The following data would be considered important to know about a retailer's customer EXCEPT? O a. Gender. O b. Eye color. O C. Age. d. Marital status.

Q: Describe the factors that a retailer should take into account while selecting a location for a…

A: The location of the shopping area is a strategic choice for any enterprise. As it affects the…

Q: What is the posting procedure for the sales journal?

A: Sales journal is used to record the entries related to only credit sales includes goods and services…

Q: On a journal entry with a debit to Cost of Goods Sold you would expect a credit to…

A: In the Double Entry System, its must that Every Debit will have the Credit and its also necessary…

Q: If a company uses a multi-column purchases journal, which of the following possibleheadings for…

A: Solution Concept Multi column purchase journal is a journal used to record the credit purchase…

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: Drawing, explain how a purchase transaction on account impacts the buyer and the seller and also…

A: Purchase transaction means when one party purchases goods from another party. This transaction can…

Q: Which of the following would not be considered an internal user of accounting data for the LMN…

A: Internal user means the person with in the company who use the financial information or accounting…

Q: From the following examples, select which one is a transaction. a. a seller receiving payment from a…

A: Introduction : In simple words, transaction refers to a commercial activity in which two independent…

Q: hree debit and credit Rules for Merchandising Accounts

A: The Golden Rules of Accounting   Debit The Receiver, Credit The Giver   This principle is used in…

Q: Which document helps to ensure that the receiving clerks actually count the number of goods…

A: Option b is the answer

Q: Which of the following is not a user of internal accountinginformation?a. Store manager.b. Chief…

A: Accounting information: It can be defined as all the data or information that relates to the…

Q: What may be the likely response as more shoppers learn that retailers gather information without…

A: Definition: Retailer: A retailer is a person or business that sells goods to different customers in…

Q: elect all that apply Determine which of the following statements below regarding a merchandiser are…

A: Solution Concept Merchandiser are the person who basically buys a merchandise and sells the…

Q: What is recording transactions in Merchandising concern?

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

Q: Explain in detail different types of documentation that the business would expect to change hands in…

A: a) Different types of documentation that the business would expect to change hands in the purchase,…

Q: Demonstrate, using practical example how to prepare accounts from the Sales day book and Sales…

A: The sales day book is a manually-maintained ledger in which is recorded the key detailed information…

Q: The functions of and documents generated by which of the below departments determine when a…

A: Lets understand the basics. In organization, there are various department which are inter connected…

Q: What is the business name of the vendor (seller)? How do you know this? (using the image)

A: Here in this question, we are required to answer the name of seller. Seller is the person who sells…

Q: From the following list, identify those that are likely to serve as source documents.  Trial…

A: A source document refers to the original document that includes all the information of the business…

Q: 1. How would this transaction be journalized by the seller? Identify the accounts, the amounts and…

A: Journal means the book of prime entry where all entries are recorded in different pages. Ledger…

Q: The entry to record the return of merchandise from a customer would include a  debit to Sales…

A: Sale return means when goods sold to customer returned back because of any reson. When we sold goods…

Q: Choose the correct. Which of the following information items with regard to a major customer must be…

A: Answer:   Option c.

Q: separate account for sales returns and allowances useful to management? If you owned a…

A:

Q: hich of the following accounts is a contra account?   Select one: a. Drawing b. Transportation In c.…

A: Solution: A contra account is related to a main account and used in a general ledger to reduce the…

Q: Identify and discuss three differences between accounting for service businesses and accounting for…

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

Q: What journal entry is required to record goods taken from inventory by the owner of a business for…

A: We have the following question: What journal entry is required to record goods taken from inventory…

Q: A retailer pays for purchased merchandise within the discount window. The retailer would recognize…

A: Accounts Payable - Accounts Payable is the creditor for the company. Company owed some amount for…

Q: For each of the following processes, state whether OLTP or OLAP is appropriate, and why. a. An…

A:

Q: You are working for a company and process a credit memo. This indicates that: merchandise was…

A: A credit memo is issued by a seller to the buyer indicating that amount due from the buyer has been…

Q: A bill or a statement issued by the seller to the buyer giving details of goods sold. a. chart of…

A: The seller issues a bill containing all the details about the sales to the buyer.

Q: Which of the following businesses would most likely not report cost of goods sold on their income…

A: Cost of goods sold refers to that direct costs of the inventory the company incurred to produce the…

Q: f merchandise sold on account is returned to the seller, the seller may inform the customer of the…

A: Answer -  Correct Answer is - Credit memorandum, Because, A credit note or credit memorandum is a…

Q: If merchandise sold on account is returned to the seller the seller may inform the customer of the…

A: Concept introduction:   An organization can be manufacturing, servicing of merchandising type. For a…

Q: Describe the data flow in the buying process that begins when the purchasing organization sends a…

A: The Answer:

Q: the following w

A: the correct answer is  d. SALES INVOICES

Q: Which of the following information items with regard to a major customer must be disclosed?a. The…

A:

Q: Give the journal entry for the following service/merchandising business transactions without the…

A: Journal entries refer to recording and classifying the business transaction into books of accounts…

Q: how would you check the information provided by an applicant for credit at a department store? by a…

A: WHAT  IS CREDIT ? Labor and products can be paid for forthright or on conveyance, or are provided…

Q: Describe the flow of data in the purchasing process that is initiated when the purchasing…

A: A data flow diagram is a flow of data that analyzes the beginning criteria and end results of a…

Q: If you are a jewelry store, what inventory system is applicable to you? How about for a hardware…

A: Perpetual is the inventory system that would most likely be used by a jewelry store. In 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 create an example of an Income Statement for a merchandising business.

A: SOLUTION- EXAMPLES OF AN INCOME STATEMENT FOR MERCHANDISE BUSINESS- 1-A MERCHANDISE PURCHASES GOODS…

Q: Which of the following information items with regard to a major customer must be disclosed? a. The…

A: According to the disclosures requirements , if a company is making sales to major customer , then…

Q: If a customer pays with a credit card and the service has been provided, which of the following…

A: Credit card is like a physical card which are used as a postpaid, in which customer or card holder…

Q: Sydney Retailing (buyer) and Troy Wholesalers (seller) enter into the following transactions.

A: A Journal entry is a primary entry that records the financial transactions initially. The…

Loanable Funds Theory

The loanable funds theory is a neoclassical theory that determines the interest rate where the demand for loanable investments and supply of loanable funds intersect. To determine the interest rate, this theory employs linear regression and a demand curve. At the equilibrium point, demand for borrowings and demand for the issuance of borrowing funds are inextricably linked. This point of equilibrium should equalize demand and the supply of money available for borrowing.