Question

Someone please help me with these terms-
I'm making my notes and I want to have an appropriate+self made definition for the above terms- as I didn't got even a word from gôogle -_+
so pls help me

I) Return credit purchase
II) Wages account
III) Salary account
IV) Advertisement account
V) Commission account

Dun uh dare to report or spam.​

Answer 1

Answer:

A purchase return occurs when a buyer returns merchandise that it had purchased from a supplier. ... The account Purchases Returns is a general ledger account that will have a credit balance (or no balance). Its credit balance will offset the debit balance in the Purchases account.

Wages are reported just like any other expense. When the employer issues payroll checks to employees, wages expense is debited and the cash account is credited.

People also ask

What is a salary account?

A Salary Account is an account to which your salary gets credited. Usually, banks open these accounts on request of corporations and major companies. ... When the time comes for the company to pay its employees, the bank takes the money from the company's account and then distributes it to the employers accordingly.

Advertising Expense is an expense account. It is part of operating expenses in the income statement. ... These advanced payments are treated as assets (prepaid advertising) and only become part of expense once the advertising services have been performed.

A commission is a fee that a business pays to a salesperson in exchange for his or her services in either facilitating, supervising, or completing a sale. The commission may be based on a flat fee arrangement, or (more commonly) as a percentage of the revenue generated.

Answer 2

Answer:

1)When you return an item purchased with a credit card, the refund will generally post to your credit card account after a few business days. Just make sure you follow the store’s policy while making the return. Your card may provide additional protections for returns if the store refuses

2)The account Wages and Salaries Expense (or separate accounts such as Wages Expense or Salaries Expense) are used to record the amounts earned by employees during the accounting period under the accrual basis of accounting.

3)Salary Account is a benefit-rich payroll account for Employers and Employees.

4)Ad Account. Represents a business, person or other entity who creates and manage ads on Facebook. Multiple people can manage an account, and each person can have one or more levels of access to an account, see Business Manager API. For example, query for all ad sets in this ad account:

5)What is the Accounting for Commissions? A commission is a fee that a business pays to a salesperson in exchange for his or her services in either facilitating, supervising, or completing a sale. The commission may be based on a flat fee arrangement, or (more commonly) as a percentage of the revenue generated.