What is b Purchase Volume?

Q: What is freight in on purchases?

A: Purchases are the transaction where in the buyer purchases goods and services from a seller by…

Q: General entry purchase return

A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in…

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: What is the LIFO retail method?

A: Last-in-First-Out (LIFO): In this method, items purchased recently are sold first. So, the value of…

Q: What is shelf registration?

A: Answer: Shelf registration is subject to Securities and Exchange Commission SEC Rule 415 of the…

Q: the different types of purchasing procedures

A: A purchase process is a formal and systematic process of purchasing goods and service by an…

Q: purchase price

A: Purchase price = Net assets taken over - Required gain

Q: Describe about concept of the GOODS ON CONSIGNMENT?

A: Inventory:   Inventory refers to the raw materials, work-in process, and the finished goods…

Q: What is the difference between a sales discount and a purchases discount?

A: The term sales discount is used by the seller, and the term purchase discount is used by the…

Q: Explain purchase accounting

A: Purchase accounting means any premium paid by bidder in excess of the value of books of aims assets…

Q: Define Purchase discounts.

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

Q: Explain the accounting for sales with right of return.

A: Definition: Accounting for sales with a right of return: Accounting for sales with the right of…

Q: Define Net purchases.

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

Q: Best Model for Managing Inventory and explain?

A: Inventory control helps your business maintain the right amount of inventory while reducing costs.…

Q: What is intrinsic value or price?

A: Intrinsic value: Intrinsic value denotes to an investor's view of the intrinsic worth of an asset,…

Q: What is a merchandiser?

A: Merchandiser is a business that purchases goods  and resells to customers…

Q: Define purchases Journal.

A: Journal: Journal is the book of original entry. Journal consists of the day-to-day financial…

Q: Define Purchase return.

A: Financial accounting is the process of recording, summarizing, and reporting all the transactions in…

Q: Explain an example how to record sales revenue.

A: Sales revenue is the revenue from the sales generated by the company. The sales may be either cash…

Q: b. What was the invoice amount of the merchandise that was returned?

A: Net method -Under this method, the discount is deducted from the Sales Value and only net amount is…

Q: How is book value calculated, and what does it represent?

A: To compute book value as follows:

Q: How is inventory valuation made? Explain?

A: Stock or inventory are important yet inert resources lying with the organization at the end of an…

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: Define sales allowance.

A: Sales allowances: When a customer agrees to buy defective goods or improperly made then seller gives…

Q: What are the assumption of THE LIFO RETAIL METHOD?

A:

Q: What is purchase returns?

A:

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 a transaction price?

A: Transaction price: It is the price of a service or a good which is expressed relative to the similar…

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: 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: How do you find date goods are recieved

A: Goods Receipt Note (GRN) is a document which acknowledges that the goods have been received. A…

Q: What is book value?

A: Depreciation: Depreciation is a method of reducing the capitalized cost of long-lived operating…

Q: Define the term Purchase Volume?

A: INTRODUCTION Purchases  In accounting, the cost of making purchases during a time period with the…

Q: What is the difference between gross selling price and invoice price?

A: Invoices are the bill which display the total value of the product purchased. Be it gross selling…

Q: What is surcharge?

A: surcharge is an additional or extra charge or tax charged on the cost of goods or service more than…

Q: What's the difference between book value and carrying value?

A: The entity needs to determine the carrying amount and book value of assets for preparing its…

Q: What purpose does a purchasing department serve?

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

Q: What is a fee income

A: Fee Income There are different ways an organisation can make the sources of income like sales…

Q: what is the cost of sales?

A: Cost of sales are the cost incurred for producing the goods which is sold. The concept related to…

Q: gross profit

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

Q: Define purchase allowance

A: Following is the meaning of a purchase allowance

Q: How to calculate net sales revenue and net purchases

A: The income statement is one of the financial statements of the business which is prepared to know…