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3 years ago

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

1 answer:

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.

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In one of the training sessions in your company, you notice several members are not from the United States. These members are al

Alja [10]

Answer:

Go-round

Explanation:

It is not uncommon that some people can be reticent and not contributing to discussion during a session. This does not mean that such people do not have anything to contribute but may just be shy .

One technique to encourage these members to express their opinion is by employing the go - round discussion method. This can give them the courage to voice their opinion when it is their turn to speak

5 0

3 years ago

Sooner Machinery Company purchased a delivery truck at a cost of $56,000 on March 10, 2018. The truck has a useful life of six y

Fofino [41]

Answer:

Results are below.

Explanation:

Giving the following information:

Purchase price= $56,000

Useful life= 6 yearsd

Salvage value= $5,000

a. To calculate the annual depreciation, we need to use the following formula:

Annual depreciation= (original cost - salvage value)/estimated life (years)

Annual depreciation= (56,000 - 5,000) / 6= $8,500

Year 1:

Annual depreciation= (8,500/12)*10= $7,083.33

Year 2:

Annual depreciation= $8,500

b. To calculate the annual depreciation, we need to use the following formula:

Annual depreciation= 1.5*[(book value)/estimated life (years)]

Year 1:

Annual depreciation= [(1.5*8,500)/12]*10= $10,625

Year 2:

Annual depreciation= [(51,000 - 10,625)/6]*1.5

Annual depreciation= $10,093.75

4 0

3 years ago

What would be the best time for a person to buy a franchise?

VashaNatasha [74]

When your financially comfortable

3 0

3 years ago

Read 2 more answers

If an organization ensures that a chain of command or hierarchy is well established, which characteristic of an effective bureau

Vika [28.1K]

I believe the correct answer is Hierarchical Authority

Wеbеr's thеοriеs, dеvеlοpеd at thе turn οf thе 20th cеntury, hеlpеd dеfinе thе еcοnοmic and pοlitical systеms еmеrging frοm thе highly cοncеntratеd authοrity οf hеrеditary rulеrs and thеir suppοrtеrs. Thеy dеfinеd many 20th-cеntury institutiοns. Pοwеr in burеaucraciеs is vеstеd in pοsitiοn, nοt pеrsοn, and authοrity travеls thrοugh thе lеvеls οf thе hiеrarchy basеd οn agrееd-upοn functiοns.

3 0

3 years ago

Read 2 more answers

An accountant has encountered a perplexing financial reporting issue related to the private college for which he is preparing fi

frez [133]

Answer:

c) AICPA accounting and auditing guide, Audits of Colleges and Universities and/or AICPA SOP 74-8, Financial Accounting and Financial Reporting by Colleges and Universities.

Explanation:

As accounting and auditing guide which is issued by AICPA for health care 3 gives full guidance on how to deal with financial reporting issues for the hospital so the accountant would look into it for any problem related to it.

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3 years ago