True and False. When discount is received from vendors creditors, then it will be credited to Vendors
Question:
True and False. When discount is received from vendor’s creditors, then it will be credited to Vendor’s suspense account.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 0% (2 reviews)
Answered By
Morgan Njeri
Very Versatile especially in expressing Ideas in writings.
Passionate on my technical knowledge delivery.
Able to multitask and able to perform under pressure by handling multiple challenges that require time sensitive solution.
Writting articles and video editing.
Revise written materials to meet personal standards and satisfy clients demand.
Help Online Students with their course work.
4.90+
12+ Reviews
38+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
The Crazy Eddie fraud may appear smaller and gentler than the massive billion-dollar frauds exposed in recent times, such as Bernie Madoffs Ponzi scheme, frauds in the subprime mortgage market, the...
-
The U.S. Court of Appeals for the Fourth Circuit affirmed the lower court ruling in the case Public Employees Retirement Association of Colorado; Generic Trading of Philadelphia, LLC v. Deloitte...
-
1. I bumped into my friend Andy the other day, and the first thing his German shepherd did was rush up to me and sniff that spot about ten inches beneath my navel. When I visited Lucy at her home,...
-
Solve for y' y' = y = 71-x 3
-
Elliot sells some stock to his sister, Nancy, for $4,000. His basis in the stock is $6,000. Several years later, Nancy sells the stock for $7,000. What is the effect of the sales on Elliot and Nancy?...
-
A circular disk suspended by a thin wire attached to the center of one of its flat faces is twisted through an angle . Torsion in the wire tends to turn the disk back in the opposite direction (thus,...
-
Develop brief answers to each of the following questions: 1. Under what conditions would a company have both minority interest and goodwill in a consolidation? 2. Why must the financial statements of...
-
Jean Jones has opened Jones Consulting. Journalize the following transactions that occurred during January of the current year. Use the following journal pages: January 110, page 1, and January 1129,...
-
Suppose the market value of a firms equity is worth $100m and the market value of its debt is worth $50m. Also, assume equity beta and debt beta to be 1.2 and 0.3 respectively. Return on debt is 6%....
-
When shares of debentures are issued at a premium, ____________ A/c has to be credited with premium amount.
-
Swami Ltd. was formed with an authorised capital of 20,00,000, divided into equity shares of 10 each, to acquired the business of P&M, whose balance sheet on the date of acquisition was as follows:...
-
Dell enjoys many benefits from committing to JIT. Which is not a benefit of adopting JIT? a. lower inventory carrying costs b. more space available for production c. ability to respond more quickly...
-
Ant Financial's stock price dropped for $5 after paying a special dividend of $10. Assume capital gain tax rate is 20% and dividend tax rate is 50%. An investor buys the share right before the...
-
what ways can firms leverage strategic portfolio management techniques, dynamic resource allocation mechanisms, and risk-adjusted performance metrics to optimize their investment decisions, balance...
-
Give fifteen (15) risks/problems encountered by credit cooperatives on collection of loans/payments.
-
A farmer collects 2 containers of milk and sells them to an ice cream manufacturer for $20 each. The ice cream manufacturer creates 10 tubs of chocolate ice cream which it sells to a grocery store...
-
Alexa owns a condominium near Cocoa Beach in Florida. In 2023, she incurs the following expenses in connection with her condo: Insurance Mortgage interest Property taxes Repairs & maintenance...
-
Robbie James began a new business called RJ Graphics, located in Moncton. The following transactions resulted: A. Robbie invested $14,000 cash from her personal bank account in the graphics company....
-
Explain briefly what is meant by electronic data interchange (EDI). How does EDI affect a companys audit trail?
-
On 1st January, 2013, A Ltd. acquired 8,000 shares of 10 each of B Ltd. at 90,000. The respective Balance Sheets as on 31st December, 2015 are given below: I. EQUITY AND LIABILITIES (1)...
-
A company after the completion of a buy back of its shares A. Can not issue same kind of shares within one year B. Can not issue same kind of shares within 6 months C. Can issue same kind of shares...
-
Where a company purchases its own shares out of free reserve or securities premium, a sum should be transferred to Capital Redemption Reserve which should be A. Equal to the amount paid to the...
-
b . Using the Perpetual Method please calculate the Inventory and Cost of Goods Sold using FIFO, LIFO, and Weighted Average methods. i . Bought 8 , 0 0 0 units @ $ 6 ii . Sold 6 , 5 0 0 units iii....
-
Use the following to answer questions 6 - 1 2 ? The company has two classes of stock authorized: $ 1 0 0 , 0 0 par preferred and $ 0 . 5 0 par value common. As of the beginning of 2 0 x C , 1 , 0 0 0...
-
Her Company purchased 2 6 , 0 0 0 common shares ( 2 0 % ) of Him Inc. on January 1 , Year 4 , for $ 4 4 2 , 0 0 0 . Additional infor - mation on Him for the three years ending December 3 1 , Year 6 ,...
Study smarter with the SolutionInn App