Answer:
determine purchase authority
Explanation:
Based on the scenario being described within the question it can be said that David was not successful because he forgot to determine purchase authority. In other words he gave the presentation to someone (the receptionist) that does not have any authority to make purchases for the company and is why he was unsuccessful. David needed to find the individual in charge of buying the pharmaceuticals for the company and give him the presentation.
Answer:
The journal entry to record the merchandise return and the payment should be:
Dr Cash 2,940
Dr Sales discount 60
Dr Sales returns and allowances 600
Cr Accounts receivable 3,000
The second entry must be made to record the increase in inventory:
Dr Merchandise inventory 600
Cr Sales returns and allowances 600
Explanation:
The sales returns and allowances account is used to record returned merchandise, while the sales discount account is used to record discounts for early payments or other types of sales discounts.
Answer: $7,740
Explanation:
Given, At December 31, Accounts receivable = $238,000
Allowance for uncollectible accounts = 3% of (accounts receivable)
∴ Allowance for uncollectible accounts = 3% of ($238,000 )
=$(0.03 ×238,000) [3% = 0.03]
= $ (7140)
= $7,140
Allowance for uncollectible accounts (credit) before any adjustments= $600
The amount of the adjustment for uncollectible accounts = Allowance for uncollectible accounts + $600
= $7,140 + $600
= $7,740
Hence, The amount of the adjustment for uncollectible accounts would be: <u>$7,740.</u>
Answer:
<em> $220,000</em>
Explanation:
Given:
Effective Gross Income(EGF) : $396,000
Operating Expenses(OE) : $176,000 ( Including $4,400 reserve for replacements)
To Find Net Operating Income(NOI):
NOI = EGF - OE
NOI = $396,000 - $176,000
NOI = $220,000
So the Net Operating Income is $220,000
Answer:
The correct answer is D. is a government designation that a private firm is the only legal producer of a good or service.
Explanation:
The Franchise is a type of contract in which one company (the franchisor) grants to another (the franchisee) the right to market certain products or services within a given geographical area and under certain conditions, in exchange for financial compensation.
Therefore we have two main figures:
- The franchisor: provides marketing rights so that the franchisor can use its brand, the commercial name and the design of the franchisee's establishment. In most cases, these elements cannot be modified to maintain the same levels of quality and form of the franchisor. In addition, the know-how, business experience and technical and commercial assistance during the term of the agreement are also provided.
- The franchisee: the owner of the business and who makes the necessary investments for its implementation, in addition to paying a fee to the franchisor to use your brand. This fee is like a "right of entry" into the business, in addition periodic amounts may also be established in the contract according to the volume of sales and / or technical and commercial assistance. In addition, the franchisee exclusively has the franchise regime with respect to a specific geographical area and a type of products.
