Net and Gross Method of Recording Purchases Purchase Discounts It is a contra-expense account which is an offer from the supplier to the purchaser‚ to reduce the selling price if the payment is made within a certain period of time. It is subtracted from the purchases on the income statement. Sellers frequently call them sales discounts. Methods of Recording In accounting‚ gross method and net method are used to record these kinds of transactions. Net Recording Method Under the net method‚ purchase
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following questions making sure you SHOW YOUR WORK. 1. A hardware store bought a gross (12 dozen) of hammers‚ paying $602.40 for the total order. The retailer estimated operating expenses for this product to be 35% of sales‚ and wanted a net profit of 5% of sales. The retailer expected no markdowns. What retail selling price should be set for each hammer? [Hint: The way to handle this problem is to say that the Gross Profit Margin has to cover the 35% of expenses applicable to the product plus the
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LEADERSHIP OF TUN DR MAHATHIR BIN MOHAMAD (1925-PRESENT) Ref: A. MAFSC DIS 0143 Ex 1-2‚ Ex PANGLIMA SILAM General Instruction. B. MAF JP 0.01 – Service Writing. INTRODUCTION 1. Tun Mahathir bin Mohamad is the fourth Prime Minister of Malaysia. He was the longest in tenure ruling this country‚ since 16 Jul 19811 until 31 Oct 2003. Tun Dr Mahathir also known as the Father of Modernisation for Malaysia. Since he ruled the government‚ he had performed so many developments for Malaysia
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The Book Thief; the book is placed in Nazi Germany. Hans’ ability to avoid death has often left Hans’ depressed or feeling like “It should have been me” (Zusak 477). This state of mind leads him to make the decision to Shelter Max‚ who is the son of his Jewish friend‚ Erik‚ who saved his life during the war. Hans Hubermann is an uncommon person‚ one who will accept death‚ although he has miraculously avoided death three times in the book. Hans’ ability to survive and his particular readiness for
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similarities between The Han Dynasty of China‚ and the Aztecs. They have the same general characteristics of an ancient civilization‚ and even more so‚ since both were golden ages. Both the Han and the Aztecs had organized social structure. The Aztecs’ social structure placed the aristocratic class of nobles at the top‚ followed by priests with artisans and merchants enjoying prestige as well. Peasants and slaves were the lowest in terms of social hierarchy. The Han dynasty completely redefined
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Bhutan is internationally known for the philosophy of Gross National Happiness (GNH). GNH has become a multidimensional development approach supported by the foundations of four pillars which include Sustainable and Equitable Socio-Economic Development; Conservation of Environment; Preservation and Promotion of Culture and Tradition; and Good Governance. Bhutan is unique in paving the way to measure development progress in terms of GNH rather than GDP (Dixon. F‚ 2004)‚ which is not without challenges
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Evaluation of Little Hans (Freud‚ 1909) in terms of the research method used The aim of the study conducted by Freud was to report the findings of the treatment of a five-year-old boy for his phobia or horses. Freud used a case study method to investigate Little Hans’ phobia. However‚ the case study was carried out not by Freud himself‚ but by the boy’s father who was a friend and supporter of Freud. It was said that Freud had only actually met Little Hans once. The father reported to Freud
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Athens and Han China were two great civilizations that were successful. Both Athens and Han China had different philosophers that influenced their civilization. Though Athens and Han China were almost five-hundred years and a continent apart‚ they both made similar successful communities with their citizens‚ government‚ geography‚ and lifestyle. Even though Athens and Han Chinas’ population is very different they both managed the population really well. “Athens’ population was a mere 315‚000 and
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deconstruction in the Han culture and the Mongolian culture this study will elucidate cultural diversity contributes to the design atmosphere‚ adding a unique appreciation of diversity. To demonstrating how the Han culture and the Mongolian culture occupy a unique place and how both are shrinking in the past and contemporary time respectively‚ this research will initially ascertain the root of the Han culture and the Mongolian culture‚ which focalizes in design territory. The Han culture originates
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EVERYTHING! Thursday‚ October 31‚ 2013 7:38 PM Lecture 10/15 • Test one Review (Shoulder) ○ The scapula ○ ○ ○ The Humerus Review Page 1 ○ ○ Capitulum □ Where the fovea and the head of the radius articulate Radial fossa □ Head of the radius lies in full flexion Trochlea □ T notch articulates on the ulna Coronoid fossa □ Coronoid process lies in full flexion Lateral and medial supracondylar ridges □ Attachment site Extensor carpi
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