consider a recent purchase you made in a store. It could be a bottle of soda, a pack of gum, or a major purchase such as a TV or appliance. How was the product you purchased promoted in-store? Was it part of a separate display? Was there specific signage promoting the product? Did the in-store promotion influence your purchase

Q: returns some merchandise that had been purchased on account (accounts receivable), NetSolutions will…

A: when ever the goods are sold and purchased different type of document that are issued by the buyer…

Q: Describe the factors that a retailer should take into account while selecting a location for a…

A: The location of the shopping area is a strategic choice for any enterprise. As it affects the…

Q: Which document would be used to support the recording of  a sale on account?   Question 49 options:…

A: Invoices or bills are used to record the credit transactions related to purchases and sales.

Q: In the preparation of the worksheet of a merchandising business, the ending balance of the…

A: Merchandise inventory is the current assets, goods purchased or manufactured with the purpose of…

Q: If a company uses a multi-column purchases journal, which of the following possibleheadings for…

A: Solution Concept Multi column purchase journal is a journal used to record the credit purchase…

Q: In the expanded purchases journal, debits are made in which columns? choices:  Accounts Payable,…

A: Answer : Merchandise inventory ,office supplies ,and store supplies.

Q: What are the Source documents used in a merchandising business?

A: Merchandising business is the one in which the entity deals in with goods / products.

Q: Imagine you have taken a once-prized and valuable possession to a consignment store. You tell the…

A: A retail store that specialized in a particular product or service in the retail consumer market…

Q: Some business transactions purchase goods and services from the seller, on credit. The buyer of…

A: Purchase of Merchandise on Account - Purchases on Accounts means Inventory purchase without paying…

Q: For each of the following statements, fill in the blanks with the correct account names. A retailer…

A: Retailer is the person who deals in purchase and sale of merchandise. At the time of credit…

Q: From the following examples, select which one is a transaction. a. a seller receiving payment from a…

A: Introduction : In simple words, transaction refers to a commercial activity in which two independent…

Q: Which of the following journal entries is recording merchandise inventory leaving the warehouse on a…

A: A seller can sell goods to its customer on cash and credit basis. if its is a Cash sale  then there…

Q: When goods are sold on credit the account of a customer is called : Select one: a. Purchases Return…

A: Lets start one by one to understand the all the terms, Purchase return:- It is a type of transaction…

Q: Which document helps to ensure that the receiving clerks actually count the number of goods…

A: Option b is the answer

Q: What effects on a retail store's accounting equation occur when merchandise returned by customers is…

A: Introduction:- The following Accounting Equation used for preparation of balance sheet as follows…

Q: When a customer (buyer) returns merchandise purchased on credit,what is to be done?

A: Sales Returns: It is the merchandise returned by a buyer to a seller due to many reasons like excess…

Q: For each of the following processes, state whether OLTP or OLAP is appropriate and why.a. An order…

A: Meaning OLTP & OLAP OLAP means Online Analytical Processsing and OLTP means Online Transaction…

Q: The following list includes activities that are performed in a clothing store. Classify each…

A:

Q: Demonstrate, using practical example how to prepare accounts from the Sales day book and Sales…

A: The sales day book is a manually-maintained ledger in which is recorded the key detailed information…

Q: The functions of and documents generated by which of the below departments determine when a…

A: Lets understand the basics. In organization, there are various department which are inter connected…

Q: When a proprietor takes goods for own use, we will record it as:…

A: Every transaction of business is recorded as journal entry in the books.

Q: The home office ships merchandise to its branch above cost. What journal entry should the home…

A: The home office ships merchandise to its branch above cost. Following Journal entry shall me record…

Q: Three types of retail businesses are being compared: (a) jewelry store, (b) book store, and (c)…

A: The inventory turnover ratio is used to measure the rate at which a company’s inventory is purchased…

Q: Amex Stores should include which of the following items in its inventory at the statement of…

A: solution concept we should always consider the following points while valuing the inventory goods…

Q: Walmart receives discounts from suppliers because it purchases large volumes of merchandise. Is this…

A: Walmart is able to purchase a large volume of each goods or merchandise and the supplier provides a…

Q: Finished goods is inventory stocked to be ready for sales to customers, Select one: True False

A: Inventory is classified as: Raw material  work in process Finished goods

Q: Mr. Ameen use periodic inventory system makes the following journal entry in his business: Debit…

A: Under the periodic inventory system, cost if goods sold are calculated at the end of the period.…

Q: The entry to record the return of merchandise from a costumer would include a  credit to sales…

A: Given: To determine the entry to record the return of merchandise from a costumer that would include…

Q: For each of the following processes, state whether OLTP or OLAP is appropriate, and why. a. An…

A:

Q: Why should a business engaged in merchandising always try to negotiate with its vendors, the…

A: Inventory is the detailed list of items that are present on hand. It constitute of all the finished…

Q: The business rules that constitute the purchases system for the Safe Buy Grocery Stores chain are…

A: Concept: The account payable is mainly used in many industries that refers to the debts or payments…

Q: Why should you visit shops to buy fresh produce rather than purchasing it via online stores?

A: Purchasing through online stores: Due to digitalization use of technology and internet was increased…

Q: A bill or a statement issued by the seller to the buyer giving details of goods sold. a. chart of…

A: The seller issues a bill containing all the details about the sales to the buyer.

Q: When a customer returns merchandise previously purchased on credit, the entry for the seller to…

A: Journal entry:- Customer Ac Dr to Sales A/C

Q: When a store purchases merchandise, why are individual departments not allowed to directly deal with…

A: Internal control helps an organization to safeguard its objectives. It helps to reduce risk and…

Q: Which of the following businesses would most likely not report cost of goods sold on their income…

A: Cost of goods sold refers to that direct costs of the inventory the company incurred to produce the…

Q: Muscat Supplies LLC is trading wholesale and retail merchandise business in Sohar. The business have…

A: Suppliers sells the goods to Muscat Supplies LLC. So it is purchases for Muscat Supplies LLC.…

Q: Describe the data flow in the buying process that begins when the purchasing organization sends a…

A: The Answer:

Q: ssume that you are a retailer who carries hundreds of items in your store. Explain two (2) factors…

A: Inventory control is also known as stock control. Inventory control includes management of the…

Q: In which of the following scenario will the supplier be issuing a credit memo?   Granting of…

A: In the case of defective merchandise the buyer may return the goods and in lieu of that supplier…

Q: entory refers to the goods that a merchandising business has purchased with the main intention of…

A: One of the most common types of businesses with which we interact on a daily basis is a…

Q: ou are a merchandising company.  Please make a random list of accounts with their balances that you…

A: Merchandising company is that company which deals in purchase and sale of merchandise and this type…

Q: Describe the flow of data in the purchasing process that is initiated when the purchasing…

A: A data flow diagram is a flow of data that analyzes the beginning criteria and end results of a…

Q: If you are a jewelry store, what inventory system is applicable to you? How about for a hardware…

A: Perpetual is the inventory system that would most likely be used by a jewelry store. In the…

Q: When goods are received, the receiving clerk should match the good with_____?          A. The…

A: Under generally accepted accounting principles, Double entry accounting system has to be followed…

Q: When a seller receives payment from a customer who takes the discount for paying early, the journal…

A: When a  seller receives payment within discount period, cash account will be debited with accounts…

Q: Explain in detail different types of documentation that the business would expect to change hands in…

A: We’ll answer the first question since the exact one wasn’t specified. Please submit a new question…