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ahrayia [7]
1 year ago
10

A number of top fashion-modeling agencies would most likely be charged with ________ for jointly determining what commissions th

ey charge for models.
Business
1 answer:
ololo11 [35]1 year ago
7 0

Answer:

The answer is Price fixing.

Explanation:

number of top fashion-modeling agencies would most likely be charged with Price fixing for jointly determining what commissions they charge for models.

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Natcher Corporation collects 35​% of a​ month's sales in the month of​ sale, 40​% in the month following​ sale, and 20​% in the
uranmaximum [27]

Answer: Option (v) is correct

Explanation:

Given that,

Natcher Corporation collects,

35​% of a​ month's sales in the month of​ sale

40​% in the month following​ sale

20​% in the second month following sale

5% of their sales are noncollectable

Budgeted sales are:

August budgeted sales = $250,000

September budgeted sales = $350,000

October budgeted sales = $390,000

November budgeted sales = $230,000

Amount of cash collected in November is budgeted:

= 35% of November sale + 40% of October sale + 20% of September sale

= 35% of $230,000 + 40% of $390,000 + 20% of $350,000

= $80,500 + $156,000 + $70,000

= $306,500

4 0
2 years ago
2. When the economy is in a recession, the Federal Reserve usually cuts interest rates. Why would the federal government do this
Airida [17]
The purpose of the Federal Reserve cutting interest rates during a recession is to encourage borrowing (borrowing becomes cheaper) and in this way especially for companies they may spend more money then  on improvements, new products etc so the economy theoretically will be stimulated to counteract the recession.
7 0
2 years ago
On January 1, 2020, the balance sheet of Naperville Company (a sole proprietorship) was as follows.
guapka [62]

Answer:

Explanation:

From the information povided:

(a) To compute the amount of goodwill paid by Chicago Corporation

Particulars                                            Amount ($)

Accounts Receivable                           100000

Inventory                                               170000

Plant & Equipment                               400000

Land                                                        90000

Customer List                                            4000

Trade Names                                          <u> 16000</u>

     NET ASSETS  (A)                             <u>780000</u>

<u />

Current liabilities                                     76000

Non-current liabilities                            <u>160000 </u>

      NET LIABILITIES (B)                        <u> 236000</u>

∴

PURCHASE  CONSIDERATION (A -B)   544000

<u>Less:</u>  Cash Paid                                    <u>  580000</u>

          GODWILL                                    <u>    36000 </u>

<u />

b)

In the books of Chicago Corporation, the Journal Entry to record the purchase of Naperville Company.

Account Name                                       Dr.                      Cr.

Accounts Receivable A/C                  100000

Inventory A/C                                       170000

Plant Equipment  A/C                          400000

Land A/C                                                 90000

Customer List A/C                                    4000

Trade Names A/C                                   16000

Goodwill A/C                                           36000

Current liabilities A/C                                                       76000

Non-Current Liabilities A/C                                             160000

Cash A/C                                                                          580000

c)

The minimum required amount of goodwill that Chicago can amortize by the end of 2020 is $3600.This is because the amortization can take place for a period of 10 years.

<u />

8 0
2 years ago
A company prepares its income statement by listing all sources of revenues and gains at the top, followed by a list of all expen
lapo4ka [179]

Answer:

Single step income statement

Explanation:

The single step income statement is the simplest form in which an income statement is prepared, e.g.

Revenues:

  • Sales revenues $100
  • Interest income $20               $120

Expenses:

  • Rent expense $30
  • Utilities expense $10
  • Wages and salaries $60       <u>($100)</u>

Income before taxes                         $20

Tax expenses                              <u> ($4.20)</u>

Net income                                   $15.80

A multi-step income statement is more complex, since operating revenues and costs are reported first in order to determine operating income, then other revenues and expenses are introduced and income before taxes is calculated.

8 0
3 years ago
3 Balance sheet items for Nadew Travel Service were as follows at Dec. 31, 2018. Accounts payable Br. 23,100 Land Br. 90,000 Acc
deff fn [24]

Answer

1, 2018. Accounts payable Br. 23,100 Land Br. 90,000 Accounts receivables 52,000 Notes payable 100,900 Building 54,800

Explanation:

5 0
2 years ago
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