Answer:
January 1, 2021, building purchased
Dr Building 420,000
Cr Cash 100,000
Cr Notes payable 320,000
Explanation:
The building account (asset) must be recorded at the purchase cost. The mortgage is considered a note payable (long term liability), while the cash account (asset) decreases, therefore, it must be credited.
Answer: Consulting firms and government organizations
Explanation:
When external bodies; Consulting firms and any organization carry out a task in a firm, it is said that the particular job was outsourced for services to be provided by an external body.
Answer:
(3) $3,750,000
Explanation:
The computation of the expect monthly sales to be as high is shown below:
Given that
Sales per month = $300,000
Royalty payments = 8% of sales
So, the expected monthly sales would be
= Sales per month ÷ Royalty payments percentage
= $300,000 ÷ 8%
= $3,750,000
We simply divided the sales per month by the royalty payment percentage i.e 8%
Answer:
c. Market Pricing
Explanation:
Market pricing is based on the competition based strategy. In this strategy a company evaluate the price of only those products that are similar to the products that are offered by the company or in our case the parents of the family are evaluating the price of similar tasks that are performed by the siblings.