What are the key differences in performing adjusting and  closing for a service company, versus a merchandising company?

Q: 1. How does the cost accounting function assist in the management of the business? 5. How do the…

A: Cost Accounting: It is a part of managerial accounting and total cost of production of a business…

Q: Which of the following would not be considered a merchandising company? Home Depot Barnes & Noble…

A: Solution: Jones & Jones CPA is accounting firm that provides accounting and auditing services,…

Q: Which of the following options is/are NOT acceptable combinations duties in a sales process? I. The…

A: An effective sales cycle plays an important part in the growth of an organization, an effective…

Q: What is the differences between financial statements of a manufacturing and a merchandising…

A: Financial statements: Financial statements are condensed summary of transactions communicated in the…

Q: Explain the type of inventory in the manufacturing companies, service companies and merchandise…

A: Classification and uses of inventories in manufacturing companies, service companies and the…

Q: 1. "The steps in the accounting cycle for a merchandising company are different from the accounting…

A: “Since you have asked multiple questions, we will solve the first question for you.  If you want a…

Q: Describe how the inventory accounts of a manufacturing company differ from the inventoryaccount of a…

A: The manufacturing company maintains three inventory accounts; these are raw material inventory…

Q: Write a research on the Income Statement of a Merchandising Company.

A: Merchandising Company In a simple word the word Merchandising which describes as buy the goods and…

Q: Distinguish between manufacturing-, merchandising-, and service-sector companies?

A: Manufacturing companies are the  ones which procure raw materials and carry out manufacturing…

Q: I. The Cost of Goods Sold of a Merchandising company will include cost of Materials, Labor and…

A: Merchandising company is a company which is engaged in purchase and sale of readymade products. They…

Q: Companies that buy and sell goods are called: O a. merchandising businesses. O b. service providers.…

A: Inventory: It can be defined as all the goods, items, materials, and merchandise that are held by a…

Q: A decision about one product is said to have ________ effects when a change in the sales of one…

A: A decision about one product is said to have ________ effects when a change in the sales of one…

Q: Describe how manufacturing, merchandising and service-sector companies differ from one another?

A: Manufacturing Companies: Merchandiser is a person or organization who buys goods with the purpose of…

Q: Describe merchandising activities and identify income components for a merchandising company

A: merchandising activities Merchandising activities involve buying goods or products from the…

Q: Identify the usual changes that a company must make when it adopts a customer orientation.

A:

Q: What distinguishes a merchandising business from a service business?

A: Merchandising Company and Service Company: A merchandising company generates income by selling goods…

Q: What is the difference between the selling price,cost of sales and labour costs of an informal and…

A: The abbreviations CP and SP stand for Cost Price and Selling Price, respectively. The cost price of…

Q: Explain the differences in managerial and financial accounting for a clothing retailer.  Please…

A: The management accounting is generally created for a firm's internal audience, whereas financial…

Q: Keeping track of inventory and keeping carrying costs down.  How do you think those issues would…

A: If business organized their inventory management system, the warehousing cost tends to be reduced…

Q: What is the distinctionbetween retail and wholesale merchandising companies?

A: The Distinction between Merchandising and Manufacturing Companies are given below as,

Q: The accounting department for Target Stores may be classified as a(n)     profit center.…

A: Accounting department is a department in the organisation which is responsible for all the…

Q: Two categories of expenses for merchandising companies are

A: Option d

Q: How does reporting information for a merchandising company differ from financial reporting for a…

A: Merchandising Company:   A merchandising company is a type of company that engages in the purchase…

Q: Which of the following is not a reason for banks to use activity-based costing? a.to determine…

A: Activity based costing (ABC): Under activity based costing method, the activities responsible for…

Q: Explain what cost behavious is and why it is important for business?  Explain what breakeven point…

A: “Since you have asked multiple questions, we will solve the first question for you.  If you want a…

Q: (a) How are the components of revenues and expenses different for a merchandising company? (b)…

A: There are generally two types of business organisations-merchandising businesses which sale goods…

Q: Explain how the activities and costs differ between these two a brick-and-mortar business and an…

A: Brick and mortar” refers to a business that has at least one physical location that customers can…

Q: Which of the following companies is going to have three different types of inventory reported on…

A: Inventories - Inventories are the units that are not sold and has some selling value. Company's…

Q: Which of the following represents the components of the income statement for a service business?…

A: For a service business, there is no goods that are purchased or sold. It only provide services to…

Q: the differences between service business and merchandising business?

A: Merchandise business is a kind of business wherein revenues are earned by providing or selling goods…

Q: the specific parts of a business plan will vary, depending on the goods or services the firm is…

A: A business plan is a document in writing that elaborates how a start-up company derives its…

Q: Why is the normal operating cycle for a merchandising company likely to be longer than for a service…

A: A merchandising company only deals with purchase and sales of products. It buys products from other…

Q: Merchandising companies have financial statements that are more complex than manufacturing…

A: Merchandising companies are companies engaged in buying and selling goods. Manufacturing companies…

Q: Define Operating cycle of Merchandising Company,

A: “Hey, since there are multiple questions posted, we will answer first question. If you want any…

Q: Describe the operating cycle of a merchandising company.

A: An operating cycle can be defined as the process of obtaining merchandise inventory, selling the…

Q: please differentiate the cost flow in a Service, Merchandising and Manufacturing Business?

A: Merchandise industries are those that produce goods from the goods purchased from other parties.…

Q: Understand the components of a merchandising company’s income statement.

A: Preparations of income statements help the merchandise company to know how much gross profit or net…