Financial Accounting

posted by .

What items appear on the merchandising company statements that don’t appear on the service company statements? Why is there a difference?

  • Financial Accounting -

    Well, it's obvious. The answer is in the question. Merchandise Inventory. Whenever you sell merchandise, you also must have a journal entry for Cost of goods sold as well.

    Merchandising company is when your actually selling something.

    Service company statements is when your providing services for your client.

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. finance

    pro forma financial statements are a. the most comprehensive means of financial forecasting b. often required by prospective creditors Thank you for using the Jiskha Homework Help Forum. Here is a definition of Pro Forma Financial …
  2. business question

    What items appear on a merchandising company statements that don't appear on the service comapany statements?
  3. accounting

    I am having trouble finding the following: What items appear on the merchandising company statements that don’t appear on the service company statements?
  4. Accting

    What items appear on the merchandising company statements that don’t appear on the service company statements?
  5. financial statements

    What items appear on the merchandising company statements that don’t appear on the service company statements?
  6. PLS HELP Financial

    What items appear on the merchandising company statements that don’t appear on the service company statements?
  7. accounting

    Can anyone tell me how a company uses comparative statements in their financial statements?
  8. accounting

    What items appear in financial statements of merchandising companies that do not appear in the financial statements of service companies?
  9. accounting

    What items appear in financial statements of merchandising companies that do not appear in the financial statements of service companies?
  10. Accounting

    Identify whether each of the following items would appear on the income statement (IS), statement of changes in stockholders’ equity (SE), balance sheet (BS), or statement of cash flows (CF). Some items may appear on more than one …

More Similar Questions