How do you find date goods are recieved

Q: Distinguish between FOB shipping point and FOB destination. Identify the freight terms that will…

A: The invoice is made by seller based on different terms including discount, and other terms as FOB…

Q: Which one of the following types of discounts is given to the buyer if the buyer makes a bulk…

A: The answer for the question on discounts is given hereunder :

Q: Based on the above information, what are the number of units available for sale? and how much is the…

A: Please see Step 2 for the required information.

Q: Distinguish between FOB shipping point and FOB destination. Identify the freight terms that will…

A: A shipment term which indicates the obligation of either buyer or seller with regard to the goods…

Q: A. What document is used to create the Purchase Order in the Expenditure Cycle and wheredoes it come…

A: Answer a: The purchase requisition document is used to create the Purchase Order. It comes from the…

Q: How is the cost of goods sold calculated?

A: Cost of goods sold: Cost of goods sold is the total of all the expenses incurred by a company to…

Q: Compute(a)the cost of goods purchased and (b) the cost of goods sold

A: Cost of Goods Purchased is the net cost of merchandise acquired. It is that situation when business…

Q: How should a non vat seller treat input vat paid on the purchases from vat supplier of inventories…

A: The major purpose of adopting VAT is to reduce the effects of multiple taxes and the cascading…

Q: How do you find the ending inventory?

A: Many companies earn revenue by selling inventory rather than a service. These companies are…

Q: Sales to Y Sales to others Cost of goods sold

A: A consolidated financial statement is inclusive of all the subsidiary companies where the owner has…

Q: What is Cost of Goods Sold (COGS) and how is it calculated? What is Gross Profit and how is it…

A: The income statement is prepared to record the revenues and expenses of the current period.

Q: types of discounts is given to the buyer if the buyer makes a bulk purchase ?

A: The amount that is a fixed rate and deductable from the invoice price is known to be discount. This…

Q: Describe FOB shipping point and FOB destination. When does the buyer take ownership of the goods,…

A: Transportation Costs: The costs of delivering the merchandise inventory from the manufacturer to the…

Q: Seller is notified of goods returned by the buyer when he receives a

A: Accounting:   Accounting is a system, or a process of collecting and organizing economic…

Q: What is a merchandiser, and what is the name of the merchandise that it sells?

A: Merchandiser: A merchandiser is a business that sells goods, or merchandise, to its customers.

Q: How do I solve for the Cost Of Goods Sold?

A: Cost of goods sold is actual cost of goods that are being sold by the seller to the customers. This…

Q: amount should be reported as cost of goods sold?

A: The inventory should be valued at the lower of cost or net realizable value. The value of inventory…

Q: Define Purchase discounts.

A: Purchase discounts: The sellers offer a reduction in purchase price on initial purchases, to…

Q: What is recording transactions in Merchandising concern?

A: Merchandise refers to the those transaction which are concerned with stock, purchase transactions,…

Q: of the goods til normally sold goods also pas ney, Gyampat

A: 1 PROVISION TO BE CREATED IN FINANCIAL STATEMENTS OF GYMPAT ENTERPRISES

Q: Differentiate between a purchase requisition and a purchase order.

A: Difference between purchase requisition and purchase order The difference between the purchase…

Q: Who is the owner of goods on consignment? (Please give full explanation and please avoid…

A: In the consignment basis goods are sent by the consignor to the consignee to sell the goods and in…

Q: What is a purchase return? How does a purchase allowance differ from a purchase return?

A: Purchase return: Purchase return refers to return of merchandise or goods purchased by customers to…

Q: How would you find the invoice amount of merchandise that was returned in

A: When the merchandise is returned, The invoice amount of return will be credited to the customer's…

Q: What is the cost of goods sold?

A: Retail inventory method refers to an accounting method which is used by the companies to compute the…

Q: Design a purchase requisition, purchase order and purchase specification

A: Here provide the details of the Purchase requisition, purchase order and purchase specification…

Q: What is the answer to the Cost of goods sold?

A: Cost of goods sold means the difference between the sale and gross profit . It means the cost of…

Q: What is the other name of purchases returns

A: Whenever inventory is being purchased in business for sale or for use in production and…

Q: What is b Purchase Volume?

A: Purchase volume means the total amount of all the purchases charged to a single account.

Q: he entry to recognize the distribution of welfare goods to intended recipients would include a debit…

A: Inventory means the stock of goods in hand . Goods means the thing in which the business deals and…

Q: Goods returned by customer will be debited to which account?

A: When a customer returns the goods sold to him it is called sales return i.e. it reduces the income…

Q: Summarize on what you understand from the purchase cycle system

A: Purchase Cycle System- Purchasing Cycle system refers to as system of buying product and service.

Q: Summarize the process to determine whether you can afford a particular purchase

A: The process is a defined way that helps individuals to analyze the particular item for taking the…

Q: FOB SHIPPING POINT, who is the owner of goods in transit

A: The invoice made at the time of sale includes the invoice price, payment terms, discount terms, etc.…

Q: What is cost of goods sold? Explain?

A: Cost of goods sold is the accumulated total amount of all the direct costs incurred in manufacturing…

Q: How do you calculate costs of goods sold?

A:

Q: It is used to who is responsible for paying shipping and when the title of the goods passes from…

A: The goods and services are usually exchanged between two parties. One is seller and the other is…

Q: What purpose does a purchasing department serve?

A: Purchasing Department: The purchasing department accommodates the organization for the inventory…

Q: What is cost of goods sold and what does it consist of?

A: Cost of goods sold means the cost incurred on the manufacturing or purchase of goods which has been…

Q: Define Cost of goods sold at normal and Cost of goods sold at actual.

A: Following is the answer to given question

Q: gross profit

A: We  can find cost of Good sold  by preparing Trading Account Also we can find Gross profit of the…

Q: When goods are received, the receiving clerk should match the good with_____?          A. The…

A: Under generally accepted accounting principles, Double entry accounting system has to be followed…

Q: Please check if my statement of the cost of goods manufactured and sold in good form is correct.…

A: Cost of goods manufactured shows total costs incurred on manufacturing and production of goods. It…

Q: What happens when a client (buyer) returns credit-purchased goods?

A: The Answer: