Goods/Stock purchased or sold being returned is quite a common practice in business. This may be on account of a number of reasons like defects in goods‚ quality not matching the requirement for which the buyer purchased it‚ the buyer not needing the stock‚ etc. This happens both in case of goods purchased as well as goods sold by the organisation. Where the goods sold are being returned we call it "Sales Returns" and where goods purchased are being returned we call it "Purchase Returns"
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Accounting Assignment -1 Question1: What is Whole Foods Market’s strategy for success in the marketplace? Does the company rely primarily on a customer intimacy‚ operational excellence‚ or product leadership customer value proposition? What evidence supports your conclusion? Answer1: Whole Foods Market’s strategy for success in the marketplace seems to be product leadership. Evidence of this can be seen throughout the documents. The first boldface heading in the company’s Declaration of Interdependence
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outside. Its annual requirement is 25000 units. An outsider vendor is prepared to supply fans for Rs 285 each. In addition‚ ABC Ltd will have to incur costs of Rs 1.50 per unit for freight and Rs 10‚000 per year for quality inspection‚ storing etc of the product. {25 Marks } In the most recent year ABC Ltd. Produced 25000 fans at the following total cost : Material Labour Supervision & other indirect labour Power and Light Depreciation Factory Rent Supplies Rs. 50‚00‚000 Rs. 20‚00‚000 Rs
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Individual Assignment Introduction to Financial Accounting (ACC106) Mega Lawa Trading is a sole proprietorship business owned by Milah Mela. Transactions below are the business activities for the month of December 2013. Date Transaction Effects of Transaction Principles of Double Entry 1 Started a business with a cash at bank for RM 15‚000 and cash in hand for RM 10‚000 3 Purchased machinery on credit from Happy Machine Supplies amounted to RM 90‚000 4 Bought inventories
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Fixtures and fittings $000 $000 250 100 350 Current Assets Stock Debtors Cash Current Liabilities Creditors for supplies Accruals Bank 1540 820 3 2363 1210 192 203 1605 758 1108 25 910 Share capital – Ordinary shares Retained profits Loan accounts – Bracket Racket 104 69 173 1108 The company accountant resigned at the beginning of April 2002 and proper records were not kept for the six-month period 1 April to 30 September 2002. The following information is available for that six-month period
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The economic growth of Thailand is mostly sustained by exports. However‚ recently a political crisis over several months continues to make its local consumption and investment slump and even curbs economic growth. That is to say‚ political situation plays an important role in economic growth which is mostly estimated with GDP. The National Economic and Social Development Board said the second quarter gross domestic product is 4.9%‚ year to year percentage change‚ slowing from 6.1% rate in the
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Module/Week 1 Discussion Board Patricia A. Springer Liberty University Organizational Design and Structure BUSI610 Dr. Johnny Maddox August 19‚ 2013 Module/Week 1 Discussion Board Q: Why is shared information so important in a learning organization in comparison to an efficient performance organization? A: Whenever you share information it promotes collaboration and communication between specific groups. It helps identify problems and solve particular issues within an organization.
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concern. Definition of Capital Budgeting:- Prof I.M.PANDEY Defines Capital Budgeting as the firms decision to invest its current funds most efficiently in long term activities in anticipation of an expected flow of future benefits over a series of years. Charles T Horngren Defines Capital Budgeting is long term planning for making and financing proposed capital outlays. Features of Capital Budgeting:- 1. The exchange of current funds for future benefits 2. Funds are invested in long term assets
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markets 5. Slow to innovate | Opportunities | Threats | 1. Cloud based services 2. Mobile advertising 3. Mobile device industry 4. Growth through acquisitions | 1. Intense competition in software products 2. Changing consumer needs and habits 3. Open source projects 4. Potential lawsuits | Strengths 1. Brand loyalty. Over the years‚ Microsoft has been the leading OS and software provider‚ which resulted in more than 90% market share for PC OS. Most of us grew up using its
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it will be recorded in the purchase journal‚ once it has been certified as a valid invoice. After the journal entries‚ the next step is to post the journal entries into account. Ledger Account also known as “T” Account and Account. Ledger accounts categorize these changes or debits and credits into specific accounts‚ so management can have useful information for budgeting and
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