Homework Answers
*Option(B). ii,iii,i is the correct answer.
*When selling services on account, There are 3 Common steps:
- Step 1- Create Invoices;
- Step 2 - Receive Payment;
- Step 3- Bank Deposit.
*Step1- Create the invoices to customers . The Sale invoice, bill is a commercial document issued by a seller to a buyer,relating to a sale transaction.
*Step 2- Receive Payment - When Receiving payments when we make a sale enables our business to guarantee and collect fund from the customers on account;
*Step 3- Bank Deposit- After receiving payment from customer. The company should deposit the amount in the bank in the periodical basis.
-----------------------------------------------
If you have any queries/doubts,Immediately drop your messages in
the comment box !!!! I will help you...
Thanks!!!
Add Answer to:
When selling services to customers on account, there are three common steps. i. Bank deposit ii....
7. Money market securities have which of the following characteristics? I. long maturities II. low default risk III. high degree of liquidity IV. low rates of return a) I and III only b) II and I...
7. Money market securities have which of the following characteristics? I. long maturities II. low default risk III. high degree of liquidity IV. low rates of return a) I and III only b) II and IIl only c II, III, and IV only d) I, II, III, and IV 8. A lockbox system: a) entails the use of a bank which is centrally located to collect payments on a nationwide basis. b) is designed to deposit a customer's check into...
Services, Inc. a firm who provides pest control services to customers. Identify the appropriate account to...
Services, Inc. a firm who provides pest control services to customers. Identify the appropriate account to debit and credit for each of the following transactions April 1. Vamonos Pest Services, Inc. paid $2,000 rent for the month of April. April 1st Select $2.000 Select $2.000 April 1. Vamonos Pest Services, Inc. provided pest control services to customers for $12.000. April 1st Select) $12.000 Select) $12,000 April 3 - Vamonos Pest Services, Inc. purchased supplies on account for $3.200. April 3rd...
When preparing a bank deposit which of the following is a best practice? Select one: a....
When preparing a bank deposit which of the following is a best practice? Select one: a. Group all customer payments with the same payment method together in one deposit b. Group customer payments with the payment method of checks and credit card payments in one deposit and group all the cash payment methods in a separate deposit c. Deposit all customer payments one at a time using the Bank Deposit form d. Leave payments in the undeposited funds account To...
20) The Customers List contains information about: A) Customer addresses, contacts and phone numbers B) The...
20) The Customers List contains information about: A) Customer addresses, contacts and phone numbers B) The quantity of non-inventory parts on hand C) Vendors from whom the company buys products and services D) The credit rating of the vendors Wrede viCES 25) To record receiving a bill for services to be paid at a later time, use the following: A) Invoice > Enter Bills > Pay Bills B) Purchase Order > Receive Payment > Deposit C) Invoice > Receive Payment...
Which do you prefer: a bank account that pays 5.7% per year (EAR) for three years...
Which do you prefer: a bank account that pays 5.7% per year (EAR) for three years or a. An account that pays 2.6 % every six months for three years? b. An account that pays 7.2% every 18 months for three years? c. An account that pays 0.28% per month for three years? (Note: Compare your current bank EAR with each of the three alternative accounts. Be careful not to round any intermediate steps less than six decimal places.) ...
Use the following three statements to answer this question: I. When and we know the return...
Use the following three statements to answer this question: I. When and we know the return on Security A, we can predict the return on Security B with certainty. II. Generally, security returns display positive correlations with one another but they are less than one, because all securities tend not to follow the movements of the overall market. III. Any value of correlation less than +1 provides a possibility of diversification. Select one: a. I is incorrect, II is correct,...
3.When an employee has chosen to deposit paycheques directly to his/her bank account – Select one:...
3.When an employee has chosen to deposit paycheques directly to his/her bank account – Select one: a. you cannot enter the paycheque in the payroll cheque run journal b. you can click direct deposit in the journal to issue a regular cheque c. you cannot issue a cheque directly to the employee unless you change the employee ledger settings d. you must add the bank account number to the payroll journal for the employee 4.Which of the following are not...
Boston high students want to open their own shop to sell things for their customers. For...
Boston high students want to open their own shop to sell things for their customers. For instance, they can open a business of their own that sell things such as electronic devices ,drones ,books, clothing, or anything. Therefore they must use a customized program for their shops. The program is like stocks inventory and sales systems combined into one system. For example to develop Management Retailer System (Stock Inventory and Customer Sales). The program must be able to calculate and...
1) Funds for loans to borrowers can be created in the U.S. economy by: I. Depository...
1) Funds for loans to borrowers can be created in the U.S. economy by: I. Depository intermediaries lending more money than they receive on deposit II. Depository intermediaries increasing the velocity of circulation of the existing money supply III. Non-depository intermediaries increasing the velocity of circulation of the existing money supply Select one: A. I and II only B. I and III only C. II and III only D. I, II, and III 2) Which of the following can increase...
Assume that GBI is currently working with a manual system. The company uses the following 26...
Assume that GBI is currently working with a manual system. The company uses the following 26 steps when they sell standard goods to the customers: A customer sends a purchase order for off-road bicycles to a GBI employee. A GBI employee compares the customer’s purchase order to determine if the customer’s master data is in the system and is correct. If the customer master data is not in the system or is incorrect, then the master sales and distribution data...
7. Money market securities have which of the following characteristics? I. long maturities II. low default risk III. high degree of liquidity IV. low rates of return a) I and III only b) II and IIl only c II, III, and IV only d) I, II, III, and IV 8. A lockbox system: a) entails the use of a bank which is centrally located to collect payments on a nationwide basis. b) is designed to deposit a customer's check into...
Services, Inc. a firm who provides pest control services to customers. Identify the appropriate account to debit and credit for each of the following transactions April 1. Vamonos Pest Services, Inc. paid $2,000 rent for the month of April. April 1st Select $2.000 Select $2.000 April 1. Vamonos Pest Services, Inc. provided pest control services to customers for $12.000. April 1st Select) $12.000 Select) $12,000 April 3 - Vamonos Pest Services, Inc. purchased supplies on account for $3.200. April 3rd...
20) The Customers List contains information about: A) Customer addresses, contacts and phone numbers B) The quantity of non-inventory parts on hand C) Vendors from whom the company buys products and services D) The credit rating of the vendors Wrede viCES 25) To record receiving a bill for services to be paid at a later time, use the following: A) Invoice > Enter Bills > Pay Bills B) Purchase Order > Receive Payment > Deposit C) Invoice > Receive Payment...
Most questions answered within 3 hours.
-
Assume that the situation can be expressed as a linear cost
function. Find the cost function....
asked 1 hour ago -
(Sort ArrayList) Write the following method that sorts an
ArrayList: public static > void sort(ArrayList list)...
asked 2 hours ago -
2) A 9 volt battery is connected to a parallel plate capacitor
with an initial capacitance...
asked 1 hour ago -
Prince Equipment has to decide whether to obtain $1,000,000 of
financing by: (1) selling common stock...
asked 2 hours ago -
The terms electrical and electronic have similar but
different meanings which of the following statement is...
asked 2 hours ago -
You wish to test the claim that the mean GPA of night students
is than 2.5...
asked 3 hours ago -
A soft drink machine outputs a mean of 25 ounces per cup. The
machine's output is...
asked 4 hours ago -
Ross Co., Westerfield, Inc., and Jordan Company announced a new
agreement to market their respective products...
asked 3 hours ago -
What is the distance run by a runner 50m/hr and
60m/hr?
asked 4 hours ago -
Write a descendant selector rule that affects the <em>
element that is contained within the
<p>...
asked 5 hours ago -
The management of an electrical manufacturing plant determined
that the mean life of their 10 watt...
asked 5 hours ago -
On January 1, Year 1, Prairie Enterprises purchased a parcel of
land for $13,100 cash. At...
asked 5 hours ago