User Account

All Pages

Is a credit transaction and explain why

Assignment Help Financial Accounting
Reference no: EM132764266

Problem 1: On January 10, 2020, customer Tanya took Php 5,000 worth of groceries to the cashier's counter and paid with a post-dated check, dated February 15, 2020, with the approval of the store manager. Is this a credit transaction? Explain.

Problem 2: On December 15, 2020, Liza King took Php 30,000 worth of garments and at the counter paid with a check dated January 5, 2021, which was approved and accepted. Is there a credit transaction here? Explain.

Reference no: EM132764266

Questions Cloud

Explain where is credit transaction and who are parties to : As payment, Nelly told the electrician to go to her department store and get 7,500 worth of groceries and clothings. Is there a credit transaction here?
Determine how much the fra is worth and who pays : Determine how much the FRA is worth and who pays who - the buyer pays the seller or the seller pays the buyer?
Determine the direct labor rate variance : Actual: 3,790 hrs. at $13.8. Determine the direct labor rate variance, direct labor time variance, and total direct labor cost variance
Protect purchasers of goods and services : Consumer laws were established to protect purchasers of goods and services.
Is a credit transaction and explain why : On January 10, 2020, customer Tanya took Php 5,000 worth of groceries to the cashier's counter. Is this a credit transaction? Explain.
How much interest would you be paying in year four : The terms require you to amortize the loan with 7 equal end-of-year payments. How much interest would you be paying in Year 4
Current or future career : Develop your company's mission statement. Enclose your mission statement within quotation marks.
Calculate net cash provided or used by investing activities : Calculate the net cash provided or used by investing activities. Equipment with a book value of $125,000 and an original cost of $220,000 was sold at a gain
What is the value of the company : Tool Manufacturing has an expected EBIT of $83,000 in perpetuity and a tax rate of 25 percent. What is the value of the company

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd