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3 years ago

Mention and explain documents for buying and selling

Business

1 answer:

Jlenok [28]3 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 liability created when a business collects cash from customers in advance of providing services or delivering goods is called?

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The liability created by receiving cash before providing the service or delivering the goods in question is called unearned revenue. In this case, the entity providing the goods/services records this transaction as revenue that has been generated but in real sense, the seller remains with the liability until after the actual delivery of the goods/services. The purpose of this practice can be advantageous to the seller in certain situations such as easing the burden of paying interest on debts.

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3 years ago

Management is considering replacing its blending equipment. The annual costs of operating the old equipment are $250,000. The an

e-lub [12.9K]

Answer:

$250,000

Explanation:

Since the purchase cost of an old equipment is already incurred and it does not have any kind of impact in decision making so this cost would be considered as the sunk cost i.e. $250,000

The operating cost of old & new equipment would be relevant for calculating the annual cost savings and the current selling value of the old equipment would also be relevant as salvage value

Therefore $250,000 would be considered

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3 years ago

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EastWind [94]

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3 years ago

Vroom-Va-Voom regularly polls its customers for their opinions about its products and its employees about working conditions. T

Anon25 [30]

Answer:

managing stakeholder relationship

Explanation:

Based on the information provided within the question it can be said that in this scenario these are two example of managing stakeholder relationship. This refers to a company performing certain actions and decisions in order to meet the expectations and agreed upon objectives of the company's stakeholders. Which is what Vroom-Va-Voom is doing by gathering information on how to better their company to generate more revenue. Thus making stakeholders happy.

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3 years ago

Read 2 more answers

Read the description of following adjustments that are required at the end of the accounting period for Paulo Consulting Service

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Answer:

A. Equipment was purchased on January 1, 2019, for $49,770 and has an estimated useful life of 5 years with a salvage value of 4,270.

Depreciation is computed using the straight-line method.

depreciation expense per year = ($49,770 - $4,270) / 5 years = $9,100

depreciation expense per month = $9,100 / 12 = $758.33

January 31, 2019, depreciation expense

Dr Depreciation expense 758.33

Cr Accumulated depreciation - equipment 758.33

B. Signed a 5-month contract for $5,490 of prepaid advertising on January 1, 2019.

advertising expense per month = $5,490 / 5 = $1,098

January 31, 2019, advertising expense

Dr Advertising expense 1,098

Cr Prepaid advertising 1,098

C. Prepaid rent for the year on January 1, 2019, in the amount of 22,560.

rent expense per year = $22,560 / 12 = $1,880

January 31, 2019, rent expense

Dr Rent expense 1,880

Cr Prepaid rent 1,880

D. Purchased supplies for $4,200 on January 1, 2019. Inventory of supplies was $2,850 on January 31, 2019.

supplies expense = $4,200 - $2,850 = $1,350

January 31, 2019, supplies expense

Dr Supplies expense 1,350

Cr Supplies 1,350

8 0

3 years ago

Mention and explain documents for buying and selling​

Mention and explain documents for buying and selling