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rodikova [14]
2 years ago
15

Mention and explain documents for buying and selling​

Business
1 answer:
Jlenok [28]2 years ago
4 0

Answer:

Inquiry Letter

Sometimes a business can send this to a supplier to find out if they have a certain good in stock.

Purchase Requisition

This is a document used by a department in a company to request that those in charge of procurement acquire some goods for them.

Quotation

This is a document sent by a supplier to the prospective buyer informing them of the goods they have and their selling price.

Purchase Order

This is the document that shows a formal request for goods from a supplier.

Delivery Note

This is used to confirm that the buyer has received the goods they ordered. The buyer will typically sign this document to confirm receipt.

Invoice

A supplier prepares and sends this to the buyer to show them the goods they ordered and the prices so that the buyer knows how much they owe.

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A company uses the periodic inventory system and had the following activity during the current monthly period.
Alekssandra [29.7K]

Answer:

The answer is: $3,289

Explanation:

<u>Date</u>                 <u>Units </u>                 <u>Unit price</u>           <u>Inventory</u>      <u>Average cost</u>

Purchases

Nov. 1             103 units             $20 per unit        $2,060        $20 per unit              

Nov. 5            103 units             $22 per unit        $4,326         $21 per unit

Nov. 8            53 units               $23 per unit        $5,545        $21.41 per unit

<u>Nov. 19           30 units              $25 per unit        $6,295        $21.78 per unit</u>

TOTAL           289 units            $21.78 per unit    $6,295        $21.78 per unit

Sales

Nov. 16          -138 units            $21.78 per unit    $3,006       $21.78 per unit

Ending inventory

Nov. 30          151 units           $21.78 per unit    $3,289       $21.78 per unit

3 0
3 years ago
According to the diathesis-stress model, if 100% of individuals with a genetic predisposition to a disorder actually display sym
ELEN [110]

Answer:Biological

Explanation:

The Diasthesis-stress model is a psychological theory which explains that peoples predisposition to stress can be affected by external causes of stress within the environment and thus, create a disorder. Some people are more prone to stressors compared to others. The biological behavioural approach is unaffected by the social, cultural, and environmental factors.

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3 years ago
Departmental overhead rates may not correctly assign overhead costs due to:
Vika [28.1K]

Answer:C.overreliance on volume as a basis for allocating overhead costs where products differ regarding the number of units produced, lot size, or complexity ofproduction.

6 0
3 years ago
What is NOT affected by decisions of the federal Open Market Committee?
natka813 [3]

I believe the answer is: D. bond prices


Bond prices is determined by the mutual agreement between the company who issue the bond and the investors who bought them along with its value in the market. federal Open Market Committee only has the jurisdiction in United States Treasury securities and banking operation.

5 0
3 years ago
Read 2 more answers
Garden Sales, Inc, sells garden supplies. Management is planning its cash needs for the second quarter. The company usually has
muminat

Answer:

Garden Sales, Inc.

                                                       April            May          June          Total

1. Cash Collections:

Cash sales (20%)                         $92,000   $198,000   $88,000  $378,000

Credit sales:

10% month of sale                         36,800       79,200     35,200       151,200

70% month following sale           123,200    257,600   554,400     935,200

20% second month following      25,600      35,200      73,600      134,400

Total cash collections               $277,600 $570,000  $751,200 $1,598,800

2. Merchandise Inventory:

a.    Purchases Budget                   April            May          June      

Cost of goods sold                      322,000    693,000   308,000

Ending inventory (15%)                 103,950      46,200     35,700

Goods available for sale             425,950    739,200   343,700  

Beginning inventory                      84,000     103,950    46,200

Purchases                                    341,950    635,250   297,500

b. Cash payment for purchases:

50% month of purchase              170,975     317,625    148,750      637,350

50% month following purchase 126,000      170,975    317,625      614,600

Total payment for purchases  $296,975  $488,600 $466,375 $1,251,950

3. Cash Budget

                                                       April            May          June         Total

Beginning cash balance           $46,000   $40,225     $40,425     $46,000

Total cash collections                311,200    652,800     727,600 $1,691,600

Cash available                        $357,200 $693,025   $768,025 $1,737,600

Payment for purchases          $296,975  $488,600 $466,375 $1,251,950

Other payments:

Dividends                                   24,000                                              24,000

Land purchase                                              32,000                           32,000

Selling & administrative exp.   115,000       134,000      73,400      322,400

Total cash payments            $435,975   $654,600  $539,775 $1,630,350

Cash Balance                           (78,775)       38,425    228,250     228,250

Minimum Cash balance         (40,000)      (40,000)  

Cash required                       $118,775         $1,575       0                      0

Cash borrowed                    $119,000        $2,000   (123,400)     (123,400)

Ending balance                       40,225        40,425    104,850       104,850

4. To: The President

From: FC

Subject: Revised Estimates and the Cash Budget

Date: April 26, 2021

The revised estimates will ensure that the company has the ability to pay off its borrowings in April and May by the end of the second quarter.

It should be maintained.

Regards,

Explanation:

a) Data and Calculations:

Budgeted monthly absorption costing income statements for April-July are:

                                                       April            May          June          July

Sales                                           $460,000 $990,000 $440,000 $340,000

Cost of goods sold                      322,000    693,000   308,000   238,000

Gross margin                                138,000    297,000    132,000    102,000

Selling and administrative expenses *

Selling expense                             89,000      94,000     55,000     34,000

Administrative expense                42,000      56,000     34,400     32,000

Total selling and administrative

expenses                                     131,000     150,000     89,400     66,000

Net operating income                  $7,000   $147,000   $42,600   $36,000

                                                       April            May          June          July

Sales                                           $460,000 $990,000 $440,000 $340,000

Credit sales (80%)                        368,000    792,000   352,000   272,000

Cash collections

Cash sales (20%)                         $92,000   $198,000   $88,000  $68,000

Credit sales:

10% month of sale                         36,800       79,200     35,200     27,200

70% month following sale           123,200    257,600   554,400   246,400

20% second month following      25,600      35,200      73,600    158,400

Total cash collections               $277,600 $570,000  $751,200 $500,000

                                                       April            May          June          July

Cost of goods sold                      322,000    693,000   308,000   238,000

Ending inventory (20%)                138,600       61,600     47,600

Goods available for sale             460,600    754,600   355,600  

Beginning inventory                      64,400     138,600      61,600     47,600

Purchases                                   396,200     616,000   294,000

Cash payment for purchases:

50% month of purchase             198,100     308,000    147,000

50% month following purchase 93,800       198,100   308,000

Total payment for purchases $291,800   $506,100 $455,000

Other payments:

Dividends                                   24,000

Land purchase                                              32,000

Selling & administrative exp.   115,000       134,000      73,400

Total cash payments           $430,800     $672,100 $528,400

Principal debt to bank at the end of the quarter =    $121,000

+ Interests: 1% of $119,000 = $1,190

1% of $121,000                         1,210

Total interest owed              $2,400                               2,400

Total debt to the bank at the end of the quarter = $123,400

Revised Estimates:

Credit sales (80%)                        368,000    792,000   352,000   272,000

Cash collections

Cash sales (20%)                         $92,000   $198,000   $88,000  $378,000

Credit sales:

25% month of sale                        92,000     198,000      88,000    378,000

65% month following sale            114,400    239,200     514,800    868,400

10% second month following        12,800        17,600      36,800       67,200

Total cash collections                $311,200  $652,800  $727,600 $1,691,600

                                                        April            May          June          July

Cost of goods sold                      322,000    693,000   308,000   238,000

Ending inventory (15%)                 103,950      46,200     35,700

Goods available for sale             425,950    739,200   343,700  

Beginning inventory                      84,000     103,950    46,200

Purchases                                    341,950    635,250   297,500

Cash payment for purchases:

50% month of purchase              170,975     317,625    148,750

50% month following purchase 126,000      170,975    317,625

Total payment for purchases  $296,975  $488,600 $466,375

Other payments:

Dividends                                   24,000

Land purchase                                              32,000

Selling & administrative exp.   115,000       134,000      73,400

Total cash payments           $435,975    $654,600  $539,775

5 0
2 years ago
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