had a fragment value of $30.
is this a purchase return or public sale return and how would i label it goal:
accounts payable
purchase returns and allowances
(to record return of merchandise purchased from olaf co.)
Answers: If a full Cash Refund is issued, Debit $90, "Returns and Allowances". If purchased on credit, a credit will be issued to the account. The credit to the vindication will reduce "Accounts Receivable".
Enter a Markdown for the difference, $90-30=$60 Retail MD.
$30 Cost will diverge Retail.
If a MD is not entered contained by Markdowns, it will become an unexplained shortage.
If the retail value is $30, after Return the item to Inventory with a retail SP $30.
A alien Cost must be calculated on the Standard Markup of the item, based on SP of $30.
If the Cost Value is $30, later Return to Inventory at a SP calculated on the standard Markup.
This maintains a correct inventory. Cost and Retail.
If it is returned to the capitalist, the return freight will be just freight expense, unless the mfg. issues credit for frt.
Deduct the item from inventory as Return to MFG.
A credit will be issued by the mfg. within the amount allowed.
In many cases, the mfg. may not ask for a return, but issue credit anyway. I'm not sure give or take a few your Scrap Value, "Cost or Retail"?
This will just be a return awaiting credit. When credit is received it will be used as a conclusion on another invoice.
I hope this is clear. I know it can sound confusing.
Resolved Questions:
How behind schedule can fedex packages arrive to your home the estimated distribution say's june 3rd but its 6:57 can it?
Is this site legit?
Has any used the abcoaster previously and is it worth the money anyone asked?
Please Help...UPS press,really call for a snatched answer on this one?
What are the alternatives to selling books through Amazon for tenet hint books?
is this a purchase return or public sale return and how would i label it goal:
accounts payable
purchase returns and allowances
(to record return of merchandise purchased from olaf co.)
Have gas prices ever hit a history low?
Answers: If a full Cash Refund is issued, Debit $90, "Returns and Allowances". If purchased on credit, a credit will be issued to the account. The credit to the vindication will reduce "Accounts Receivable".
Enter a Markdown for the difference, $90-30=$60 Retail MD.
$30 Cost will diverge Retail.
If a MD is not entered contained by Markdowns, it will become an unexplained shortage.
If the retail value is $30, after Return the item to Inventory with a retail SP $30.
A alien Cost must be calculated on the Standard Markup of the item, based on SP of $30.
If the Cost Value is $30, later Return to Inventory at a SP calculated on the standard Markup.
This maintains a correct inventory. Cost and Retail.
If it is returned to the capitalist, the return freight will be just freight expense, unless the mfg. issues credit for frt.
Deduct the item from inventory as Return to MFG.
A credit will be issued by the mfg. within the amount allowed.
In many cases, the mfg. may not ask for a return, but issue credit anyway. I'm not sure give or take a few your Scrap Value, "Cost or Retail"?
This will just be a return awaiting credit. When credit is received it will be used as a conclusion on another invoice.
I hope this is clear. I know it can sound confusing.
Resolved Questions: