Marketing is a vital process for entrepreneurs because no venture can become established and grow without a customer market. The process of acquiring and retaining customers is at the core of marketing.
Further, marketing provides an effective vehicle for achieving entrepreneurship within the corporation. As some have argued, marketing is the home for the entrepreneurial process. As a process, a firm's entrepreneurial orientation has three key dimensions: innovativeness, risk taking, and proactiveness.
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Developing effective marketing communications starts with analyzing and understanding the current clients and why they chose those products or services. In the first step from the marketing communication the company should get insights into when, where, why and how people purchase the products.T<span>he main focus of the marketing communication strategy is to gain awareness.</span>
Answer:
A.$262,500
B. Dr Construction in Process $285,000
Cr Deferred Tax $85,500
Cr Retained Earnings $199,500
Explanation:
A. Calculation to determine the amount of net income that would be reported in 2020
Using this formula
2020 Net income=Income before tax*Tax rate
Let plug in the formula
2020 Net income=$875,000*30%
2020 Net income=$262,500
Therefore the amount of net income that would be reported in 2020 is $262,500
B. Preparation of the entry(ies) that are necessary to adjust the accounting records for the change in accounting principle
Dr Construction in Process $285,000
Cr Deferred Tax $85,500
(30%*$285,000)
Cr Retained Earnings $199,500
($285,000-$85,500)
(To adjust the accounting records)
Answer: $0
Explanation:
Fron the question, we are informed that Patterson Co.’s Depreciation Expense is $20,200 and the beginning and ending accumulated depreciation balances are $150,100 and $155,100, respectively.
The cash paid for depreciation will be $0. It should be noted that depreciation has to do with the ear and tear of an asset because its usage therefore no cash will be paid for depreciation.
