The cash receipts journal for Jeff's Sports Memorabilia is given in the Working Papers.

Instructions:

2. Total and rule the cash receipts journal.

Transactions:

Mar. 5. Recorded Internet credit card sales, $799.00. TS113.
    13. Recorded Internet credit card sales,$1,287.00. TS114.
    20. Recorded Internet credit card sales, $1,109.00. TS115.
    27. Recorded Internet credit card sales,$2,945.00. TS116.

The cash receipts and general journals for Nicola Maria Exports, Inc., are given in the Working Papers.

2. Prove and rule the cash receipts journal.

Transactions:

July 11. Recorded an international cash sale, $12,000.00. M324.
     16. Received a 30-day time draft from Sun Chan for an international sale,$16,000.00. TD31.
     23. Received cash for the value of Time Draft No. 10, $22,000.00. R221.

What two purposes does a bill of lading serve?

What is the difference in the gross margin for discount sales versus nondiscount sales?

Millions have discovered the convenience of shopping on the Internet. Unfortunately, many have not considered the risk of releasing personal information to different websites. What would happen if someone stole personal or credit card information and charged thousands of dollars in someone else's name? This is a form of identity theft and is considered a crime.

Credit card fraud is the most common type of identify theft and is one of the fastest growing crimes in the United States. In a recent year, about 7% of people over the age of 16 were victims of identify theft. Unfortunately, the victims may be denied loans or job opportunities due to fa lse information on their credit reports.

One way to protect against identity theft is to create strong passwords. A strong password consists of uncommon names and number combinations. Also, be cautious about e-mail scams and suspicious e-mails. Make sure the online business has a secure website and uses a security measure that scrambles your data as it passes through the Internet. This is called encryption; a closed padlock image will often appear on a website that uses encryption, or a pop-up window will indicate added security features. In addition, confirm the validity of the on line business before conducting business and preferably look for a third-party endorsement such as the Better Business Bureau.

2. Compose a list of five ways in which consumers put themselves at risk for identity theft. For each of these risks, post reminders on a poster, produce a public service announcement, or create a "tweet of the day" on Twitter.

Why is a bank credit card sale treated the same as a cash sale?

International sales can be stated in terms of U.S. dollars or in the foreign currency. The transaction statements below are stated in terms of the foreign currency of the customer.

Instructions:

2. Prove and rule the cash receipts journal.

Transactions:

June 1. Recorded international cash sale, 6,207 Chinese yuan. M48.
     8. Recorded international cash sale, 28,731 Mexican pesos. M53.
    14. Recorded international cash sale, 4,631 New Zealand dollars. M59.
    19. Recorded international cash sale, 453 European euros. M60.
    28. Recorded international cash sale, 2,174,060 Indian rupees. M72.


Currency                1 U.S. Dollar Equals ...
Chinese yuan            6.3883 yuan
European euro           0.73126 euro
Mexican peso            13.11144 pesos
New Zealand dollar      1.21711 New Zealand dollars
Indian rupee            47.79671 rupees

The cash receipts and general journals for Courtney's Stone Collections are given in the Working Papers.

2. Prove and rule the cash receipts journal.

Transactions:

Oct. 8. Recorded an international cash sale, $8,400.00. M256.
    17. Received a 45-day time draft from Ashley Patel for an international sale,$6,300.00. TD81.
    30. Received cash for the value of Time Draft No. 73, $10,500.00. R205.

Aperson stands at the curb urgently trying to hail an empty cab from a maze of yellow taxis jockeying for position on the busy street. It's a classic scene in nearly every movie set in New York City. However, the Internet and a smartphone app are quickly changing this scene. Now instead of waving a hand to hail a taxi, individuals can simply click their Lyft app to arrange for a ride.

Lyft is an offshoot of Zimride, a long distance ridesharing company founded in 2007 by Logan Green and John Zimmer. Zimride initially was targeted at college students seeking to share the cost of returning home. The company soon recognized that an opportunity existed for serving individuals needing short distance rides. Lyft was launched in 2012 with the goal of reducing the number of cars on the road through the more efficient use of available seats.

Riders can quickly arrange for an immediate pickup or schedule a ride to work up to seven days in advance. Riders simply tap their location and destination on the Lyft app. After arranging a ride, the app displays the driver's name and photo, estimated time of arrival, and an image of the car. The rider can even call the driver with special instructions or directions. Payment for the fare, including a tip, is easily processed through the app.

Lyft drivers are self-employed and have the flexibility of setting their own hours. Lyft has strict policies on its drivers and their vehicles to ensure the safety and security of its riders. A two-way rating system allows riders and drivers to use a 5-point system to rate each other. These reviews provide all members of the Lyft community timely, useful information when requesting a ride and accepting a fare.

Lyft is just one company in what has been labeled the "sharing economy." Airbnb and HomeAway are two other popular sharing-economy businesses that enable individuals to earn extra money by renting extra bedrooms or entire homes. These companies bring together, for a fee, willing individuals to exchange goods and services.

List the factors that must be considered when creating a website that will be used in other countries.

In many cities in the United States, the same thing happens each Friday afternoon. City dwellers pack up and vacate the city, choosing instead a quiet country experience. It might take place on a hiking trail, near a lake, or in the forest. If luck is with them, they may even spot some wildlife such as a deer.

Not everyone is excited about the increasing population of wildlife. Each year, deer alone cause millions of dollars of damage to U.S. agricultural crops. This causes a conflict between hunters, environmentalists, conservationists who want increased wildlife, and agricultural producers whose livelihood is threatened by wild animals.

Most states have a department or agency that is in charge of wildlife management. In order to help reach a balance, many states have a program through which producers receive payment for crop and animal losses due to wild animals. However, sometimes the cost of administrating such programs is higher than the amount actually paid out in losses. Administration costs are highest when losses are actually verified by wildlife officials. Without official verification, there is a risk that producers will claim more loss than actually occurred.

Use the Internet to research crop and animal loss due to wild animals throughout the world. List three wild animals that cause this loss.

The cash receipts and general journals for Jan Hakeem Exports, Ltd. are given in the Working Papers.

Instructions:

2. Prove and rule the cash receipts journal.

Transactions:

June 1. Recorded an international cash sale, $14,000.00. M79.
     5. Received a 30-day time draft from Bella Lamas for an international sale,$12,000.00. TD27.
     9. Received cash for the value of Time Draft No. 24, $18,000.00. R115.
    12. Received a 60-day time draft from Elias Harmon for an international sale,$7,000.00. TD33.
    19. Received cash for the value of Time Draft No. 21, $22,000.00. R117.
    21. Recorded an international cash sale,$13,500.00. M83.
    25. Received a 30-day time draft from Juan Mendez for an international sale, $26,500.00. TD34.

Dexter Corporation has both international and Internet sales.

Instructions:

2. Prove and rule the cash receipts journal.

Transactions:

May  5. Received a 30-day time draft from Cooper Doi for an international sale, $3,000.00. TD10.
     8. Recorded Internet credit card sales,$14,500.00. TS23.
    12. Recorded an international cash sale, $8,800.00. MS.
    14. Received cash for the value of Time Draft No. 4,$22,000.00. R35.
    18. Recorded Internet credit card sales, $18,300.00. TS24.
    21. Received cash for the value of Time Draft No. 7,$6,000.00. R37.
    24. Recorded an international cash sale, $12,400.00. M12.
    27. Recorded Internet credit card sales,$7,100.00. TS25.
    28. Received a 30-day time draft from Strizi Percheki for international sale of merchandise, $5,000.00. TD11.

Decades ago, most U.S. businesses conducted their transactions within the boundaries of the United States. The majority of companies did not even consider going global for purchases or sales. U.S. laws governing patents, trade policies, and legal issues were in place to support a fair trade system. A company could expect its suppliers and customers to follow the laws.

Today, thousands of U.S. businesses either purchase or sell goods and services throughout the world. U.S. law does not apply to all international trade. There is a need for a set of international rules and guidelines to assist companies that wish to trade globally. The World Trade Organization (WTO) is attempting to negotiate these rules.

The WTO was formed in 1955 and is headquartered in Geneva, Switzerland. It is the only organization that focuses solely on rules for international trading. Currently, the WTO has 164 member countries and 22 "observer" governments, most of which are seeking membership. According to its website, the main function of the WTO "is to ensure that trade flows as smoothly, predictably and freely as possible."

The WTO has negotiated a variety of agreements with its member nations. It has a policy of one country, one vote. However, the consensus method is used and an actual vote has never taken place. Instead, member countries listen to opponents of an agreement and try to find ways to make the agreement acceptable to every member.

In addition to negotiating trade agreements, the WTO also implements and monitors agreements already in place. If a member country believes another country is not following the terms of an agreement, the WTO has a procedure for settling the dispute.

The WTO lists six principles that are fundamental to all WTO agreements: (1) non-discrimination, (2) more open trade, (3) predictable and transparent, (4) more competition, (5) benefits to less developed countries, and (6) protection of the environment.

The WTO publishes a variety of resources, many of which are available on line. In addition to the legal texts of WTO agreements, the resources include economic research and analysis findings, the annual WTO report, international trade statistics, and the world trade report.

Use the Internet to find three countries that fall into the following categories:

c. Neither members nor observers of the WTO

Decades ago, most U.S. businesses conducted their transactions within the boundaries of the United States. The majority of companies did not even consider going global for purchases or sales. U.S. laws governing patents, trade policies, and legal issues were in place to support a fair trade system. A company could expect its suppliers and customers to follow the laws.

Today, thousands of U.S. businesses either purchase or sell goods and services throughout the world. U.S. law does not apply to all international trade. There is a need for a set of international rules and guidelines to assist companies that wish to trade globally. The World Trade Organization (WTO) is attempting to negotiate these rules.

The WTO was formed in 1955 and is headquartered in Geneva, Switzerland. It is the only organization that focuses solely on rules for international trading. Currently, the WTO has 164 member countries and 22 "observer" governments, most of which are seeking membership. According to its website, the main function of the WTO "is to ensure that trade flows as smoothly, predictably and freely as possible."

The WTO has negotiated a variety of agreements with its member nations. It has a policy of one country, one vote. However, the consensus method is used and an actual vote has never taken place. Instead, member countries listen to opponents of an agreement and try to find ways to make the agreement acceptable to every member.

In addition to negotiating trade agreements, the WTO also implements and monitors agreements already in place. If a member country believes another country is not following the terms of an agreement, the WTO has a procedure for settling the dispute.

The WTO lists six principles that are fundamental to all WTO agreements: (1) non-discrimination, (2) more open trade, (3) predictable and transparent, (4) more competition, (5) benefits to less developed countries, and (6) protection of the environment.

The WTO publishes a variety of resources, many of which are available on line. In addition to the legal texts of WTO agreements, the resources include economic research and analysis findings, the annual WTO report, international trade statistics, and the world trade report.

Use the Internet to find three countries that fall into the following categories:

b. "Observers" of the WTO