Which of the following are primarily merchandising businesses? Choose all answers that are correct. Ogrocery chain tech support dry cleaner hair salon Opharmacy bookstore
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- Explain some of the differences that make merchandising businesses and service businesses different from each other. The text below may help you. Use evidence from the text below to support your response. Read: A service business sells its services for a fee. A merchandising business is a business that purchases goods and sells them. If you are selling those goods to the general public for use or consumption, your business is a retail merchandising business. Many of the transactions of a service business and a merchandising business are the same. You pay cash for supplies and buy on account, just like in a service business. However, transactions like these occur more often and include different elements to account for. For example, there is a lot more purchasing of goods on account to have an inventory to sell. Also, an asset account for all those purchases is needed. A merchandising business may have a much higher volume of sales and may have to charge sales tax depending on city,…Please see below. The amounts can be made up but please make sure that they make sense for a merchandising company. Need asap please.Merchandising businesses differ from service businesses. Explain some of the differences that make the businesses different from each other. Use evidence from the text below to support your response. For example, -In the text, it says," ___________________." Read: A service business sells its services for a fee. A merchandising business is a business that purchases goods and sells them. If you are selling those goods to the general public for use or consumption, your business is a retail merchandising business. Many of the transactions of a service business and a merchandising business are the same. You pay cash for supplies and buy on account, just like in a service business. However, transactions like these occur more often and include different elements to account for. For example, there is a lot more purchasing of goods on account to have an inventory to sell. Also, an asset account for all those purchases is needed. A merchandising business may have a much higher volume of…
- Assume you are considering opening a retail business. You are trying to decide whether to have a traditional brick-and-mortar store or to sell only online. Explain how the activities and costs differ between these two retail arrangements.Computing cost of goods sold, merchandising company Use the following information for The Windshield Helper, a retail merchandiser of auto windshields, to compute the cost of goods sold:Which of the following retailers would be the best fit for the Jackery product? (Highlight one answer) Amazon Walmart Cabela’s REI Explain your answer
- You are a merchandising company. Please make a random list of accounts with their balances that you might find on your Multi-step Income Statement. Note that the company can be made up but it must be a merchandising company and the information should make sense.Please create an example of an Income Statement for a merchandising business.What is the distinctionbetween retail and wholesale merchandising companies?
- Saurez Company, your client, manufactures paint. The company’s president, Maria Saurez, has decided to open a retail store to sell Saurez paint as well as wallpaper and other supplies that would be purchased from other suppliers. She has asked you for information about the conventional retail method of pricing inventories at the retail store. Instructions Prepare a report to the president explaining the retail method of pricing inventories. Your report should include the following points. a. Description and accounting features of the method. b. The conditions that may distort the results under the method. c. A comparison of the advantages of using the retail method with those of using cost methods of inventory pricing. d. The accounting theory underlying the treatment of net markdowns and net markups under the method.Apply the economic attributes framework discussed in the chapter to the specialty retailing apparel industry, which includes such firms as Gap,Limited Brands, and Abercrombie & Fitch. (Hint: Access Gale’s Business & Company Resource Center, Global Business Browser, or Standard & Poor’s Industry Surveys to obtain the needed information.)What are the Source documents used in a merchandising business?
