Answer:
Merchandise purchases budget explanations only.
Explanation:
Hi, your question has missing information, however i have supplied explanations below.
A purchases budget is required to determine the quantities of purchases required for :
- Resale - For Merchandisers
- Use in Production in case of Manufacturer
Here is the structure of the merchandise purchases budget for Walker Company (Merchandiser).
<u>Merchandise purchases budget </u>
Month
Budgeted Sales x
Add Budgeted Inventory x
Total Purchases needed x
Less Budgeted Opening Inventory (x)
Budgeted Purchases x
As stated by the question : <em>Company policy is to end each month with merchandise inventory equal to a specified percent of budgeted sales for the following month.</em>
<em>Ending Inventory = Next months` sales x required percentage</em>
Ending Inventory for one month say July becomes Opening Inventory for the following month (August) for our merchandise purchases budget.
Do you have a question about it?
Answer:
It is a relatively new, undeveloped form of communication in the workplace, and attitudes toward it vary.
Explanation:
Picture relating to the question is attached below :
Answer:
Esmerelda did not use the recipro al of the Divisor.
Esmerelda added the numerator
Esmerelda added the denominator
Explanation:
Esmerelda's work:
-5 1/4 ÷ 3/2= -21/4 ÷3/2 = (-21/4)(3/2) = -24/6 = - 4
Esmerelda's errors:
When changing the quotient sign to multiplication ; the reciprocal of the denominator should be used to divide the numerator :
Hence,
-21/4 ÷3/2 = (-21/4)(3/2) (wrong expression)
-21/4 ÷3/2 = (-21/4)(2/3) (correct expression)
Also,
(-21/4)(3/2) = -24/6 ( wrong simplification)
The bracket symbol indicates multiplication. Hence, the values should be multiplied. The two Numerator values and the two denominator values.
Answer:
All of the choices are correct.
Explanation:
GAAP is an acronym for Generally Accepted Accounting Principles, it comprises of the accounting standard, procedures and principles used by public institutions in the United States of America. The U.S GAAP is issued by the Financial Accounting Standards Board (FASB) and adopted by the U.S. Securities and Exchange Commission (SEC).
GAAP includes each of the following pronouncements:
Statements of Financial Accounting Standards, Accounting Research Bulletins, Accounting Principles Board Opinions.
For external reporting purposes, United States of America, Generally Accepted Accounting Principles (GAAP) allows companies to use only the traditional format of the income statement.
United States of America, Generally Accepted Accounting Principles (GAAP) is the accounting principles, procedures and standard issued by the Financial Accounting Standards Board (FASB) and adopted by the United States of America, Securities and Exchange Commission (SEC).
When accountants prepare and compile financial statements for public firms, it must be in line with United States of America, Generally Accepted Accounting Principles (GAAP).
