Explanation:
The Journal Entry is given below:-
a. Cash Dr, 8400
Accounts receivable 8400
(Being the Cash received)
b. Supplies Dr, 2500
Office equipment 2500
(Being the reserve entry is recorded)
Supplies Dr, 2500
Accounts payable 2500
(Being the supply is purchased)
Answer:
BEP 378,000
Explanation:
60 - 24 = 36 contribution margin
every units contribution $36 dollars
36 / 60 = 0.6 CM ratio
each dollar of sale generate 60 cents of contribution
226,800 fixed cost / 0.6 CMR = 378,000 BEP in dollars
Answer:
A) tactics
Explanation:
While a marketing strategy is the overall plan, marketing tactics are the actions required to carry out the strategy. In other words, the marketing strategy sets the goals, while the marketing tactics are the activities necessary to execute the strategy and achieve those goals.
Answer:
This is very simple, they should start billing their clients right away.
You don't have to bill your clients for the full legal expenses, but they for sure need to start making some money.
It is very normal that new businesses don't get enough revenue to cover their operation expenses right away. Even for big corporations, like Amazon and FB, it may take years to reach the break even point.
When you open a business you have to keep some money as reserve to cover some expenses for at least a few months.
Answer:
The market that characterizes the industry in which Forey competes is a market where competition is at its greatest possible level and it is a perfectly competitive market and the reason is because its returns decrease with the entering of new firms, also four-firm concentration ratio and Herfindahl Hirschman index are both quite small, so no one has significant market power to set or even influence the market price. In the short-run Forey Inc’s profit will decrease as more and more new firms enter the market and in the long-run Forey Inc will receive only normal (zero) economic profit.
