1. Investing
2. Financing
Thursday, May 15, 2014
Making It Personal Chapter 19
Advantages of two retirement savings options:
-You will always have money coming in
- If social security stops then you will have money to use
- You can start saving for retirement at an early age so you can do more things when you retire
Disadvantages of two retirement savings options:
- You have to keep track of twice as much money
- You rack up a lot of money and have the urge to use it all at once
International Accounting Chapter 19
The BMW balance sheet has non-current assets rather than current assets, and the stockholders' equity comes before liabilities, so this affects how the balance sheet is. It is based on assets that are not current and since it's like that the balance sheet is no up to date and might not be correct.
"Stunning BMW CS Vintage Concept Tribute Shows Old 1960s Design Still Works Today - Carscoops." Stunning BMW CS Vintage Concept Tribute Shows Old 1960s Design Still Works Today - Carscoops. N.p., n.d. Web. 15 May 2014. <http://www.carscoops.com/2014/03/stunning-bmw-cs-vintage-concept-tribute.html>.
"Stunning BMW CS Vintage Concept Tribute Shows Old 1960s Design Still Works Today - Carscoops." Stunning BMW CS Vintage Concept Tribute Shows Old 1960s Design Still Works Today - Carscoops. N.p., n.d. Web. 15 May 2014. <http://www.carscoops.com/2014/03/stunning-bmw-cs-vintage-concept-tribute.html>.
Communicating Accounting Chapter 19
The income statement is used to show the amount of income made for a certain month, the statement of retained earnings is used to show the amount of money held by the company after all the deductions are made, balance sheet is used to make sure all the account amounts are balanced the way they should be, and statement of cash flow is used to show the amount of money the business is making over all. If one of these statements is wrong or off, it affects all the rest of the statements, because they all go together.
"IntroÂducÂtion to FinanÂcial StateÂments - Income StateÂment Analysis."The Kaplan Group. N.p., n.d. Web. 15 May 2014. <http://www.kaplancollectionagency.com/financial-statement-analysis/income-statement-analysis/>.
"IntroÂducÂtion to FinanÂcial StateÂments - Income StateÂment Analysis."The Kaplan Group. N.p., n.d. Web. 15 May 2014. <http://www.kaplancollectionagency.com/financial-statement-analysis/income-statement-analysis/>.
A Matter of Ethics Chapter 19
1. The ethical issue is that a co-worker made a significant error on the work sheet.
2. The alternative would be to try and fix the problem or confront the co-worker about it.
3. You, the business, and the co-worker.
4. It affects you because you know about the mistake and you are not able to do anything about it. It affects the business because if it is financial, the business looses the money, and the co-worker because he/she did it.
5. I personally would go to the boss and ask what they think they should do, and go from there.
Case Study Chapter 19
1. The items that affect the net income are the cookies and the candies. They are made mostly with sugar and it is the sugar that is making the net income decrease.
2. This company should cut back on their cookie and candies and focus more on the food and the other gift items. Since the sugar is so expensive and makes the decrease in net income, this is the most sensible thing to do.
Critical Thinking Chapter 19
1. The two parts of the stockholder's equity are equity contributed by stockholders and equity earned through business profits.
2. Gross profit on sales is found by subtracting the cost of merchandise sold from net sales. Operating income is the excess of gross profit over operating expenses.
3. The statement of retained earnings is a something that reports the changes in the Retained Earnings account during the period. The statement of cash flows reports how the activities of a business caused the cash balance to change during the accounting period.
4. The percentages on comparative income statements and balance sheets add vital information for analysis by allowing them to see the change from the beginning of he period to the end.
5. All four statements must be examined thoroughly to obtain an accurate understanding of a corporation's financial condition because each statement shows the financial standings of the company. If one of the statements if wrong or off, it messes up all the rest of the statements that's why they must be checked thoroughly.
"gross profit calculation." Docstoc.com. N.p., n.d. Web. 15 May 2014. <http://www.docstoc.com/docs/2778967/gross-profit-calculation>.
2. Gross profit on sales is found by subtracting the cost of merchandise sold from net sales. Operating income is the excess of gross profit over operating expenses.
3. The statement of retained earnings is a something that reports the changes in the Retained Earnings account during the period. The statement of cash flows reports how the activities of a business caused the cash balance to change during the accounting period.
4. The percentages on comparative income statements and balance sheets add vital information for analysis by allowing them to see the change from the beginning of he period to the end.
5. All four statements must be examined thoroughly to obtain an accurate understanding of a corporation's financial condition because each statement shows the financial standings of the company. If one of the statements if wrong or off, it messes up all the rest of the statements that's why they must be checked thoroughly.
"gross profit calculation." Docstoc.com. N.p., n.d. Web. 15 May 2014. <http://www.docstoc.com/docs/2778967/gross-profit-calculation>.
Tuesday, April 8, 2014
Analyzing Financial Reports Chapter 17
1. It would include the food for the animals, the toys for the animals, cages, bedding, extra supplies, and grooming tools.
2. They started buying cheaper products to sell for more money in return.
"PetSmart." Wikipedia. Wikimedia Foundation, 4 July 2014. Web. 8 Apr. 2014. <http://en.wikipedia.org/wiki/PetSmart>.
2. They started buying cheaper products to sell for more money in return.
"PetSmart." Wikipedia. Wikimedia Foundation, 4 July 2014. Web. 8 Apr. 2014. <http://en.wikipedia.org/wiki/PetSmart>.
Making it Personal Chapter 17
Things you need to know about filing a federal income tax return:
-Prepare everything on paper
- Use all of the correct paperwork (i.e. Form 1080EZ and Form 1080A)
- Collect the tax return W2 form from your employer
International Accounting Chapter 17
Brainstorm:
- Good Administration
- Leadership
- Capacity to think and act strategically
- Tech Savvy
- Ability to be a team player
- Good criticism
- Think before you speak
"Business Research Plus." Business Research Plus. N.p., n.d. Web. 8 Apr. 2014. <https://bizlib247.wordpress.com/tag/orbi
- Good Administration
- Leadership
- Capacity to think and act strategically
- Tech Savvy
- Ability to be a team player
- Good criticism
- Think before you speak
"Business Research Plus." Business Research Plus. N.p., n.d. Web. 8 Apr. 2014. <https://bizlib247.wordpress.com/tag/orbi
Communicating Accounting Chapter 17
Thomas,
Please specify which of the transactions were cash purchases and which are purchases on account. For me to process these I need to know the receipt numbers and the amount money that was paid. I also need the invoice and the invoice numbers. Please get back to me as soon as possible. Thank you for your cooperation.
"Create a Business Memo." Create a Business Memo. N.p., n.d. Web. 8 Apr. 2014. <http://www.crews.org/curriculum/ex/com
Please specify which of the transactions were cash purchases and which are purchases on account. For me to process these I need to know the receipt numbers and the amount money that was paid. I also need the invoice and the invoice numbers. Please get back to me as soon as possible. Thank you for your cooperation.
"Create a Business Memo." Create a Business Memo. N.p., n.d. Web. 8 Apr. 2014. <http://www.crews.org/curriculum/ex/com
A Matter of Ethics Chapter 17
1. The ethical issues are that you are assuming that he will not cash the check first and wait until the work is completed. You are also taking a risk of being in trouble for writing a possible bounced check.
2. The alternatives could be to tell the mechanic that you only have so much that you could pay then and the pay as you get the money. You could also pay with a credit card if you had one.
3. The affected parties are you and the mechanic.
4. The alternatives would affect the mechanic by not getting the money right away and causing him to maybe not have enough money for the project.
5. I would let the mechanic know about my situation and see what he says. If he wants the money on the spot, I would pay with a credit card and work hard to balance the card later on.
"Mechanic." : The meaning of the dream in which you see ''. N.p., n.d. Web. 8 Apr. 2014. <http://eofdreams.com/mechanic.html>.
2. The alternatives could be to tell the mechanic that you only have so much that you could pay then and the pay as you get the money. You could also pay with a credit card if you had one.
3. The affected parties are you and the mechanic.
4. The alternatives would affect the mechanic by not getting the money right away and causing him to maybe not have enough money for the project.
5. I would let the mechanic know about my situation and see what he says. If he wants the money on the spot, I would pay with a credit card and work hard to balance the card later on.
"Mechanic." : The meaning of the dream in which you see ''. N.p., n.d. Web. 8 Apr. 2014. <http://eofdreams.com/mechanic.html>.
Case Study Chapter 17
1. I would look at the invoice numbers to see if they are the identical order.
2. When the amount is paid, I would make a note that it was paid. I would then call the company to make sure the invoice was not processed again.
"The World's Best Record Stores Worth Travelling To - Groovetraveler." The World's Best Record Stores Worth Travelling To - Groovetraveler. N.p., n.d. Web. 8 Apr. 2014. <http://www.groovetraveler.com/2012/08/16/the-worlds-best-record-stores-worth-travelling-too/>.
2. When the amount is paid, I would make a note that it was paid. I would then call the company to make sure the invoice was not processed again.
"The World's Best Record Stores Worth Travelling To - Groovetraveler." The World's Best Record Stores Worth Travelling To - Groovetraveler. N.p., n.d. Web. 8 Apr. 2014. <http://www.groovetraveler.com/2012/08/16/the-worlds-best-record-stores-worth-travelling-too/>.
Monday, April 7, 2014
Critical Thinking Chapter 17
1. The purpose of the purchase journal is to record all purchases on account. The purchase of the cash payments journal is used to record all transactions in which cash is paid out or decreased.
2. I would have to go back through the entries to see if I missed something or put in the wrong number.
3. I would create the schedule of accounts payable and to prove its accuracy I would compare the numbers to the previous months numbers.
4. The purchase of supplies is not recorded in the special columns of the purchases journal because the purchases do not occur often enough. Store equipment is not recorded in the journal's Purchases Debit column because it is not not merchandise purchased for resale. The General Debit column is not posted to the general ledger because the individual amounts were posted during the month.
5. The accounting documents I would need to prepare a cash proof are the general ledger, the cash receipts journal, and the cash payments journal. The steps I will perform are to record the beginning balance of Cash in Bank, entering the total cash received during the month, add the first and second lines of this Cash Proof, from that subtotal I would subtract the cash payments for the month, then I would compare this ending figure to the balance shown on the last check stub in the checkbook.
6. It is important to prove cash because it verifies that amounts recorded in the general ledger, cash receipts journal, and cash payments journal agree with the checking account balance.
"The Case for Cash." Peak Prosperity. N.p., n.d. Web. 7 Apr. 2014. <http://www.peakprosperity.com/insider/83957/case-cash>.
2. I would have to go back through the entries to see if I missed something or put in the wrong number.
3. I would create the schedule of accounts payable and to prove its accuracy I would compare the numbers to the previous months numbers.
4. The purchase of supplies is not recorded in the special columns of the purchases journal because the purchases do not occur often enough. Store equipment is not recorded in the journal's Purchases Debit column because it is not not merchandise purchased for resale. The General Debit column is not posted to the general ledger because the individual amounts were posted during the month.
5. The accounting documents I would need to prepare a cash proof are the general ledger, the cash receipts journal, and the cash payments journal. The steps I will perform are to record the beginning balance of Cash in Bank, entering the total cash received during the month, add the first and second lines of this Cash Proof, from that subtotal I would subtract the cash payments for the month, then I would compare this ending figure to the balance shown on the last check stub in the checkbook.
6. It is important to prove cash because it verifies that amounts recorded in the general ledger, cash receipts journal, and cash payments journal agree with the checking account balance.
"The Case for Cash." Peak Prosperity. N.p., n.d. Web. 7 Apr. 2014. <http://www.peakprosperity.com/insider/83957/case-cash>.
Monday, March 17, 2014
Analyzing Financial Reports Chapter 16
1. The store sales increased over the prior year. The reasons for this change was that they built new stores.
2. An analysis of sales would be important to people reading an annual report because it would show them how well the company did over the past year.
"PetSmart opens, ALDI continues construction." Central Michigan Life. N.p., n.d. Web. 17 Mar. 2014. <http://www.cm-life.com/2012/09/06/petsmart-holds-grand-opening-saturday-aldi-continues-construction/>.
2. An analysis of sales would be important to people reading an annual report because it would show them how well the company did over the past year.
"PetSmart opens, ALDI continues construction." Central Michigan Life. N.p., n.d. Web. 17 Mar. 2014. <http://www.cm-life.com/2012/09/06/petsmart-holds-grand-opening-saturday-aldi-continues-construction/>.
Making It Personal Chapter 16
Making It Personal-
The seven denominations are: Ones, two dollar bills, fives, tens, twenties, fifty's, and hundreds. Ones have Washington's portrait on it, two dollar bills have Jefferson, fives have Lincoln's portrait, tens have Hamilton, twenties have Jackson's portrait, fifty's have Grant and hundreds have Franklin's portrait on it. The security threads on U.S. currency is used to prevent the duplication of money that isn't real. The security thread isn't able to duplicate. Torn bills are acceptable if over 50% of the bill is still intact. Then the bill can sent to the Bureau to be inspected.
Friday, March 14, 2014
International Accounting Chapter 16
My Model AB computer would not be competitive after the tariff because mine would be $215.25 and the other company's would be $210.
"Salon." Saloncom RSS. N.p., n.d. Web. 14 Mar. 2014. <http://www.salon.com/2013/08/06/scienti
"Salon." Saloncom RSS. N.p., n.d. Web. 14 Mar. 2014. <http://www.salon.com/2013/08/06/scienti
Skills Beyond Numbers Chapter 16
Ice Cream Express
Male or Female ______________
Age__________
Income Level____________
Likes___________________________________
Dislikes________________________________
Favorite Ice Cream__________________________________
The incentives that I will offer to prompt customers to participate would be if they fill out the survey they will get a discount off of their ice cream the next time they come!
Communicating Accounting Chapter 16
Hello
I have purchased grain on account from the local feed store for $85 plus 6% sales tax, totaling $90.10. This was while I was at the equestrian competition last weekend.
Thanks
Sarah
"Feed Tags, Food Labels and Tunnel Vision." Pattis Naturally Unbridled Blog. N.p., n.d. Web. 14 Mar. 2014. <http://naturallyunbridled.com/blog/feed-tags-food-packages-and-tunnel-vision/>.
I have purchased grain on account from the local feed store for $85 plus 6% sales tax, totaling $90.10. This was while I was at the equestrian competition last weekend.
Thanks
Sarah
"Feed Tags, Food Labels and Tunnel Vision." Pattis Naturally Unbridled Blog. N.p., n.d. Web. 14 Mar. 2014. <http://naturallyunbridled.com/blog/feed-tags-food-packages-and-tunnel-vision/>.
A Matter of Ethics Chapter 16
1. The ethical issues are that he is working for a second company and the company is his first company's enemy. By him telling you this information, you now have the weight to carry to keep it a secret. Bob may also be taking your company's accounting information.
2. The alternatives are to just let it go and let Bob work for both companies, tell Bob to tell his boss about working for the other company or to tell the boss because you don't know if Bob is taking your company's accounting information.
3. The affected parties are you, Bob, your boss and both companies.
4. The alternatives could help or hurt the affected parties by having the accounting information be shared, or by having someone who works for your competition.
5. I would tell my boss because I would not want to be accused of money missing or have anything to do with what Bob might be doing to help the other company.
"One Comment." Source The Station. N.p., n.d. Web. 14 Mar. 2014. <http://sourcethestation.com/idea/second-hand-furniture-store/>.
2. The alternatives are to just let it go and let Bob work for both companies, tell Bob to tell his boss about working for the other company or to tell the boss because you don't know if Bob is taking your company's accounting information.
3. The affected parties are you, Bob, your boss and both companies.
4. The alternatives could help or hurt the affected parties by having the accounting information be shared, or by having someone who works for your competition.
5. I would tell my boss because I would not want to be accused of money missing or have anything to do with what Bob might be doing to help the other company.
"One Comment." Source The Station. N.p., n.d. Web. 14 Mar. 2014. <http://sourcethestation.com/idea/second-hand-furniture-store/>.
Case Study Chapter 16
1. Springdale Movie Theater is planning on expanding the concession area one and a half times its current size to offer a wider variety of foods.
Total Sales in Years 1-3: $20,180,000
Year 1- Ticket Sales: 23.8% Concession Sales: 8.19%
Year 2- Ticket Sales: 25.27% Concession Sales: 7.93%
Year 3- Ticket Sales: 26.76% Concession Sales: 7.33%
2. They will need an increase of 33%.
"Secrets That The Fitness & Diet Industry Don't Want You To Know." 3 Tips to Smart Snacking at an East Bay Movie Theatre. N.p., n.d. Web. 14 Mar. 2014. <http://www.eastbaytrainer.com/east-bay-health-clubs-fitness-industry-secrets-blog/bid/39889/3-Tips-to-Smart-Snacking-at-an-East-Bay-Movie-Theatre>.
Total Sales in Years 1-3: $20,180,000
Year 1- Ticket Sales: 23.8% Concession Sales: 8.19%
Year 2- Ticket Sales: 25.27% Concession Sales: 7.93%
Year 3- Ticket Sales: 26.76% Concession Sales: 7.33%
2. They will need an increase of 33%.
"Secrets That The Fitness & Diet Industry Don't Want You To Know." 3 Tips to Smart Snacking at an East Bay Movie Theatre. N.p., n.d. Web. 14 Mar. 2014. <http://www.eastbaytrainer.com/east-bay-health-clubs-fitness-industry-secrets-blog/bid/39889/3-Tips-to-Smart-Snacking-at-an-East-Bay-Movie-Theatre>.
Thursday, March 6, 2014
Critical Thinking Chapter 16
1. Special journals have amount columns that are used to record debits and credits to specific general ledger accounts. The purpose of a special journal is to simplify the journalizing and posting process.
2. Sales journal is a special journal used to record sales of merchandise on account. A cash receipts journal is a special journal used to record all cash receipt transactions.
3. To prove the Accounts Receivable Subsidiary Ledger I would prepare a schedule of accounts receivable that lists each charge customer, the balance in the customers account, and the total amount due from all customers.
4. A receipt of cash from a charge customer will decrease the amount owed by the customer in the Accounts Receivable Credit column, while a receipt of cash at the time of merchandise sale is entered in the journal Sales Credit column and the Cash In Bank Debit column.
5. The errors is that the schedule of accounts shows the amount due while accounts receivable shows that they have actually paid so far.
6. Maintaining special journals will keep all of your data in an organized and easy to find fashion.
"Special Journals." Special Journals. N.p., n.d. Web. 14 Mar. 2014. <http://www.cliffsnotes.com/more-subjects/accounting/accounting-principles-i/subsidiary-ledgers-and-special-journals/special-journals>.
2. Sales journal is a special journal used to record sales of merchandise on account. A cash receipts journal is a special journal used to record all cash receipt transactions.
3. To prove the Accounts Receivable Subsidiary Ledger I would prepare a schedule of accounts receivable that lists each charge customer, the balance in the customers account, and the total amount due from all customers.
4. A receipt of cash from a charge customer will decrease the amount owed by the customer in the Accounts Receivable Credit column, while a receipt of cash at the time of merchandise sale is entered in the journal Sales Credit column and the Cash In Bank Debit column.
5. The errors is that the schedule of accounts shows the amount due while accounts receivable shows that they have actually paid so far.
6. Maintaining special journals will keep all of your data in an organized and easy to find fashion.
"Special Journals." Special Journals. N.p., n.d. Web. 14 Mar. 2014. <http://www.cliffsnotes.com/more-subjects/accounting/accounting-principles-i/subsidiary-ledgers-and-special-journals/special-journals>.
Tuesday, March 4, 2014
Making it Personal Chapter 15
The bank would ask me of previous history of loans or credit history. In return, I would ask if the interest rates are fixed or if they can differ at different times. I would ask the bank on the history on their loans as well because if they have a low percentage of loans taken out of their bank, then that might be an indicator as to what I should do there. If they have a low percentage it might mean that their rates are not as well as others or that the bank is not trustworthy.
"Funding Capital Improvements Through a Bank Loan « Santa Fe Real Estate."Daily Rosetta. N.p., n.d. Web. 14 Mar. 2014. <http://www.dailyrosetta.com/funding-capital-improvements-through-a-bank-loan-santa-fe-real-estate/18140.html>.
"Funding Capital Improvements Through a Bank Loan « Santa Fe Real Estate."Daily Rosetta. N.p., n.d. Web. 14 Mar. 2014. <http://www.dailyrosetta.com/funding-capital-improvements-through-a-bank-loan-santa-fe-real-estate/18140.html>.
International Accounting Chapter 15
E-procurement system would be helpful to the company in a few different ways. One way would be that since the purchases and sales go through the internet, the company would take less time to call orders over the phone or mailing them between the two plants. Also since an e-procurement system is electronic, transactions would go faster and more efficiently.
Skills Beyond Numbers Chapter 15
WalkyDog Bike Leash- $49.95
Cyclone Gel Cycling Gloves- $27.99
Kids Bike Trailer- $289.99
Traveler Bag- $69.00
Mount Racks- $89.95
Sport Road Bike Pedals- $74.91
Repair stands- $149.99
GPS Computer Censored- $105.99
Windstopper Balaclava- $39.99
One Person Bicycling Tent- $212.49
Monday, March 3, 2014
Communicating Accounting Chapter 15
In order to make sure that invoices are paid on time, I will employ the following plan;
I will use a tickler file to keep each invoice in order depending on the day of the month. For the tickler file I will mark the day it was put in and I will mark the day in which the discount is due. This way I will know when to send the payment and I will always be on time.
"Tickler File - Why and how to setup and use a tickler file system." Tickler File - Why and how to setup and use a tickler file system. N.p., n.d. Web. 14 Mar. 2014. <http://www.free-time-management-tips.com/tickler-file.html>.
I will use a tickler file to keep each invoice in order depending on the day of the month. For the tickler file I will mark the day it was put in and I will mark the day in which the discount is due. This way I will know when to send the payment and I will always be on time.
"Tickler File - Why and how to setup and use a tickler file system." Tickler File - Why and how to setup and use a tickler file system. N.p., n.d. Web. 14 Mar. 2014. <http://www.free-time-management-tips.com/tickler-file.html>.
A Matter of Ethics Chapter 15
1. The ethical issues are that they are trying to bribe you into buying products from their company and they will reward you for it.
2. The alternatives would be to go with the other company or ask the company offering the tickets to trade them for cheaper prices or free shipping.
3. The affected parties are you because you would receive the tickets and it is your decision whether or not to go with this company, the company trying to bribe you and the other company trying to gain your business.
4. The alternatives would affect the business bribing me because they would either not get my business or they would have to lose money, it would affect the other company because they would gain your business, and it would affect you by making the decision of which company to go for.
5. I would ask the company if they would trade the sports tickets into discounts and if they did not and persisted on the tickets then I would go with the other company.
"INNOVABEATALL.COM – media news and reviews." INNOVABEATALLCOM media news and reviews. N.p., n.d. Web. 14 Mar. 2014. <http://innovabeatall.com/cheap-sports-tickets-getting-the-function-tickets-to-get-cheap-prices/>.
2. The alternatives would be to go with the other company or ask the company offering the tickets to trade them for cheaper prices or free shipping.
3. The affected parties are you because you would receive the tickets and it is your decision whether or not to go with this company, the company trying to bribe you and the other company trying to gain your business.
4. The alternatives would affect the business bribing me because they would either not get my business or they would have to lose money, it would affect the other company because they would gain your business, and it would affect you by making the decision of which company to go for.
5. I would ask the company if they would trade the sports tickets into discounts and if they did not and persisted on the tickets then I would go with the other company.
"INNOVABEATALL.COM – media news and reviews." INNOVABEATALLCOM media news and reviews. N.p., n.d. Web. 14 Mar. 2014. <http://innovabeatall.com/cheap-sports-tickets-getting-the-function-tickets-to-get-cheap-prices/>.
Critical Thinking Chapter 15
1. A purchases discount is when a supplier offers a charge customer a cash discount for early payment.
2. A purchase requisition is a written request to order a specified item or items. A purchase order is a written offer to a supplier to buy specified items.
3. When the shipment arrived, I would unpack and check the contents against the quantities and items listed on the packing slip.
4. A purchases return occurs when a business returns merchandise to the supplier for full credit. A purchases allowance occurs when a business keeps less than satisfactory merchandise and pays a reduced price.
5. The importance of using a purchase requisition, a purchase order, a packing slip, and a processing stamp in the purchasing process of a business so that of the information needed can be found and nothing can be lost, all information will be able to be found in one place.
6. The subsidiary ledger is useful for keeping all of a clients accounting information in one area. It arranges the data in numerical orders. The ledger also keeps the accounts payable data on one form for each client, making the paperwork easier.
"Purchase Request Form - Excel - Excel."Docstoc.com. N.p., n.d. Web. 14 Mar. 2014. <http://www.docstoc.com/docs/60938152/Purchase-Request-Form---Excel---Excel>.
2. A purchase requisition is a written request to order a specified item or items. A purchase order is a written offer to a supplier to buy specified items.
3. When the shipment arrived, I would unpack and check the contents against the quantities and items listed on the packing slip.
4. A purchases return occurs when a business returns merchandise to the supplier for full credit. A purchases allowance occurs when a business keeps less than satisfactory merchandise and pays a reduced price.
5. The importance of using a purchase requisition, a purchase order, a packing slip, and a processing stamp in the purchasing process of a business so that of the information needed can be found and nothing can be lost, all information will be able to be found in one place.
6. The subsidiary ledger is useful for keeping all of a clients accounting information in one area. It arranges the data in numerical orders. The ledger also keeps the accounts payable data on one form for each client, making the paperwork easier.
"Purchase Request Form - Excel - Excel."Docstoc.com. N.p., n.d. Web. 14 Mar. 2014. <http://www.docstoc.com/docs/60938152/Purchase-Request-Form---Excel---Excel>.
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