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Colt1911 [192]
3 years ago
14

Gerald’s manufacturing firm sold goods worth $6,000 to some customers on credit in the month of January. His customers plan to p

ay him the entire amount at once in March. Gerald plans to record and recognize this income in the business’s accounts in March. Which accounting method does Gerald’s business follow?
His business follows the _______method of accounting.
Business
1 answer:
GREYUIT [131]3 years ago
3 0

Answer:

The cash accounting systems

Explanation:

The cash accounting systems recognize incomes and expenses when paid is received, or when payments are made. Revenue is recorded when customers make payments against an invoice, and expenses recorded when the business pays its payable. The cash accounting system is also called cash basis accounting.

The cash basis accounting system is mostly used by small business organizations.  Gerald's manufacturing firm uses the cash accounting system because transactions are recorded when money goes in or out of business. The cash basis is not recommended for large business organizations.

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A(n) ________ is designed to build customer goodwill, collect customer feedback, and supplement other sales channels rather than
Ket [755]

Answer: a corporate website

Explanation: A corporate website is one that is designed to build customer goodwill, collect customer feedback, and supplement other sales channels rather than sell the company's products directly.  It is also known as a brand website. However, a marketing website will engage consumers in interactions that will move them closer to a direct purchase or some other marketing outcome .

8 0
3 years ago
The supplies account had a beginning balance of $1,693. Supplies purchased during the period totaled $4,413. At the end of the p
olga55 [171]

Answer:

Debit Supplies expense $5,661

Credit Supplies account $5,661

Explanation:

At the time of purchasing supplies, the entries includes a debit to supplies accounts, and a credit to cash or accounts payable which is dependent on whether the cash purchased was done via cash or an account

For supplies used, debit supplies expense and credit supplies account. The movement in supplies account over a period is due to purchases and its expressed as;

Opening balance + Purchases - Supplies used = closing balance

$1,693 + $4,413 - Supplies used = $445

$6,106 - Supplies used = $445

Supplies used = $6,106 + $445

Supplies used = $5,661

6 0
3 years ago
An employee in your department has been coming to work 20 minutes late for the past week. the rest of the employees have picked
balandron [24]
The best way to handle this situation in a more professional way is to advice and tell the employee that his or her habit of being late had affected the department's ability. It is best to tell him or her that his or her presence is needed in order to get the job done and to be able to make the works or tasks that is being sent to the department more faster if he or she would come early and help with the other employees.
8 0
3 years ago
Read 2 more answers
If it is approved by legislators in member countries, the United States-Mexico-Canada Agreement (USMCA) will replace the existin
Ann [662]

If the United States-Mexico-Canada Agreement eventually get approved by the legislators in member countries, it will replace the existing North American Free Trade Agreement.

<h3>What is the United States-Mexico-Canada Agreement?</h3>

The agreement is expected to bring a support of beneficial trade amont members which will lead to free markets, fairer trade, and robust economic growth in the continent.

Hence, the approval of the agreement will lead to replacement of the North American Free Trade Agreement that served almost the same purpose.

Read more about USMCA

<em>brainly.com/question/3700351</em>

4 0
2 years ago
According to the mini-lecture and text, ___ % of a manufacturer's profit comes from repeat purchases and as a result this is why
r-ruslan [8.4K]

<u>90% </u>of a manufacturer's profit and income comes from repeated purchases from returning customers.

<h3>What is Lifetime Customer Value (LCV)?</h3>

Lifetime Customer Value is the entire contribution of a customer to a brand or business enterprise over the course of their relationship.

It's an essential metric since keeping returning customers requires less than acquiring new ones, thus improving the value of your existing customers is an excellent strategy to generate growth and profit.

Therefore, we can conclude that <u>90% </u>of a manufacturer's profit and income comes from repeated purchases from returning customers.

Learn more about Lifetime customer value here:

brainly.com/question/26483324

8 0
2 years ago
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