BYP 7-1 (continued) Cash Payments Journal CP1 Date Account Debited Ref. Other Accounts Dr. Accounts Payable Dr. Office Supplies Dr. Discount Received Cr. Cash Cr. (a) & (e) General Journal G1 Date Account Titles and Explanations Ref. Debit Credit Jan. 9 18
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and delivery. Product bundle pricing: combines several products at a reduce price. Price-Adjustments Strategies Discount and allowance pricing: reduces prices to reward customer responses such as paying early or promoting the product. * Discounts: A straight reduction in price on purchases during a stated period of time or of larger quantities. * Allowances: Promotional money paid by manufacturers to retailers in return for an agreement to
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include; discounts and deals‚ increasing industry visibility‚ priced-based consumer sales promotion‚ and the attention-getting consumer sales promotions (2008). . DISCOUNTS AND DEALS Price breaks are one type of trade promotion. The type of price breaks I am referring to are the breaks that permit a manufacturer to reduce a channel partner’s expenses through different sales promotions that discount its products. One example of this would be when a firm offers a merchandising allowance‚ which
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strong because Ross Stores carries a large inventory that sells quickly. Ross’ inventory is 64.69% larger than Abercrombie & Fitch’s. (ROST‚2013; ANF 2013). Ross keeps a large inventory on hand at their warehouses to take advantage of aggressive discounts offered by manufacturers. (ROST‚ 2013) Average daily sales are 53.6% higher than Abercrombie’s. (ROST‚2013; ANF 2013) Ross Days Inventory Outstanding is 62.95 days compared to Abercrombie’s 91.99 days. (ROST‚2013; ANF 2013) Abercrombie & Fitch
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P3 Outline the differences between gross and net profit If a business wants to succeed they have to make profit. Because if they do not make any sort of profit then their business will not succeed. If Hannah wants to succeed in her business then she must make profit in order to survive in the outside market and if she doesn’t make that much profit then her business is in trouble she can go in debt or even lose his business as it won’t exist anymore. So Hannah needs to know about the two main types
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Price Elasticity of Demand Factors Affecting Price sensitivity: have to think about price in a context The unique value effect The substitute awareness affect Price comparison effect: made us more price sensitive Business expenditure effect: made us less price sensitive End-benefit effect: i.e. package travel bundled in less price sensitive The total expenditure effect: the bigger the total expense the more aware The shared cost effect: tend to be less price sensitive when sharing the cost
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Michellee Marie B. Chavez 2004-39460 BM 220 - Management Accounting 1) BROWNING MANUFACTURING COMPANY T-Accounts Cash Accounts Receivable Notes Payable 2‚604‚000.00 144‚000.00 2‚562‚000.00 49‚200.00 288‚840.00 118‚440.00 78‚000.00 311‚760.00 19‚200.00 264‚000.00 264‚000.00 492‚000.00 2‚604‚000.00 552‚840.00 198‚000.00 2‚873‚760.00 2‚672‚400.00 49‚200.00 201‚360
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Receivables are valued and reported in the balance sheet at their gross amount less any sales returns and allowances and less any cash discounts. FALSE 78. The allowance method of accounting for bad debts violates the matching principle. FALSE 79. Uncollectible accounts must be estimated because it is not possible to know which accounts will not be collected. TRUE 80. If a company uses the allowance method to account for uncollectible accounts‚ the entry to write off an uncollectible account only
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Students must be aware of the two different methods of dealing with inflation and when they should be used. The money method is where inflation is included in both the cash flow forecast and the discount rate used while the real method is where inflation is ignored in both the cash flow forecast and the discount rate. The money method should be used as soon as a question has cash
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CHAPTER 5 REVENUES AND MONETARY ASSETS Chapter 5 is about Revenue Recognition and Monetary Assets. There are different criteria used in recognizing revenue depending on the standards the company is using. In general‚ revenues should be recognized when an entity has significantly performed what is required in the agreement‚ full ownership of goods is transferred‚ and services are rendered. The Securities and Exchange Commission (SEC) have identified fraudulent cases where the companies
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