Answer:
No adjusting entry required
Explanation:
When the contract was formed and advance was received the company must had recorded the following entry:
Dr Cash Account $5000
Cr Unearned Revenue $5000
Now it is the year end and till now the goods are not delivered which means advance that was received is still our unearned revenue So no further entry is required until the delivery of the goods ordered to the customer.
Correct entry is "No adjusting entry required"
Answer:
market segment.
Explanation:
Marketing can be defined as the process of developing promotional techniques and sales strategies by a firm, so as to enhance the availability of goods and services to meet the needs of the end users or consumers through advertising and market research.
Thus, it comprises of all the activities such as, identifying, anticipating set of medium and processes for creating, promoting, delivering, and exchanging goods and services that has value for customers. It typically, involves understanding customer needs, building and maintaining healthy relationships with them in order to scale up your business.
In marketing, each market segment comprises of people (consumers) who are relatively similar to each other in terms of their consumption behavior and preference or choice with respect to goods and services.
Answer:
A) The account receivables turnover is 15, and B) the number of days sales in receivables is 24.3 days.
Explanation:
A) FORMULA FOR ACCOUNT RECEIVABLES TURNOVER =
NET SALES / AVERAGE ACCOUNT RECEIVABLES
Given information -
Net sales = $1500,000
Average account receivables = $100,000
Putting the values in formula -
= $1500,000 / $100,000
= 15
B) FORMULA FOR NUMBER OF DAYS SALES IN RECEIVABLES =
365 / ACCOUNT RECEIVABLES TURNOVER
= 365 / 15
= 24.3 DAYS
SLPS trade securities on their own behalf (not for someone else).