What is the differences between financial statements of a manufacturing and a merchandising business?

Q: Manufacturing Accounting is different from Financial Accounting...what is the  nature and purpose of…

A: Departmental accounting is system of bookkeeping where the transactions of all the departments…

Q: What distinguishes a retail business with the services business?

A: Retail business and Service business are two types of business, in which one provides goods for use…

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: Discuss the difference in the operating cycle of merchandising and the service business

A: The operating cycle of merchandising and the service business will be explained :

Q: Describe how the inventory accounts of a manufacturing company differ from the inventoryaccount of a…

A: The manufacturing company maintains three inventory accounts; these are raw material inventory…

Q: Write a research on the Income Statement of a Merchandising Company.

A: Merchandising Company In a simple word the word Merchandising which describes as buy the goods and…

Q: "Do the steps in the accounting cycle for a merchandising company differs from the steps in the…

A: Accounting cycle is a process to identify, analyse and record the monetary transactions of a firm.…

Q: How is accounting for service businesses different than accounting for merchandising businesses?

A: Services business: A business that provide services to its customers is called service business.…

Q: An accounting firm would be classified as a manufacturing company. merchandising company. simple…

A: An accounting firm is formed to provide different services like providing help in preparing books of…

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

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

Q: ial rep

A: Financial Reporting Servicing Whether it's production or service, there are various divisions that…

Q: I. The Cost of Goods Sold of a Merchandising company will include cost of Materials, Labor and…

A: Merchandising company is a company which is engaged in purchase and sale of readymade products. They…

Q: Companies that buy and sell goods are called: O a. merchandising businesses. O b. service providers.…

A: Inventory: It can be defined as all the goods, items, materials, and merchandise that are held by a…

Q: What is the difference between a financial accounting information system and a cost management…

A: Financial accounting and Cost accounting are two different systems in accounting, which are used for…

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: Describe merchandising activities and identify income components for a merchandising company

A: merchandising activities Merchandising activities involve buying goods or products from the…

Q: Represent (In Figure form) the Income Statement of Service and merchandising sector company.

A: Income statement is described as a financial statement which consists of the revenues and expenses…

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: 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: 3. The subtotal, "Cost of goods manufactured" appears on a merchandising company's income statement.…

A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…

Q: Explain the differences in managerial and financial accounting for a clothing retailer.  Please…

A: The management accounting is generally created for a firm's internal audience, whereas financial…

Q: Two categories of expenses for merchandising companies are

A: Option d

Q: How does reporting information for a merchandising company differ from financial reporting for a…

A: Merchandising Company:   A merchandising company is a type of company that engages in the purchase…

Q: Which of the following is the primary source of revenue for a manufacturing business?

A: the production of products from raw materials

Q: How do an income statement and a balance sheet for a manufacturing company and a merchandising…

A: Manufacturing company: Manufacturing companies produce their own goods and sell it to the…

Q: How does the company compare with other companies in the industry?

A: Ratio analysis: The analysis of a company using the financial ratios and comparing its trends and…

Q: Explain Operating Cycle of a Typical Merchandising or Manufacturing Company.

A: Operating cycle: The operating cycle is the period of time which is required to meet the initial…

Q: Which income statement is most appropriate for a manufacturing business

A: >Income Statement can be prepared as a:--#1: Single Step Income Statement, or--#2: Multi Step…

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: Why Gross sales is important in a Company?

A: Gross sales: Gross sales is a metric for the total sales of the company, that are unadjusted for the…

Q: the specific parts of a business plan will vary, depending on the goods or services the firm is…

A: A business plan is a document in writing that elaborates how a start-up company derives its…

Q: Differentiate between selling price,cost of sales and labour costs in informal and formal business.

A: Registered (or unregistered), organized (or unorganized), and supervised (or unregulated) companies…

Q: Define Operating cycle of Merchandising Company,

A: “Hey, since there are multiple questions posted, we will answer first question. If you want any…

Q: Describe the operating cycle of a merchandising company.

A: An operating cycle can be defined as the process of obtaining merchandise inventory, selling the…

Q: nce sheet for a manufacturing company and a merchandising company differ?

A: At first it appears that there is no difference between the income statements of the merchandising…

Q: Understand the components of a merchandising company’s income statement.

A: Preparations of income statements help the merchandise company to know how much gross profit or net…