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Ivanshal [37]
3 years ago
14

When a vendor credit is recorded by a Quick Books Online user, what are 2 ways to use the vendor credit?

Business
1 answer:
labwork [276]3 years ago
8 0

Answer:

Explanation:

These are the 2 ways to use provider credit:

1. Through linking reimbursement checks in bank deposit. These checks are from the vendor and will be used to create a vendor credit.

2. Making payment of supplier invoices, is another way to use credit, to carry out this, I have to create the invoice.

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Identifying the needs a business will address is a good example of the _______ of the organization.
Flura [38]
The answer for this question is C.
8 0
3 years ago
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Better Corp. (BC) began operations on January 1, Year 1. During Year 1, BC experienced the following accounting events: 1. Acqui
makkiz [27]

Answer:

Better Corp. (BC)

a. Accounting Equation

Assets                =       Liabilities       +               Equity

1. Cash $7,000                                                   Common stock $7,000

2. Cash $12,000        Bank loan payable $12,000

3. Cash $47,000                                                Service Revenue $47,000

4. Cash ($30,000)                                              Op. expenses ($30,000)

5. Cash ($8,000)                                                Cash dividend ($8,000)

6. Land $20,000 Cash ($20,000)

Assets $28,000   =  Liabilities $12,000  + Equity $16,000

b. Total assets = $28,000

Total liabilities = $12,000

Stockholders' equity = $16,000

Balance Sheet as of December 31, Year 1

Assets:

Cash                     $8,000

Land                  $20,000

Total assets      $28,000

Liabilities:

Bank loan         $12,000

Equity:

Common stock $7,000

R/Earnings          9,000

Total equity    $16,000

Liabilities and

 Equity          $28,000      

c. Total assets = $28,000

Total liabilities = $12,000

Total equity = $16,000

d. The Land will be shown on the December 31, Year balance sheet at $20,000.  The reason is that this is the acquisition cost and the land is not held for trading (no information provided).

Explanation:

a) Data and Analysis based on the Accounting Equation:

1. Cash $7,000 Common stock $7,000

2. Cash $12,000 Bank loan payable $12,000

3. Cash $47,000 Service Revenue $47,000

4. Cash ($30,000) Operating expenses ($30,000)

5. Cash ($8,000) Cash dividend ($8,000)

6. Land $20,000 Cash ($20,000)

7 0
3 years ago
Although a business has had record sales it is having a hard time paying the bills each month. As a manager you are uncertain wh
Svetradugi [14.3K]

Answer:

Income statements and or Cash flow statements.

Explanation:

Income statement and Cash flow statements are required.

Income Statement will give us insight about our costs as we maybe recording sales but if the costs and expenses are too high we are unlikely to be making enough gross profits to be able to pay bills.

Cash flow statements are required as sales may be credit and thus reducing working capital for the company, although they may be making profits but if the debts are uncollected they are unlikely to have cash available to be able to make payments.

Hope that helps.

3 0
3 years ago
Bramble Corporation is a small wholesaler of gourmet food products. Data regarding the store's operations follow:
Orlov [11]

Answer: $54,000

Explanation:

Referring to the data regarding store operation given above, difference between cash receipt and cash disbursement for December could be calculated as follows;

December Cash receipt = (340,000*20%+320,000*80%) = 324,000

November Purchases = (340,000 × 75%)+(320,000 × 75% × 60%) - 153,000 = 246,000

December Cash payment = 246,000 +240,000 = 270,000

The difference between cash receipts and cash disbursement for December = 324,000 - 270,000 = 54,000

6 0
3 years ago
Read 2 more answers
Example of demand in economics.
sweet [91]
Examples<span> of the Supply and </span>Demand<span> Concept. Supply refers to the amount of goods that are available. </span>Demand<span> refers to how many people want those goods. When supply of a product goes up, the price of a product goes down and </span>demand<span> for the product can rise because it costs loss.</span>
5 0
3 years ago
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