Your goals for this “merchandising” chapter are to learn about:
Merchandising businesses and related sales recognition issues.
Purchase recognition issues for the merchandising business.
Alternative inventory system: The perpetual method.
Enhancements of the income statement.
The control structure.
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Andre Sampri Sporting Goods Store purchases sporing goods merchandise on account from various vendors. Below is an invoice from Tennis Wear World.
Prepare Andre Sampri’s journal entries for each of the following transactions, assuming use of a periodic inventory system and the “gross method” of recording:
To record the invoice on May 15.
To record the return of the Summer Fun collection on May 17.
To record the payment of the balance due if payment occurred on May 20.
To record the payment of the balance due if payment occurred on May 30....
Many of us wish to create our own video games. For some, gaming is a hobby, and
for others it is something fun to participate in casually. But for the rest of us,
gaming and the dream of making our own games is more like a passion. Chances
are, if you’ve purchased this book, you are looking to turn your desire and passion
into something you can play and share with others.
Bush posited Memex as “a device in which an individual stores all his books, records, and communications,
and which is mechanized so that it may be consulted with exceeding speed and flexibility. It is an enlarged
intimate supplement to his memory.” Memex was to be built into a desk with a keyboard, microphone, and
display surfaces. Its interface could copy photos or papers, or could be written on. However, “most of the
Memex contents are purchased on microfilm ready for insertion.
There is considerable debate concerning the relative merits of different transportation
modes. As previously mentioned, there is little debate concerning the value of basic
highway rehabilitation, and much of the U.S. highway system is now due for major
maintenance and repair, as indicated in Federal Highway Administration Conditions and
Performance Reports (FHWA 2006).
then appointed the Associate Administrator for Organization and Management, combining the various
Agency management functions, as Bob Seamans describes. But, well before that, with the initiation of the
Apollo program, there was the need to integrate the activities of the Centers and bring strong in-house
NASA people together into the newly established Office of Manned Space Flight. The need to identify a
strong leader was urgent.
Little-Bug Corp International publishes children’s books. Following are facts you need to prepare Little-Bug Corp’s August bank reconciliation:
Balance per company records at end of month $217,932.36
Bank service charge for the month 132.00
NSF check returned with bank statement 4,321.98
Note collected by the bank during the month 135,000.00
Outstanding checks at month end 94,660.71
Interest on note collected during the month 13,500.00
Balance per bank at end of month 432,671.97
Deposit in transit at month end 23,967.12...
Alpine Medical Corporation (AMC) accepts credit card payments from its patients. Following are the batched transactions for May 19.
1) Total charges on MoreMoney and Wind credit cards were $42,000. These cards are “bank cards” and AMC receives daily cash settlement directly to its bank account, net of service charges of 1.5%.
2) Total charges on EuropeanExpress cards were $6,000. This card is not a bank card, and settlement does not occur until approximately two weeks following the date of the transaction.
Jill Hansen owns Interior Designs, a furniture store. One of her most popular items is a leather recliner.
Following is the recliner inventory activity for August. The recliners on hand at August 1 had a unit cost of $280.
These explanations apply to terms as used in this policy procedure:
Agreements for the purpose of this policy, transactions involving purchase orders,
tenders, contracts, to provide goods, services and works, etc. For a short list, see
Capital Assets are assets of significant value which have a useful life of several
years, also referred to as fixed assets.
Capital expenditure: Payment of money to acquire capital assets, such as a
building or equipment.
This version was issued in January 2008. Its effective date is 1 July 2009. IAS 22 Business combinations was issued by the International Accounting Standards Committee in October 1998. It was a revision of IAS 22 Business Combinations (issued in December 1993), which replaced IAS 22 Accounting for Business Combinations (issued in November 1983).
338 Planning and Forecasting
to the difference between the sale price and Plant Supply’s basis in the building. If Morris purchased the molding company by merging or purchasing its assets for cash, then the capital gain to be taxed here may be minimal because it would consist only of the growth in value since this purchase plus any amount depreciated after the acquisition. If, however, Morris acquired the molding company through a purchase of stock, his basis would be the old company’s preacquisition basis, and the capital gain may be considerable.
In recent years automatic identiﬁcation procedures (Auto-ID) have become very popular in many service industries, purchasing and distribution logistics, industry, manufacturing companies and material ﬂow systems. Automatic identiﬁcation procedures exist to provide information about people, animals, goods and products in transit. The omnipresent barcode labels that triggered a revolution in identiﬁcation systems some considerable time ago, are being found to be inadequate in an increasing number of cases....
“Each of the following, if true, raises a consideration against the conclusion above, EXCEPT:” (Your task here is to identify the only answer choice that does NOT weaken the argument.)
How to Weaken an Argument
To understand how an argument by inference can be weakened, consider Argument 1 on page 319. Here it is again: Argument 1 Premise: More new Jupiter Motors automobiles were sold this year than any other brand. Premise: Jupiter Motors automobiles have the lowest sticker prices, which are the manufacturers’ suggested retail prices, of any new automobiles on the market.
Sales promotions can be seen as a service that provides encouragement to purchase a product or service by changing
the perceived value-for-money equation. In the past decade manufacturers and retailers have been gradually switching
from above the line mass media advertising to a variety of below the line sales promotions. Although sales promotions
take up a very large share of total marketing expenditure, they remain an area which has less strategic consideration or
attention than any other aspect of the promotion mix, especially in the international market arena.
A-priori market segmentation designates groups of customers who are similar in terms
of segmentation variable(s) that are known or believed in advance to be related to con-
sumption of a company’s product, for example, demographics, purchase volume or
geographic area. Segmentation variables are selected before analysis begins.
Most health care spending is for care provided by hospitals and physicians.
Health care spending encompasses a wide variety of health-related goods and
services, from hospital care and prescription drugs to dental services and medical
equipment purchases. Figure 7 illustrates spending on health by type of expense in
2010. Spending on hospital care and physician services ($1,329.5 billion combined)
makes up just over one-half of health care expenditures (51%). While spending on
prescription drugs ($259.
Academy of Marketing Science Review
As luxury is a subjective and multidimensional construct, a definition of the luxury concept should follow an integrative
understanding. For our purposes, we define luxury as the highest level of prestigious brands encompassing several
physical and psychological values. To explain consumers‘ behavior in relation to luxury brands, apart from interpersonal
aspects like snobbery and conspicuousness, personal aspects such as hedonist and perfectionist motives as well as
situational conditions (e.g.
A review of the literature on wine marketing reveals that there are both explicit and
implicit considerations involved in the purchase of wine. A study of the Northern Ireland
wine market, for example, found that respondents offered an array of responses when
asked why they preferred a particular wine (Keown, 1995). The majority of these
responses were related to “taste”, “quality”, “palatably” and “value for money”. Other
replies related to intrinsic qualities of the wine such as “dry”, “fruity”, “sweet”, “full-bodied”