« previous next »

Author Question: J. Smith purchases merchandise from Hi-View Industries for 25,250 on account. Upon inspection of the ... (Read 62 times)

Metfan725

  • Hero Member
  • *****
  • Posts: 552
on: Jul 6, 2018
J. Smith purchases merchandise from Hi-View Industries for 25,250 on account. Upon inspection of the merchandise received, J. Smith discovers damaged goods in the amount of 1,000 and requests to return the damaged merchandise to Hi-View Industries. What source document would Hi-View industries use for the journal entry to process this return?
 a. Debit Memorandum
   b. Credit Memorandum
   c. Purchase Memorandum
   d. Return Memorandum

Question 2

General purpose external financial reports for state and local government entities should include
 
  a. Government-wide financial statements
  b. Management's discussion and analysis.
  c. Fund financial statements.
  d. Note disclosures.
  e. All of the above should be included in general purpose external financial reports.
  f. Items a and c only.


morganmarie791

  • Sr. Member
  • ****
  • Posts: 336
Reply #1 on: Jul 6, 2018
Answer to Question 1

b

Answer to Question 2

E


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

The toxic levels for lithium carbonate are close to the therapeutic levels. Signs of toxicity include fine hand tremor, polyuria, mild thirst, nausea, general discomfort, diarrhea, vomiting, drowsiness, muscular weakness, lack of coordination, ataxia, giddiness, tinnitus, and blurred vision.

Did you know?

According to the National Institute of Environmental Health Sciences, lung disease is the third leading killer in the United States, responsible for one in seven deaths. It is the leading cause of death among infants under the age of one year.

Did you know?

According to animal studies, the typical American diet is damaging to the liver and may result in allergies, low energy, digestive problems, and a lack of ability to detoxify harmful substances.

Did you know?

People with high total cholesterol have about two times the risk for heart disease as people with ideal levels.

Did you know?

To combat osteoporosis, changes in lifestyle and diet are recommended. At-risk patients should include 1,200 to 1,500 mg of calcium daily either via dietary means or with supplements.

Aerial view of a blue whale showing both pectoral fins Aerial view of a blue whale showing both pectoral fins
Midsagittal or median plane along with a sagittal view of the head. Midsagittal or median plane along with a sagittal view of the head.
A View of the Left Side of the Brain A View of the Left Side of the Brain
Client’s view with visual field loss Client’s view with visual field loss
Video: Cataract

For a complete list of videos, visit our video library