Grenhert Co is an online furniture retailer. Each week it produces a report of customer sales activity for analysis by its sales staff. Which TWO of the following should NOT appear on the weekly sales report? Customer name and address O Profitability of items sold Customer payment card details O Customer log-on details Total sales made to each customer O Product codes and quantities of goods sold
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- Guardian Services Inc. had the following transactions during the month of April: a. Record the June purchase transactions for Guardian Services Inc. in the following purchases journal format: b. What is the total amount posted to the accounts payable and office supplies accounts from the purchases journal for April? c. What is the April 30 balance of the Officemate Inc. creditor account assuming a zero balance on April 1?Saimdang Co. has the following business rules.1. Customers place many orders during the period2. Each sales order consists of one or more line items of inventory3. Customers are billed twice a month for the purchases that they made during the period4. Customers make payments once a month to settle their accountsRequired: Prepare an entity-relationship diagram (must include entities and cardinalities) for eachbusiness ruleSolve all questions. a. The Soap Manufacturing Company has three employees who work in the warehouse. All of the warehouse workers are authorized to order inventory when it falls below the reorder level. The workers complete a purchase order and mail it to the supplier of their choice. The inventory is delivered directly to the warehouse. The workers send a memo to accounts payable reporting the receipt of inventory. Accounts payable compares the warehouse memo to the supplier’s invoice. Accounts payable prepares a check which the treasurer signs. a. Based on your point of view, discuss and explain each of them include examples FIVE (5) internal controls that being needed for improvements to the Soap Manufacturing Company. b. briefly discuss and explain the documents related to the purchasing cycle in above case study with any situation
- Seas Beginning sells clothing by mail order. An important question is when to strike a customer from the company’s mailing list. At present, the company strikes a customer from its mailing list if a customer fails to order from six consecutive catalogs. The company wants to know whether striking a customer from its list after a customer fails to order from four consecutive catalogs results in a higher profit per customer. The following data are available: ■ If a customer placed an order the last time she received a catalog, then there is a 20% chance she will order from the next catalog. ■ If a customer last placed an order one catalog ago, there is a 16% chance she will order from the next catalog she receives. ■ If a customer last placed an order two catalogs ago, there is a 12% chance she will order from the next catalog she receives. ■ If a customer last placed an order three catalogs ago, there is an 8% chance she will order from the next…Please solve all questions. The Soap Manufacturing Company has three employees who work in the warehouse. All of the warehouse workers are authorized to order inventory when it falls below the reorder level. The workers complete a purchase order and mail it to the supplier of their choice. The inventory is delivered directly to the warehouse. The workers send a memo to accounts payable reporting the receipt of inventory. Accounts payable compares the warehouse memo to the supplier’s invoice. Accounts payable prepares a check which the treasurer signs. a Based on your point of view, discuss FIVE (5) internal controls that being needed for improvements to the Soap Manufacturing Company. b. Discuss the documents related to the purchasing cycle in above case study.The Soap Manufacturing Company has three employees who work in the warehouse. All of the warehouse workers are authorized to order inventory when it falls below the reorder level. The workers complete a purchase order and mail it to the supplier of their choice. The inventory is delivered directly to the warehouse. The workers send a memo to accounts payable reporting the receipt of inventory. Accounts payable compar es the warehouse memo to the supplier’s invoice. Accounts payable prepares a check which the treasurer signs. a)Based on your point of view, d iscuss FIVE (5) internal controls that being needed for improvements to the Soap Manufacturing Company. b)Discuss the documents related to the purchasing cycle in above case study.
- The following is selected information from Mars Corp. Compute net purchases, and cost of goods sold for the month of March. Record the journal entry or entries for each of the following sales transactions. Glow Industries sells 240 strobe lights at $40 per light to a customer on May 9. The cost to Glow is $23 per light. The terms of the sale are 5/15, n/40, invoice dated May 9. On May 13, the customer discovers 50 of the lights are the wrong color and are granted an allowance of $10 per light for the error. On May 21, the customer pays for the lights, less the allowance.Journalize the following sales transactions for Lucy's Boutique. Explanations are not required. The company estimates sales returns at the end of each month. (Assume the company uses a perpetual inventory system and records sales at the net amount.) (Click the icon to view the transactions.) Mar. 3: Lucy sold $63,000 of women's clothes on account, credit terms are 3/10, n/30, to Maria's Dresses. Cost of goods is $35,000. Begin by preparing the entry to journalize the sale portion of the transaction. Do not record the expense related to the sale. We will do that in the following step. Date Accounts Debit Credit Mar, 3 More Info Now journalize the expense related to the March sale-Cost of goods, $35,000. Date Accounts Debit Credit Mar. 3 Lucy sold $63,000 of women's clothes on account, credit terms are 3/10, n/30, to Maria's Dresses. Cost of goods is $35,000. Mar. 3 Lucy granted a sales allowance of $100 for the clothes sold on March 3. Maria's Dresses did not return the inventory. Mar.…The sales journal of Kutkutin & Pasalubong for the month of June, is shown below. On a ledger sheet, post to the Accounts Receivable control account and the accounts subsidiary ledger. Write your answers on a ledger sheet.
- determine the correct amount of the end-of-month posting the sales journal to the Account Receivable control account. Amount of the end-of-month posting from the sales journal to the Account Receivable $ Pharoah Products uses both special journals and a general journal. Pharoah also posts customers accounts in the accounts receivable subsidiary ledger. The postings for the most recent month are included in the subsidiary T-accounts below. Estes Bal. 290 215 195 Truong Bal. 300 300 Gehrke Bal. 215 215 340 Weiser Bal. 170 170 150The Soap Manufacturing Company has three employees who work in the warehouse. All of the warehouse workers are authorized to order inventory when it falls below the reorder level. The workers complete a purchase order and mail it to the supplier of their choice. The inventory is delivered directly to the warehouse. The workers send a memo to accounts payable clerk, reporting the receipt of inventory. Accounts payable clerk, compares the warehouse memo to the supplier’s invoice. Accounts payable clerk, prepares a check which the treasurer signature. What internal control improvements needed on this set up? Discribe at least 5 or more.Transactions must be entered correctly into the organisational journal system, following organisational policies and procedures and accounting requirements. Which journal should you use for the following transactions for a confectionery store: a customer pays for $130 worth of lollies by cheque the tenant who uses the storage shed pays $300 in rent a customer buys $1,000 worth of lollies, telling the sales clerk to put it on their account the customer realises they only needed $600 worth of lollies. The owner agrees to returning the surplus for a refund the organisation purchases nougat from the confectionery supplier