Complete the table listed belowName of AccountsType of AccountNormal BalanceUsed to RecordPurchases???Purchases Returns and Allowances???Purchases Discounts???Freight In or Transportation In???
What will be an ideal response?
Name of Accounts | Type of Account | Normal Balance | Used to Record |
Purchases | Expense | DR | Purchases of merchandise inventory |
Purchases Returns and Allowances | Contra Expense | CR | Returns of merchandise inventory to seller |
Purchases Discounts | Contra Expense | CR | Cash discounts taken for early payments to the seller |
Freight In or Transportation In | Expense | DR | Amount of transportation costs on merchandise inventory purchased |
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Refer to Table 11.4. On Wednesday, the 90-day forward franc was selling at a
a. 0.8 percent premium per annum against the dollar. b. 1.6 percent premium per annum against the dollar. c. 0.8 percent discount per annum against the dollar. d. 1.6 percent discount per annum against the dollar.
________ buy components from manufacturers and assemble them to make their own products
A) Wholesalers B) Value-added resellers C) Original equipment manufacturers D) Sales agents E) Distributors
Which of the following pairs correctly identifies the subjects illustrated in the two main panels of the rectangular box known as the Standard of Ur?
a. “Winter” and “Summer”
b. “Heaven” and “Earth”
c. “Planting” and “Harvest”
d. “War” and “Peace”
Requests for admissions are written requests by one party to another to admit or deny the truth of a statement or thegenuineness of a document
a. True b. False