excess paper is not allowed) by chction: For each element of SCI, tell whether it belongs to service, or merchandising business in necking on the appropriate column after each number. Copy the format provided in next page n another sheet of paper and write your answer there.
excess paper is not allowed) by chction: For each element of SCI, tell whether it belongs to service, or merchandising business in necking on the appropriate column after each number. Copy the format provided in next page n another sheet of paper and write your answer there.
Chapter10: Financial Statements And Reports
Section: Chapter Questions
Problem 4.2C
Related questions
Question

Transcribed Image Text:al your answers in this activity sheet only, you can use behind if needed,
is of Qua
tou uction: For each element of SCI, tell whether it belongs to service, or merchandising business
excess paper is not allowed)
in onecking on the appropriate column after each number. Copy the format provided in next page
another sheet of paper and write your answer there.
of
in
Element Of SCI
Service Business
Merchandising Business
1. Sales discount
2. Sales returns
3. Еxpenses
4. Cost of Goods Sold
5. Beginning Inventory
6. Net Income
7. Purchase returns
8. Net Purchases
9. Goods Available for Sale
10. Revenues
11. Selling Expenses
12. Purchases
13. Sales
14. Advertising Expenses
15. Utility Expenses
Instructions: Answer the questions below on what you have understand in module.
1. Is it possible for a company to earn without having cash and lose even with lots of cash? Why?
Why not?
2. As a small business owner, Mr. Arvin doesn't usually account for his revenues and expenses as
long as he sees that cash is coming in. What will you tell Mr. Arvin to encourage him to utilize
an SCI?
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