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Studentka2010 [4]
2 years ago
7

Germaine operates a florist shop in a busy section of town in which there are many competing florists, each selling somewhat uni

que floral arrangements, earning zero economic profits in the long run. Germaine is operating in a(n):
Business
1 answer:
trasher [3.6K]2 years ago
4 0

Germaine is operating in a perfectly competitive market. As there are many competing florists, each selling somewhat unique floral arrangements, earning zero economic profits in the long run.

<h3>What is perfectly competitive market?</h3>

Perfectly competitive market is considered when all the competitors have same items and has no influence on pricing, and companies can enter and exit the market at any moment.

The market without restriction, customers have perfect or complete information, and companies are unable to set prices, according to economic theory.

Thus, the situation is of perfectly competitive market.

For more details about perfectly competitive market, click here

brainly.com/question/26028930

#SPJ1

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J Corporation has two divisions. Division A has a contribution margin of $79,300 and Division B has a contribution margin of $12
Allushta [10]

Answer:

Net income= $98,200

Explanation:

Giving the following information:

Division A:

The contribution margin of $79,300

Division B:

Contribution margin of $126,200.

The total traceable fixed costs are $72,400 and total common fixed costs are $34,900.

<u>To calculate the net operating income, we need to deduct from the combined contribution margin the fixed costs.</u>

<u></u>

Net income= (79,300 + 126,200) - 72,400 - 34,900

Net income= $98,200

7 0
3 years ago
Capital brought into a business in exchange for a percent of ownership in the business is called
neonofarm [45]

Answer:

D: Equity financing

Explanation:

Equity is ownership in the business - equity financing means giving up ownership in order to secure financing.

3 0
3 years ago
Sami nguyen is responsible for two departments that continually set conflicting goals. sami must get involved in ____ to achieve
Paul [167]
<span>Sami must get involved in communicating between departments. He needs to set meetings so they can reach a joint goal and plan to get there. He needs to foster teamwork.</span>
6 0
3 years ago
Which of the following statements is accurate? Group of answer choices A cost-leadership competitive strategy increases the thre
Katen [24]

Answer:

The correct statement is expressed by option B - Firms with a low-cost position can reduce the threat of rivalry in an industry.

Explanation:

Firms with a low-cost position can reduce the threat of rivalry in an industry based on these reasons:

Firstly, these firms can decide to set their prices to be the same as the prices of higher-cost competitors.

Secondly, low-cost firms can decide to price their goods or services a little bit below the prices of their high-cost rivals.

8 0
3 years ago
Ivanhoe Windows manufactures and sells custom storm windows for three-season porches. Ivanhoe also provides installation service
Anna71 [15]

Answer:

Ivanhoe Windows

a. Journal Entries:

September 1, 2020:

Debit Cash $1,920

Credit Sales Revenue $1,920

To record the sale of windows to Geraths.

Debit Cost of goods sold $1,120

Credit Inventory $1,120

To record the cost of goods sold.

October 15, 2020:

Debit Cash $450

Credit Installation Revenue $450

To record the completion of installation service.

b. Journal Entries:

September 1, 2020:

Debit Cash $1,920

Credit Sales Revenue $1,896

Credit Unearned Revenue $24

To record the sale of windows to Geraths.

Debit Cost of goods sold $1,120

Credit Inventory $1,120

To record the cost of goods sold.

October 15, 2020:

Debit Cash $450

Debit Unearned Revenue $24

Credit Installation Revenue $474

To record the completion of installation service.

c. If Geraths is unable to develop a reliable estimate for the fair value of the installation:

Journal Entries:

September 1, 2020:

Debit Cash $1,920

Credit Sales Revenue $1,920

To record the sale of windows to Geraths.

Debit Cost of goods sold $1,120

Credit Inventory $1,120

To record the cost of goods sold.

October 15, 2020:

Debit Cash $450

Credit Sales Revenue $450

To record the completion of installation.

Explanation:

a) Data and Calculations:

July 1, 2020, Contract Price = $2,370

Standalone selling price of window = $1,920

Cost of the window = $1,120

Standalone selling price of installation service = $590

Attributed selling price of installation service = $450 ($590 = $140)

b) Estimated standalone value of the installation = estimated cost + 20% on cost

= $400 + 20%  = $480 ($400 * 1.2)

Separate performance values:

Sale of window = $1,920   = $1,896 ($1,920/$2,400 * $2,370)

Installation =             480   =      474 ($480/$2,400 * $2,370)

Total =                 $2,400  = $2,370

c. If Ivanhoe Windows is unable to develop a reliable estimate for the fair value of the installation, both payments received will be attributed to the Sales Revenue without identifying separate performance values.

6 0
2 years ago
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