an upper chamber, and he had lain with her. With these there came thirty ships. The Phoceans were led by Schedius and Epistrophus, sons of mighty Iphitus the son of Naubolus. These were they that held Cyparissus, rocky Pytho, holy Crisa, Daulis, and Panopeus; they also that dwelt in Anemorea and Hyampolis, and about the waters of the river Cephissus, and Lilaea by the springs of the Cephissus; with their chieftains came forty ships, and they marshalled the forces of the Phoceans, which were stationed next to the Boeotians, on their left. Ajax, the fleet son of Oileus, commanded the Locrians. He was not so great, nor nearly so great, as Ajax the son of Telamon. He was a little man, and his breastplate was made of linen, but in use of the spear he excelled all the Hellenes and the Achaeans. These dwelt in Cynus, Opous, Calliarus, Bessa, Scarphe, fair Augeae, Tarphe, and Thronium about the river Boagrius. With him there came forty ships of the Locrians who dwell beyond Euboea. The fierce Abantes held Euboea with its cities, Chalcis, Eretria, Histiaea rich in vines, Cerinthus upon the sea, and the rock-perched town of Dium; with them were also the men of Carystus and Styra; Elephenor of the race of Mars was in command of these; he was son of Chalcodon, and chief over all the Abantes. With him they came, fleet of foot and wearing their hair long behind, brave warriors, who would ever strive to tear open the corslets of their foes with their long ashen spears. Of these there came fifty ships. And they that held the strong city of Athens, the people of great Erechtheus, who was born of the soil itself, but Jove's daughter, Minerva, fostered him, and established him at Athens in her own rich sanctuary. There, year by year, the Athenian youths worship him with sacrifices of bulls and rams. These were commanded by Menestheus, son of Peteos. No man living could equal him in the marshalling of chariots and foot soldiers. Nestor could alone rival him, for he was older. With him there came fifty ships. Ajax brought twelve ships from Salamis, and stationed them alongside those of the Athenians. The men of Argos, again, and those who held the walls of Tiryns, with Hermione, and Asine upon the gulf; Troezene, Eionae, and the vineyard lands of Epidaurus; the Achaean youths, moreover, who came from Aegina and Mases; these were led by Diomed of the loud battle-cry, and Sthenelus son of famed Capaneus. With them in command was Euryalus, son of king Mecisteus, son of Talaus; but Diomed was chief over them all. With these there came eighty ships. Those who held the strong city of Mycenae, rich Corinth and Cleonae; Orneae, Araethyrea, and Licyon, where Adrastus reigned of old; Hyperesia, high Gonoessa, and Pellene; Aegium and all the coast-land round about Helice; these sent a hundred ships under the command of King Agamemnon, son of Atreus. His force was far both finest and most numerous, and in their midst was the king himself, all glorious in his armour of gleaming bronze- foremost among the heroes, for he was the greatest king, and had most men under him. And those that dwelt in Lacedaemon, lying low among the hills, Pharis, Sparta, with Messe the haunt of doves; Bryseae, Augeae, Amyclae, and Helos upon the sea; Laas, moreover, and Oetylus; these were led by Menelaus of the loud battle-cry, brother to Agamemnon, and of them there were sixty ships, drawn up apart from the others. Among them went Menelaus himself, strong in zeal, urging his men to fight; for he longed to avenge the toil and sorrow that he had suffered for the sake of Helen. The men of Pylos and Arene, and Thryum where is the ford of the river Alpheus; strong Aipy, Cyparisseis, and Amphigenea; Pteleum, Helos, and Dorium, where the Muses met Thamyris, and stilled his minstrelsy for ever. He was returning from Oechalia, where Eurytus lived and reigned, and boasted that he would surpass even the Muses, daughters of aegis-bearing Jove, if they should sing against him; whereon they were angry, and maimed him. They robbed him of his divine power of song, and thenceforth he could strike the lyre no more. These were commanded by Nestor, knight of Gerene, and with him there came ninety ships. And those that held Arcadia, under the high mountain of Cyllene, near the tomb of Aepytus, where the people fight hand to hand; the men of Pheneus also, and Orchomenus rich in flocks; of Rhipae, Stratie, and bleak Enispe; of Tegea and fair Mantinea; of Stymphelus and Parrhasia; of these King Agapenor son of Ancaeus was commander, and they had sixty ships. Many Arcadians, good soldiers, came in each one of them, but Agamemnon found them the ships in which to cross the sea, for they were not a people that occupied their business upon the waters. The men, moreover, of Buprasium and of Elis, so much of it as is enclosed between Hyrmine, Myrsinus upon the sea-shore, the rock Olene and Alesium. These had four leaders, and each of them had ten ships, with many Epeans on board. Their captains were Amphimachus and Thalpius- the one, son of Cteatus, and the other, of Eurytus- both of the race of Actor. The two others were Diores, son of Amarynces, and Polyxenus, son of King Agasthenes, son of Augeas. And those of Dulichium with the sacred Echinean islands, who dwelt beyond the sea off Elis; these were led by Meges, peer of Mars, and the son of valiant Phyleus, dear to Jove, who quarrelled with his father, and went to settle in Dulichium. With him there came forty ships. Ulysses led the brave Cephallenians, who held Ithaca, Neritum with its forests, Crocylea, rugged Aegilips, Samos and Zacynthus, with the mainland also that was over against the islands. These were led by Ulysses, peer of Jove in counsel, and with him there came twelve ships. Thoas, son of Andraemon, commanded the Aetolians, who dwelt in Pleuron, Olenus, Pylene, Chalcis by the sea, and rocky Calydon, for the great king Oeneus had now no sons living, and was himself dead, as was also golden-haired Meleager, who had been set over the Aetolians to be their king. And with Thoas there came forty ships. The famous spearsman Idomeneus led the Cretans, who held Cnossus, and the well-walled city of Gortys; Lyctus also, Miletus and Lycastus that lies upon the chalk; the populous towns of Phaestus and Rhytium, with the other peoples that dwelt in the hundred cities of Crete. All these were led by Idomeneus, and by Meriones, peer of murderous Mars. And with these there came eighty ships. Tlepolemus, son of Hercules, a man both brave and large of stature, brought nine ships of lordly warriors from Rhodes. These dwelt in Rhodes which is divided among the three cities of Lindus, Ielysus, and Cameirus, that lies upon the chalk. These were commanded by Tlepolemus, son of Hercules by Astyochea, whom he had carried off from Ephyra, on the river Selleis, after sacking many cities of valiant warriors. When Tlepolemus grew up, he killed his father's uncle Licymnius, who had been a famous warrior in his time, but was then grown old. On this he built himself a fleet, gathered a great following, and fled beyond the sea, for he was menaced by the other sons and grandsons of Hercules. After a voyage. during which he suffered great hardship, he came to Rhodes, where the people divided into three communities, according to their tribes, and were dearly loved by Jove, the lord, of gods and men; wherefore the son of Saturn showered down great riches upon them. And Nireus brought three ships from Syme- Nireus, who was the handsomest man that came up under Ilius of all the Danaans after the son of Peleus- but he was a man of no substance, and had but a small following. And those that held Nisyrus, Crapathus, and Casus, with Cos, the city of Eurypylus,

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Accounting Help!!!!!!!!!!? 1.Merchandise with a sales price of $800 is sold on account with term 2/10, n/30. The journal entry to record the sale would include a a.debit to Cash for $800 b.Debit to Sales Discounts for $16 c.Credit to Sales for $800 d.Debit to Accounts Receivable for $784 2.Using a perpetual inventory system, the entry to record the purchase of $30,000 of merchandise on account would include a a.debit to Sales b.debit to Merchandise Inventory c.credit to Merchandise Inventory d.credit to Sales 3.Anthony Company sold Madison Company merchandise on account FOB shipping point, 2/10, net 30, for $20,000. Anthony prepaid the $300 shipping charge. Which of the following entries does Anthony make to record this sale? a.Accounts Receivable-Madison, debit $20,000; Sales, credit $20,000 b.Accounts Receivable-Madison, debit $20,000; Sales, credit $20,000, and Accounts Receivable-Madison, debit $300; Cash, credit $300 c.Accounts Receivable-Madison, debit $20,500; Sales, credit $20,500 d.Accounts Receivable-Madison, debit $20,000; Sales, credit $20,000, and Freight Out, debit $300; Cash, credit $300

Accounting Help 10 points !? 1.Merchandise with a sales price of $800 is sold on account with term 2/10, n/30. The journal entry to record the sale would include a a.debit to Cash for $800 b.Debit to Sales Discounts for $16 c.Credit to Sales for $800 d.Debit to Accounts Receivable for $784 2.Using a perpetual inventory system, the entry to record the purchase of $30,000 of merchandise on account would include a a.debit to Sales b.debit to Merchandise Inventory c.credit to Merchandise Inventory d.credit to Sales 3.Anthony Company sold Madison Company merchandise on account FOB shipping point, 2/10, net 30, for $20,000. Anthony prepaid the $300 shipping charge. Which of the following entries does Anthony make to record this sale? a.Accounts Receivable-Madison, debit $20,000; Sales, credit $20,000 b.Accounts Receivable-Madison, debit $20,000; Sales, credit $20,000, and Accounts Receivable-Madison, debit $300; Cash, credit $300 c.Accounts Receivable-Madison, debit $20,500; Sales, credit $20,500 d.Accounts Receivable-Madison, debit $20,000; Sales, credit $20,000, and Freight Out, debit $300; Cash, credit $300