1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
LenKa [72]
3 years ago
15

When a purchase on account is made the invoice becomes a debit memo?

Business
1 answer:
I am Lyosha [343]3 years ago
6 0
When a purchase on account is made, the invoice becomes a debit memo. The account receivable is normally documented through invoice which is issued to the customer who is buying on credit. When purchasing on an account, the balance of the invoice becomes a payable, that is, a debt. 
You might be interested in
What is the name of the food production strategy, which is characterized by "slash and burn, swidden agricultural techniques use
tigry1 [53]
This food production strategy is what is commonly referred to as unsustainable agriculture. The agriculture process removes the delicate balance of flora and fauna in jungle or forested areas and quickly depletes the land of any remaining nutrients and is therefore unsustainable. The lack of concern or care for the natural environment can lead to larger catastrophes like the creation of scorched earth or desert-like environments where plant and animal life cannot return for decades, if ever.
8 0
3 years ago
In the late 1970s Federal Reserve Chairman Paul Volcker contracted the money supply to reduce the rate of inflation. One result
xxTIMURxx [149]

Answer: to increase interest rates which reduced aggregate demand.

Explanation:

Since the money supply was contracted to reduce the rate of inflation, this will lead to increase interest rates which reduced aggregate demand.

In this case as a result of the increase in the interest rate, people will prefer to save their money in the banks and thus will result in less money in circulation which ultimately reduces the demand for goods and services.

8 0
3 years ago
A ___________ jury is one whose members are irreconcilably divided.
elena-14-01-66 [18.8K]
<span>A hung jury is one whose members are irreconcilably divided.
In hung jury the members are </span>irreconcilably divided in their opinions that they cannot reach a verdict (a formal decision that was made by the jury) or we can say that they can't concur upon a decision after stretched out thought and can't achieve the required unanimity or super-majority, hung jury is also known as deadlocked jury.
4 0
3 years ago
Gift property (disregarding any adjustment for gift tax paid by the donor): a.Has the same basis to the donee as the donor's adj
Llana [10]

Answer: Has the same basis to the donee as the donor's adjusted basis if the donee disposes of the property at a gain.

Explanation:

For a gifted property, it should be noted that the tax basis for a donee that is, the person who gets the gift will be identical to that of the donor, this is, the person that donates the gift in cases whereby the property is gotten as a gift.

Therefore, a gift property disregarding any adjustment for gift tax paid by the donor will have the same basis to the donee as the donor's adjusted basis if the donee disposes of the property at a gain.

6 0
3 years ago
The partnership agreement of Jones, King, and Lane provides for the annual allocation of the business's profit or loss in the fo
Pani-rosa [81]

Answer:

Mr. J = $27,000

Mr. K = $24,000

Mr. L = $39,000

Explanation:

Partnership for the year 2018 = $90,000

Profit/(Loss) to be distributed:

= Partnership for the year 2018 - Bonus to Mr. J - Interest on average capital investment

= $90,000 - [20% × $90,000] - {(15% × $100,000) + (15% × $200,000) + (15% × $300,000)}

= $90,000 - $18,000 - [$15,000 + $30,000 + $45,000]

= ($18,000) ⇒ Loss

Loss to be allocated to each partner = ($18,000) ÷ 3

                                                             = ($6,000)

Therefore, the profit of $90,000 should be assigned to each partner is as follows:

Mr. J = $18,000 + $15,000 + ($6,000)

        = $27,000

Mr. K = $30,000 + ($6,000)

         = $24,000

Mr. L = $45,000 + ($6,000)

        = $39,000

7 0
3 years ago
Other questions:
  • __________ is the use of a third party to encourage labor and management to continue negotiating in an effort to settle a labor
    13·1 answer
  • Jake Lamps manufactures lamps, lights, shades, and bulbs. Its lighting lasts long and saves power, and it is superior in quality
    8·1 answer
  • In its role as money manager, the Federal Reserve has three primary goals: to maintain stable prices (control inflation), ensure
    9·1 answer
  • The supply-side method identifies the effect sponsorship has on consumers' brand knowledge.
    6·1 answer
  • An investor purchases one municipal bond and one corporate bond that pay rates of return of 7% and 8.4%, respectively. If the in
    15·1 answer
  • The ________ department is where the advertising is developed from idea to ad. It involves copywriting, graphic design, and ofte
    15·1 answer
  • Rework problem 3 in section 1 of Chapter 7 of your textbook, about the Natural Fertilizer Company, using the following data. Ass
    8·1 answer
  • Dimon Products' sales are expected to be $5 million this year, with 90% on credit and 10% for cash. Sales are expected to grow a
    10·1 answer
  • Zipcar’s goal is to have an available zipcar located within 10–15 minutes of its members. This is an example of what component o
    14·1 answer
  • Which of the following is one way that technology can improve productivity?
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!