Subsidiary ledgers in merchandising business?

Q: stinguish between a Merchandisers Income Statement and a Manufacturing Companies In

A: An income statement is a component  financial statement that shows you the company's income and…

Q: When does an accounting information system becomes useful?  What is the relevance of having…

A: 1.When does an accounting information system becomes useful? 2. What is the relevance of having…

Q: What is the differences between financial statements of a manufacturing and a merchandising…

A: Financial statements: Financial statements are condensed summary of transactions communicated in the…

Q: What are the Source documents used in a merchandising business?

A: Merchandising business is the one in which the entity deals in with goods / products.

Q: What are some tactical and strategic retail customer considerations?

A: Strategic management or business management is the science, art, and craft of preparing,…

Q: What is a global network of organizations and activities that supply a firm with goods and services?…

A: To supply a firm with all the goods and services, a global network is being setup which includes…

Q: State the standard method of determining the cost of goods sold by a retailing or a wholesaling…

A: The cost of goods sold includes the total cost of goods sold include the cost of goods that are sold…

Q: 1. Identify any two examples of Wholesale Merchandise Business and Retail Merchandise Business

A: Introduction:- A merchandising business, often known as merchandisers, is one of the most common…

Q: why service industry providing service and retail industry dealing in transfer and exchange goods?

A: Service Industry:-As the name suggests, it is the industry which deals in services only, although it…

Q: What effects on a retail store's accounting equation occur when merchandise returned by customers is…

A: Introduction:- The following Accounting Equation used for preparation of balance sheet as follows…

Q: What is a buy and sell business?

A: The Solution is given in the next step

Q: Which document triggers the update of the inventory subsidiary ledger? a. bill of lading b. stock…

A: Update the inventory ledger Stock release triggers the update of the subsidiary ledger. The stock…

Q: What is recording transactions in Merchandising concern?

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

Q: Distinguish between manufacturing-, merchandising-, and service-sector companies?

A: Manufacturing companies are the  ones which procure raw materials and carry out manufacturing…

Q: What document initiates the sales process?

A:

Q: What inventory systems do you know are used in a buying and selling business?

A: The inventory systems popularly used are the  1) Perpetual inventory system  2) Periodic inventory…

Q: Define and explain subsidiary ledgers in merchandising business?

A: Subsidiary ledgers are the ledgers that contain information about specific control accounts in…

Q: Why is inventory management especially important for amultinational firm?

A: Inventory Management is significant for Multinational firms. Inventory is generally in the raw…

Q: O and LIFO inventory management?

A: The method an organization uses to assess their inventory prices can have an effect on their…

Q: Describe how manufacturing, merchandising and service-sector companies differ from one another?

A: Manufacturing Companies: Merchandiser is a person or organization who buys goods with the purpose of…

Q: In value chain analysis, what is the activity of arranging the delivery of products to customers…

A: Value chain analysis is an analysis that is done in business in order to evaluate value added…

Q: What distinguishes a merchandising business from a service business?

A: Merchandising Company and Service Company: A merchandising company generates income by selling goods…

Q: What term describes all business processes associated with providing a product or service? O The…

A: A product is a tangible item that can be sold to the customers.  Service is an intangible item which…

Q: Explain how to journalize sales transactions.

A: Journal Entry:   It is a systematic record of a financial transaction of an organization recorded in…

Q: Provide one example of a transaction that affect  service business and  merchandise business.

A: Business refers to all those organization or company who engaged in any type of industrial,…

Q: Individual customer accounts are kept in a ledger O purchase ledger O sales ledger O general ledger…

A: Solution: Individual customer accounts are kept in a ledger called a "Subsidiary ledger".

Q: procedure will complete the purchase procedure in a company?

A: Option a is wrong because approving suppliers invoice is usually done at the beginning stage of…

Q: Why should a business engaged in merchandising always try to negotiate with its vendors, the…

A: Inventory is the detailed list of items that are present on hand. It constitute of all the finished…

Q: Identify the correct statement with respect to manufacturing and merchandising companies in general…

A: A merchandising firm is one of the most common types of business. A sales firm is a business that…

Q: What inventory accounts are used by a manufacturer? In what financial statement will appear?

A: An inventory account or merchandise inventory account is an account to record the inventory…

Q: What is an inventory manager?

A: Inventory Management: It refers to the process of managing the Inventory or stock of raw materials,…

Q: Goods or products a company owns and expects to sell to its customers A) Sales B Merchandise…

A: Answer -  Merchandise Inventory -  Merchandise inventory means the value of goods in stock, it can…

Q: What is purpose of sales journals?

A: Sales journal: It is one form of special journal book, which records all the sales transactions that…

Q: What items appear in financial statements of merchandising companies but not in the statements of…

A: Definition: Merchandising businesses: Merchandising companies that buy goods from suppliers, or…

Q: Explain Retail Terminology with example.

A: Retail terminology: Retail terminology refers to the jargon or technical terms specifically used in…

Q: What are the differences between accounting for service companies and accounting for merchandise…

A: The Answer :

Q: The records of Acme Corporation, domestic, orgval engaged in retail, how the

A: In Phillipines the CIT is 30% for domestic corporations .  But…

Q: Besides inventories, what other assets often appear on manufacturers’ balance sheets but not on…

A: Nature of assets of both the companies differs with each other as Manufacturing Companies deals with…

Q: What is the difference in the operating cycle of a service provider and a merchandiser?

A: Operating cycle is defined as the amount of time the company requires to use its cash in order to…

Q: Explain the difference between external transactions and internal transactions. If a company…

A: Difference between external events, and internal events:  • External events are the events which…

Q: what kinds of issues or considerations would you address in the part of the business plan that deals…

A: Business plans are the written documents prepared by the management of a corporation that describes…

Q: Describe the operating cycle of a merchandiser.

A:

Q: is the delivery of products or services to customers. O a. Distribution O b. Customer service O c.…

A: Lets understand all the terms mention in the question to determine right answer. There are various…

Q: Describe a merchandising company, and give an example.

A: Merchandising firms, also called merchandising companies, are more commonly known as retail…