Answer:
The correct answer is D. the ending merchandise inventory balance must be recorded as a debit via the Income Summary account
Explanation:
In the permanent inventory system, all purchases, sales, discounts and returns on purchases and sales are recorded at cost, in the account Goods not Manufactured by the Company. Thus: Purchases: the acquisition of merchandise is accounted for with a debit in the Merchandise not Manufactured by the Company account and a credit in Banks or Suppliers, as the case may be.
The initial inventory represents the value of the stock of merchandise on the date the accounting period began. This account is opened when the control of the inventories, in the Major General, is carried out based on the speculative method, and does not return to movement until the end of the accounting period when it will be closed with charge at cost of sales or by Profit and Loss directly. And it is the detailed and detailed relationship of the stock of merchandise that a company has when starting its activities, after making a physical count.
The final inventory is made at the end of the accounting period and corresponds to the physical inventory of the merchandise of the company and its corresponding valuation. By relating this inventory to the initial one, with the net purchases and sales of the period, you will obtain the Gross Profits or Losses in Sales of that period. is the list of stocks at the end of an accounting period.
Answer:
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Explanation:
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Answer:
Number of ATMs or bank branches near where you live, shop, work, or travel.
Explanation:
As much as possible, your bank should be near where you live, shop, or work. The proximity will be advantageous in various ways, including.
- It will reduce costs by eliminating transport expense in banking operations.
- Proximity will foster a better business relationship with the bank. There are higher chances of meeting banking officials out of the work environment, which is likely to improve the relationship.
- Should there issues that need resolution in the bank, you will be able to resolve them more quickly.
- Formal communication between you and the bank will be enhanced. Banks use hard copy documents for the majority of their official transactions. Being close to the bank will make communication faster.
Answer: $2,570
Explanation:
Simple estimates that the appropriate ending balance in the Allowance for Doubtful Accounts is $2,800.
This account has a credit balance of $230.
The amount of Bad Debt expense is the amount that will take it to a balance of $2,800:
= 2,800 - 230
= $2,570
Answer:
automate repetitive functions.
Explanation:
Operational decision making involves those choices made during day-to-day running of a business. Most of the activities are routine and repititive. These activities are usually carried out by middle and low level managers.
So to increase efficiency of the process and reduce waste information systems at the operational level of decision-making is automated.
