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Q. What is FOB destination?
FOB destination signifies free on board at destination. The seller ships the goods to their destination with no charge to the buyer. Therefore the seller is ultimately responsible for paying the freight charges.
Why is it more difficult to account for the inventory of a manufacturing firm than for that of a merchandising firm?
A view organizes diagrams into logical groups to explain a particular aspect of the system. It is the abstraction of the system prepared is such a way as to give a perspective of a
Q. Example of physical inventory? Taking a physical inventory may perhaps disrupt the normal operations of a business. Therefore the count should be administered as quickly and
Q. Explain journal entry? A journal is a sequential arranged in order of time record of business transactions. A journal entry is the stacking of a business transaction in the
The t/p bill for this month was 200,the company will pay it next month what is the journal entry for this?
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
Q. What do you mean by note? A note is an unqualified written promise to pay another party the amount owed either when demanded or at a certain specified date habitually with i
Exercise 5-2 - Harwick company. 1) On April 5, purchased merchandise from Botham Company for $23,000, terms 2/10, net/30, FOB shipping point. 2)On April 6, paid freight costs of $
Determining the physical quantity that should be contained in inventory normally is a simple matter because that amount have of items in the possession of the company. The cost of
Part 1: Students should consult with appropriate personnel in order to undertake an assessment of the client’s financial needs. Students must undertake an interview / consultation
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