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Alex777 [14]
1 year ago
11

there are external vendors that stock and maintain magazine departments of the kmart retail establishment. they don't posess the

product. therefore they can be classified as which type of wholesaler?
Business
1 answer:
Fed [463]1 year ago
4 0

A wholesaler that offers a smaller selection of services than some other wholesalers, but tries to make up for it by charging less.

<h3>Explain about the Limited service wholesalers?</h3>

Wholesalers do not sell directly to the general public instead, they purchase goods from manufacturers and other wholesalers and then resell them to other wholesalers and retailers. When full service wholesalers may not work with small business owners, limited function wholesalers often provide them specific services.

There are two basic types of merchant wholesalers: service (also referred to as full-service wholesalers) and limited-function or limited-service wholesalers. The latter group, which is further subdivided into smaller niches, provides varying levels of service in areas like product delivery, credit, and marketing.

Cash and carry wholesalers are an example of a limited service wholesaler who neither sells items on credit to clients nor provides transport facilities. Limited service wholesalers can also be categorized as truck wholesalers, rack jobbers, drop shippers, mail-order wholesalers, etc.

To learn more about Limited service wholesalers refer to:

brainly.com/question/15691605

#SPJ4

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On June 1, 2022, Elite Service Co. was started with an initial investment in the company of $22,100 cash. Here are the assets, l
Helen [10]

Question Completion:

Cash                         $ 4,600

Accounts receivable   4,000

Supplies                      2,400  

Equipment               26,000

Total assets          $37,000

Notes payable       $12,000

Accounts payable        500

Service revenue       7,500

Supplies expense    1,000  

Maintenance and repairs expense  600

Advertising expense  400  

Utilities expense  300

Salaries and wages expense  1,400

Common stock  22,100

In June, the company issues no additional stock but paid dividends of $1,400.

Prepare an income statement, retained earnings statement, and balance sheet.

Check figures:

·         Net income is $3,800.

·         Total assets are $37,000.

·         Total liabilities are $12,500.

Answer:

Elite Service Co.

a) Income Statement for the month of June 30, 2022:

Service revenue                                         $7,500

Supplies expense                           $1,000  

Maintenance and repairs expense    600

Advertising expense                          400  

Utilities expense                                300

Salaries and wages expense         1,400   3,700

Net Income                                              $3,800

b) Retained Earnings Statement for the month of June 30, 2022:

Net Income                     $3,800

Dividends paid                  1,400

Retained Earnings         $2,400

c) Balance Sheet as of June 30, 2022:

Cash                                   $ 4,600

Accounts receivable             4,000

Supplies                                2,400  

Equipment                         26,000

Total assets                    $37,000

Notes payable                 $12,000

Accounts payable                  500

Total liabilities                $12,500

Common stock                 22,100

Retained Earnings          $2,400

Total liabilities + Equity $37,000

Explanation:

Data and Calculations:

Cash                         $ 4,600

Accounts receivable   4,000

Supplies                      2,400  

Equipment               26,000

Total assets          $37,000

Notes payable       $12,000

Accounts payable        500

Common stock       22,100

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3 years ago
On June 18, Wyman Company (a U.S. Company) sold merchandise to the Nielsen Company of Denmark for €60,000 (Euros), with a paymen
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Answer:

Wyman company should recognize a foreign exchange loss in the amount of $12,600

Explanation:

On the date of sale: £1 = $1.35

So £60,000 = 60,000 × $1.35 = $81000

On the date of payment: £1 = $1.14

So £60,000 = 60,000 × $1.14 = $68, 400

The amount Wyman company received on the date of payment is $12,600 less than the amount it ought to have received on the date of sale.

So Wyman company should recognize a foreign exchange loss in the amount of $12,600

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