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2 years ago

Consider the following situations for Shocker:

Business

1 answer:

Delicious77 [7]2 years ago

5 0

Answer:

Cash $4,500 (debit)

Deferred Revenue $4,500 (credit)

Prepaid Advertising $2,700 (debit)

Cash $2,700 (credit)

Salaries Expense $8,000 (debit)

Salaries Accrued $8,000 (credit)

Cash $70,000 (debit)

Note Payable $70,000 (credit)

Interest Expense $2,100 (debit)

Note Payable $2,100 (credit)

Explanation:

Recognize Cash and Deferred Revenue

Recognize Asset - Prepaid Advertising and De-recognize Cash

Recognize Salaries Expense and Recognize Salaries Accrued Liability

Recognize Cash Asset and Recognize Liability - Note Payable

Recognize Interest income accrued on the Note Payable during September to December.

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A store sells 20 ice cream bars per hour for $4 each, but on discount days, it sells 35 ice cream bars per hour for $3. Based on

USPshnik [31]

Answer:

The slope for the relationship between the price and the quantity of ice cream sold would be of -1/15

Explanation:

In order to calculate the slope for the relationship between the price and the quantity of ice cream sold we would have to calculate the following formula:

Slope= change in yaxis( vertical)/change in xaxis(horizontal)

Slope= change in price/change in quantity demand

Slope=P2-P1/Q2-Q1

Slope=3-4/35-20

Slope=-1/15

The slope for the relationship between the price and the quantity of ice cream sold would be of -1/15

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1 year ago

Dextra Computing sells merchandise for $6,000 cash on September 30 (cost of merchandise is $3,900). Dextra collects 5% sales tax

Eduardwww [97]

Answer:

Sept - 30

DR Cash $6,300

CR Sales $6,000

CR Sales Tax $300

(To record Cash sales and Tax Payable)

Working

Sales Tax = 6,000 * 5%

= $300

Oct - 15

DR Sales Tax Payable $300

CR Cash $300

(To record remittance of Sales Tax to the State Government)

Sept - 30

DR Cost of Goods Sold $3,900

CR Merchandise Inventory $3,900

(To transfer inventory to Cost of Goods sold)

4. Repeat question for question 2.

5. Repeat question for question 1.

8 0

1 year ago

Digby's Elite product Don has an awareness of 72%. Digby's Don product manager for the Elite segment is determined to have more

Leya [2.2K]

Answer:

$2,000,000

Explanation:

current awareness of Digby's Don = 72%

next year it will decrease to 72% - 1/3 = 48% if the firm does nothing

first $1,000,000 adds 22% awareness ⇒ total awareness = 48% + 22% = 70%
second $1,000,000 adds 23% awareness ⇒ total awareness = 70% + 23% = 93%
third $1,000,000 adds 5% awareness ⇒ total awareness = 93% + 5% = 98%

Don's competition, Axe, has an awareness level of 77% and it should remain the same next year. So, Digby as to spend at least $2,000,000 to earn more awareness than Axe. Don's awareness level will be 93%.

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1 year ago

Whispering Corporation had income from continuing operations of $10,775,400 in 2020. During 2020, it disposed of its restaurant

pantera1 [17]

Answer:

Whispering Corporation

Partial income statement for 2020

Income from continuing operations $10,775,400

Income from discontinuing operation:

Division operated loss ($321,500)

Division disposal Loss ($200,100)

($521,600)

Net Income $10,253,800

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2 years ago

Unlike merchant wholesalers, ___________ never actually own the goods they help to distribute. rack jobbers retailers cash-and-c

ANEK [815]

The correct answer is agents and brokers. Agents and brokers are considered to be a non-manufacturing traders by which they sell, buy, or even facilitate the traded products of which the goods that they sell are not theirs or they didn't actually owned it.

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1 year ago