Answer:
Hie, the question you have provided is missing information relating to <em>Accumulated depreciation</em> or <em>book value of the furniture</em> as well as <em>profit</em> or <em>loss</em> on sale of furniture.
However, important principles are explained below :
The Furniture Disposal T - Account is used to calculate the cash received from the sale of furniture.
The Format of the Account is as follows :
Debits :
Record the Costs of the Furniture Sold. In this cases Cost is $75,900
Record the Profit on Sale of Furniture (if there was profit). The information is incomplete in this case.
Credits :
Record the Accumulated Depreciation on the Furniture. This figure is missing.
Record the Loss on Sale of Furniture (if there was a loss). The information is incomplete in this case.
The Balancing figure would be the Cash Received on sale of Furniture and to be recorded here.
Conclusion :
The Cash Received on Sale of Furniture is a Balancing figure of the Furniture Disposal T - Account.
Answer with its Explanation:
Step 1:
First of all record a loan of $3 million loan:
Dr Bank $3,000,000
Cr Loan $3,000,000
Step 2:
Finance charge will be 3% on this loan amount:
Dr Finance Charge $3million *3% = $90,000
Cr Bank $90,000
Step 3:
The interest on the note is 7% which is $70,000. So the journal entry would be:
Dr Interest Expense $70,000
Cr Interest payable $70,0000
The full question is:
Karl's Sporting Goods started as a small shop catering to the fly-fishing crowd but as requests were made for different and varied goods, it branched out into an outdoor-sports store. Karl caters to his core customer base of hunters and fishermen, but stocks the latest outdoor gear for those who want to incorporate other sports such as backpacking into their hunting and fishing experience. Due to space limitations, he does not carry mountain bikes, but does carry gear for them. Since Karl's is not located near the ocean or a large body of water, he does not carry wetsuits or other watersports equipment, but he does carry gear that would be required for wading in cold mountain rivers and streams, and canoes and kayaks. His marketing is directed toward hunters and fishermen, but includes activities, events, and sales aimed at bringing outdoor enthusiasts with other interests into his store. Over the past month, he has received numerous request for rock climbing gear. As a result of these requests, Karl has entered into negotiations with three providers of high-quality rock climbing shoes and gear. What do Karl's activities show about his marketing for Karl's Sporting Goods?
Answer:
He has a marketing concept and is acting on it.
Explanation:
A marketing concept is the way by which businesses identify the needs of customers and come up with strategic ways of meeting those needs better than competing firms.
Different marketing concepts include: production concept, product concept, selling concept, marketing concept, and the societal marketing concept.
In the given scenario Karl's sporting goods only catered for fly fishers but as demand for other items increased they branched into other outdoor sport items.
He is stocking gear for swimming, rock climbing, and mountain bikers through partnership with suppliers even if they are not his primary market.
This is acting on marketing concept to be able to meet demand for the other outdoor sporting activities he does not normally supply
<span>Answer;
Every time the procurement purchase or procures goods or services it is participating in the economy.
when you pay taxes to the government you are supporting the economy. Having a job to support your financial needs such as mortgages and bills will save you from going bankrupt and hurting the bank.
Explanation;
Financial decisions are important in any business, for the growth and development of the business, these includes, investments decisions, wages, purchases, loans and debtors.
These financial decisions have a direct or indirect impact on the economy; for example the purchase of goods and services impacts the economy directly, as it facilitates trade, and also the tax charged on the purchased goods and services.</span>
<u>Answer:
</u>
The strategy that they should use should be that of negotiation.
<u>Explanation:
</u>
- In order to make the employees understand that they would be allowed to take the company phones and laptops to home but they would be required to carry out certain operations of the company work, it would be necessary to negotiate with them on the offer put forward by the company.
- This strategy would help the company even of a few employees agree to the offer as the operation time of the company would increase substantially.
