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Purchase of machinery costing 1200 was debited to the purchases acountas a resul the purchases account balance will be A overstated by 1200 B understated by 1200 c unaffected?
Wiki User
∙ 11y ago
unaffected
Wiki User
∙ 11y ago
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What are credit purchases?
credit purchases are goods that you buy on credit and and pay little by little to pay to the person you owen.
Is it illegal to charge customers for credit card purchases?
Businesses are free to add a surcharge for purchases made by credit or debit cards.
How do you define buying on margin?
Buying on Margin is a technique using borrowed money to make purchases and using those purchases as collateral.
What is the difference between debit and visa card?
A debit card is a card that is connected to your bank account. If you pay with your debit card, your purchases will be charged to your bank account. A visa card is usually an unsecured credit card. When you pay with a credit card, the issuer pays for your purchases and the issuer will bill you for the purchases with additional interest for using their services. In other words, your purchases are on credit.
Do you have to pay for a credit card with no purchases on it?
yes you do
How does machinery finance work?
Machinery financing is a facility that allows purchases of agriculture or manufacturing equipment or equipment and utility vehicles used in direct or indirect ways for the production, processing, and marketing of agricultural products or other agro-based ones. Machinery finance financing for machinery is a type of business loan that can be used by producers as well as entrepreneurs to purchase machinery to run their businesses.
What should I be aware of before making a large purchase of farm machinery online?
You should always meet in person to make large purchases to ensure you can inspect the merchandise and ensure it will be delievered to you and not lost in transmission.
Machinery A/C $4000 Stock A/C $3000 Sales A/C $5000 Purchases A/C $1000 Capital A/C $3000 The above balances appeared in the ledger of R. Dillon. What is the total of this trial balance?
Hg
What is the subject in the sentence how many purchases were made on Sunday?
Purchases
What is the formula to calculate purchases?
1. Net purchases +? = cost of goods purchased 2. Net purchases = ? + ? = purchases
What is the formula to calculate net purchases?
1. Net purchases +? = cost of goods purchased 2. Net purchases = ? + ? = purchases
What journals do you use to record purchases on account purchases for cash and cash payments?
Purchases journal is used to record purchases on account while Cash payment journal is used to record purchases for cash and cash payments.
What is the Federal purchases limit for small purchases?
$125,000
Where do you find credit purchases in financial statements?
Credit purchases are shown in income statement as a part of total purchases.
What the subject in this sentence how many purchases were made on Sunday?
purchases
Are purchases expenses or costs?
Purchases are costs until those purchases are converted into sellable goods and actually sold for revenue.
What is entry of credit and cash purchases?
Debit Purchases Credit Cash
