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Determine the Purchasing Procedures
Alarge company would use a "purchasing agent" who heads purchasing department. Small companies would use manager/owner, etc.
Seller receives order and sends an invoice (document which shows the name of buyer and seller, terms of sale, date, description, delivery, price, and total owed) sales and purchase invoice and merchandise.
When merchandise is received, it's checked against purchase order.
Q. Example of retail inventory method? In Exhibit we display the retail inventory method. In the exhibit the costs (USD 22000) as well as retail (USD 40000) amounts for beginni
Pattillo Industries makes a product that sells for $25 a unit. The product has a $5 per unit variable cost and total fixed costs of $9,000. At budgeted sales of 1,000 units, the
Illustrate the structure of brain Brain is capable of changing its structure in numerous ways. Synapses become stronger and denser. Tiny blood vessels increase in size and numb
What is the accounting equation?
office supplies on hand at year-end amounted to 3000.
Explain the term- CASH SHORT AND OVER This account is used to record both a shortage and overage of cash in cash drawer. When change is made during a business day, mistakes can
Determine the symbols of Net Sales for the Period - Cost of Goods Sold = Gross Profit - Operating Expenses + Other Income - Other Expenses =
Q. Purpose of adjusting entries? In this section we exemplify each of the four types of adjusting entries asset/expense liability/revenue, asset/revenue and liability/expense.
Q. Define the Product costs? Product costs are costs earns in the acquisition or manufacture of goods. Since you will see in the next section included as product costs for purc
introduction,features,objectives,types of branches,difference between branches and departments
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