Cash Discount on Sales Cash discount is the discount offered by seller for paying cash early. Cash discount is only offered on credit sales where the customers do not pay at the time of sale but promise to pay latter. There are two methods of accounting for sales that offer cash discounts; the gross method and the net method. These two methods are explained with the help of the following example: Example Suppose Company A sells certain goods at a price of $4‚400 with terms of payment
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Johnny Cash came from humble beginnings and overcome personal destruction to become an influential and successful artist. Johnny Cash was born on February 26‚ 1932 in Kingsland‚ Arkansas; he was one of seven children born to Ray and Carrie Cash. His family moved to Dyess‚ Arkansas when he was three‚ so that his father could farm. They bought a five bedroom house and farmed twenty acres of cotton and other crops. The son of Southern Baptist sharecroppers‚ Cash began playing guitar and writing songs
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Schools all around the world‚ especially those that have low test scores and enrollment‚ are implementing a “Cash for Grades Program”. The students in these particular schools aren’t motivated to do well in their classes anymore‚ they’re lazy‚ and their study habits are terrible. Another significant part of low passing rates and test scores are because of little to no attendance of students. For instance‚ students who skip class or just don’t show up to school period do not learn anything and when
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Running the business from the Palm of your hand 1. Case describe applications which help to work on-line not only through our computers but also through mobile devices. I the modern world almost whole production is made by machines and controlled by computers‚ some people must to control production necessary in a plant‚ others could control it from the computer by choosing optimal operating conditionals. There are also a lot of applications which make informational system of the companies‚ which collect
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Finance Cash Management Learning Objectives 1. Describe the various receipts and payment 2. Explain the difference between cash flow and profit 4. Explain the difference between cash flow accounting and accruals accounting 5. Understand why a company holds cash. 6. Explain various cash management objectives and decisions. BM059-3-2-MF Managing Finance Cash Management Slide 2 of 56 Learning Objectives 6. Describe the role of treasury function 7. Understand management of surplus cash 8. Prepare
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Business Studies PART 1 A) Social Function of a business: [Choice] Businesses provides goods and services to satisfy individual needs and wants by giving the choice of selecting something among a variety of products. Economic Function of a business: [Employment] By creating or providing employment for individuals this minimises the unemployment rate. B) Unincorporated enterprises is when the enterprise has NOT gone through the process of not separating the owner from its
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Cash and carry wholesale represents a type of operation within the wholesale sector. Its main features are summarized best by the following definitions: Cash and carry is a form of trade in which goods are sold from a wholesale warehouse operated either on a self-service basis‚ or on the basis of samples (with the customer selecting from specimen articles using a manual or computerized ordering system but not serving himself) or a combination of the two. Customers (retailers‚ professional users
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Cash Flow Problems In this task I will be analyzing the cash flow problems a business might experience by giving examples and describing how and why they cause cash flow problems in a business. The cash flow problems a business may experience can be: - CUSTOMERS TAKE TOO LONG TO PAY This is when a customer purchases an item without paying which leads the customer into a debt as it owes the company money. They then take too long to pay back the money which means that the company has sold
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financial accounting‚ a cash flow statement‚ also known as statement of cash flows or funds flow statement is a financial statement that shows how changes in balance sheet accounts and income affect cash and cash equivalents‚ and breaks the analysis down to operating‚ investing‚ and financing activities. The primary purpose of a statement of cash flows is to provide relevant information about the cash receipts and cash payments of an enterprise during a period. Essentially‚ the cash flow statement is concerned
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