logo image

Invoice Sales Salaries Essay

The difference between a fitness club and a fitness equipment retailer mainly stems from the type of activities they undertake. A fitness club provides club services to members and ancillary activities. Therefore it transactions will be based on such activities. On the other hand a fitness equipment retailer is mainly engaged in acquiring and disposing fitness equipment at a profit. In this respect inventory, for example will be a more prominent figure in such division. Fitness Club Fitness Equipment Retailer

Transaction Source Document Transaction Source Document 250 memberships sold (250) Membership Card Fitness equipment sales (850,000) Sales Invoice Personal trainer services (400,000) Invoice Fitness equipment purchases (500,000) Purchase Invoice Towel-laundering services (2,500) Invoice CEO Remuneration Payroll Sheet Advertising campaign (1,500) Invoice (300,000) Cost of Goods Sold Purchase Invoices/Stock Sheet Equipment Repairs (1,500) Invoice Sales Salaries (100,000) Payroll Sheet

Source documents are the paper documents that are considered to initiate the business transaction. These documents are indeed recorded in the books of prime entry was initiated. Whenever an expenditure, purchase or sale arises an invoice is issued to provide evidence of such transaction. Therefore the invoice will be the main source document. In a club every member is entitled to a membership card.

Need essay sample on "Invoice Sales Salaries"? We will write a custom essay sample specifically for you for only $ 13.90/page

Such document comprises the date of entry as a member together with the subscription payments when applicable.

Thus when an individual becomes a member or renews the membership this will be the first document to commence the transaction. With respect to payroll, the payroll sheet issued by the financial controller is the first documents that substantiate the remuneration paid at the end of the month. Thus they also act as a source document for salaries. Reference: Randall H. (1999). A Level Accounting. Third Edition. London: Letts Educational.

Can’t wait to take that assignment burden offyour shoulders?

Let us know what it is and we will show you how it can be done!
Sorry, but copying text is forbidden on this website. If you need this or any other sample, please register

Already on Businessays? Login here

No, thanks. I prefer suffering on my own
Sorry, but copying text is forbidden on this website. If you need this or any other sample register now and get a free access to all papers, carefully proofread and edited by our experts.
Sign in / Sign up
No, thanks. I prefer suffering on my own
Not quite the topic you need?
We would be happy to write it
Join and witness the magic
Service Open At All Times
Complete Buyer Protection
Plagiarism-Free Writing

Emily from Businessays

Hi there, would you like to get such a paper? How about receiving a customized one? Check it out https://goo.gl/chNgQy

We use cookies to give you the best experience possible. By continuing we’ll assume you’re on board with our cookie policy