« previous next »

Author Question: J. Smith purchases merchandise from Hi-View Industries for 25,250 on account. Upon inspection of the ... (Read 58 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?

Acetaminophen (Tylenol) in overdose can seriously damage the liver. It should never be taken by people who use alcohol heavily; it can result in severe liver damage and even a condition requiring a liver transplant.

Did you know?

In 1885, the Lloyd Manufacturing Company of Albany, New York, promoted and sold "Cocaine Toothache Drops" at 15 cents per bottle! In 1914, the Harrison Narcotic Act brought the sale and distribution of this drug under federal control.

Did you know?

In the United States, there is a birth every 8 seconds, according to the U.S. Census Bureau's Population Clock.

Did you know?

Addicts to opiates often avoid treatment because they are afraid of withdrawal. Though unpleasant, with proper management, withdrawal is rarely fatal and passes relatively quickly.

Did you know?

Many medications that are used to treat infertility are injected subcutaneously. This is easy to do using the anterior abdomen as the site of injection but avoiding the area directly around the belly button.

Top view of a cast of the LB1 skull Top view of a cast of the LB1 skull
Ligaments of the Ankle, Medial View Ligaments of the Ankle, Medial View
Sheep brain Sagittal view Sheep brain Sagittal view
A midline view of the posterior and anterior pituitary and surrounding structures. A midline view of the posterior and anterior pituitary and surrounding structures.
Twenty percent of the automobiles inspected at a state inspection station required repairs to ... Twenty percent of the automobiles inspected at a state inspection station required repairs to ...
Video: Role of transport in a cell

For a complete list of videos, visit our video library