The seller may inform the customer of the details by issuing a credit memo .
A credit note or credit memo is a commercial document issued by a seller to a buyer. A credit memo serves as the source document for the sales return journal. In other words, the credit is evidence of a decline in sales. A credit is a short form of term credit and is evidence of a reduction in the amount owed by the buyer to the seller on a previous invoice.
A document from the bank to the depositor may also indicate that the depositor's account balance is in a non-deposit event such as B. Collection of the depositor's exchange bill by the bank.
A credit memo lists the products, quantities, and agreed prices for products or services offered by the Seller to the Buyer but not returned or received by the Buyer. May be issued for damaged goods, errors, and repairs.
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Deadweight loss is a type of economic inefficiency when a good or service is not at its economic equilibrium (where supply equals demand). This loss may be experienced because of a tax or subsidy, or because of market power, such as a monopoly. Economists refer to deadweight loss when they want to show the negative effects of certain policy decisions that are less than optimal.
Answer:
C.
Explanation:
Collateral consequences are legal and regulatory restrictions that limit or prohibit people convicted of crimes from accessing employment, business and occupational licensing, housing, voting, education, and other rights, benefits, and opportunities.
In this scenario, the clerk cannot get a job anymore after he stole credit card information. He cannot be trusted anymore due to his actions.
Paul is responsible for recording sales transactions at his company. To minimize entry errors, Paul uses a (n) <u>accounting process</u>.
The accounting process is the set of steps that allows the economic operations of an entity or company to be expressed through financial statements.
This process is essential for any company since they will be able to see their expenses and income, and thus make projections and help it to minimize entry errors of the company.
- During the accounting process, the economic operations of the company are compiled (purchases of materials, sales of products), together with the documents that guarantee each operation.
- Finally, before the accounting process is closed, adjustments or modifications can be made that allow a reliable balance.
Therefore, we can conclude that Paul is responsible for recording sales transactions at his company. To minimize entry errors, Paul uses a (n) accounting process.
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Answer:
The amount of gain or loss should be recorded on this exchange: b. $8,000 gain
Explanation:
Book value of the old sailboat = old sailboat's cost - accumulated depreciation = $110,000-$22,000 = $88,000
Trade-in allowance of the old sailboat - Book value of the old sailboat = $96,000 - $88,000 = $8,000 >0
Hunter Sailing Company only paid $28,000 in addition to the old sailboat to acquire the new sailboat.
Therefore, the company should record gain on this exchange of $8,000
