Answer:
The classified list of items is as follows:
(a) Issuance of ownership shares - Common stock
(b) Land purchased - Asset
(c) Amounts owed to suppliers - Liability
(d) Bonds payable - Liability
(e) Amount earned from selling a product - Revenue
(f) Cost of advertising - Expense
Hence, all the items are classified as asset, liability, revenue, common stock and expense.
Answer:
1. You have to create a journal entry debiting foreign exchange gain or loss $10 and crediting the Canadian bank account $10.
4. You have to perform a home currency adjustment for the Canadian bank account as of the current date
Explanation:
This difference is the result of a foreign exchange loss. Foreign exchange gains/losses are normal for companies that operate in foreign countries. E.g. you prepared your financial statements by converting the foreign currency into your local currency, in this case you converted Canadian dollars to US dollars. But then the exchange rate between the currencies changes. If the value of the Canadian dollar's value increased after conversion, then you gained, and an adjustment must be made to show that gain. But if the Canadian dollar's value decreased after the conversion, then you lost (what happened here) and an adjusting entry must be made to report the loss.
In order to correct his, you must:
Dr Foreign exchange gain/loss 10
Cr Canadian bank account 10
Answer:
Explanation:
Please locate the attached file below for the answer for the given problem.
The part of the combined price allocated to the product is less than 50% which might be around 35-40%.
<u>Explanation:</u>
Since the price of the product all alone is $450 and the price of the service alone is $550, so the combined amount totals up to be nothing less than $1000. But the company under the discount and offer, offers the both things combined for $800.
This shows that the company is under some loss which it has to incur. The loss is of $200 under the discount to be offered to the clients which serves as the incentive to the customers.
These characteristics unique to Gillete's Fusion razor system comprises its product image.
<span>Product image signifies what "a product currently stands for." It is composed of the consumer's perceptions, mental images, and beliefs associated with a certain product, as a result of historic facts or events, and the company's advertising and goals. </span>
