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3 years ago

Is it possible for a firm to become too big to be competitive and earn profit?

1 answer:

6 0

The answer is yes.
Its possible for a firm to become too big to be competitive and earn profit. They can be so large and successful that they no longer compete with small businesses anymore and might inhibit the ability to continue earn their profit.

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Trial Balance September 30, 2022

Sergeeva-Olga [200]

Answer:

T- accounts:

Cash

Date Account Title Debit Credit

Oct. 1 Balance $23,640

Oct. 5 Accounts receivable 1,310

Oct. 15 Salaries $1,110

Oct. 17 Service Revenue 580

Oct. 20 Accounts Payable 1,830

Oct. 29 Dividend 250

Oct. 31 Utilities 420

Accounts Receivable

Date Account Title Debit Credit

Oct. 1 Balance $7,040

Oct. 5 Cash $1,310

Oct. 10 Service Revenue 5,410

Supplies

Date Account Title Debit Credit

Oct. 1 Balance $4,270

Equipment

Date Account Title Debit Credit

Oct. 1 Balance $10,170

Accounts Payable

Date Account Title Debit Credit

Oct. 1 Balance $9,240

Oct. 20 Cash 1,830

Unearned Service Revenue

Date Account Title Debit Credit

Oct. 1 Balance $3,270

Common Stock

Date Account Title Debit Credit

Oct. 1 Balance $19,440

Retained Earnings

Date Account Title Debit Credit

Oct. 1 Balance $13,170

Service Revenue

Date Account Title Debit Credit

Oct. 10 Accounts receivable $5,410

Oct. 17 Cash 580

Salaries Expense

Date Account Title Debit Credit

Oct. 15 Cash $1,110

Dividend

Date Account Title Debit Credit

Oct. 30 Cash $250

Utilities Expense

Date Account Title Debit Credit

Oct. 30 Cash $420

Explanation:

a) Data and Calculations:

Trial Balance September 30, 2022

Account Title Debit Credit

Cash $23,640

Accounts Receivable 7,040

Supplies 4,270

Equipment 10,170

Accounts Payable $9,240

Unearned Service Revenue 3,270

Common Stock 19,440

Retained Earnings 13,170

$45,120 $45,120

b) Journal Entries:

Oct. 5:

Debit Cash $1,310

Credit Accounts Receivable $1,310

To record cash receipts from customers.

Oct. 10:

Debit Accounts Receivable $5,410

Credit Service Revenue $5,410

To record service revenue.

Oct. 15:

Debit Salaries Expense $1,110

Credit Cash Account $1,110

To record payment of salaries.

Oct. 17:

Debit Cash Account $580

Credit Service Revenue $580

To record performance of services for cash.

Oct. 20:

Debit Accounts Payable $1,830

Credit Cash Account $1,830

To record the payment of cash on account

Oct. 29:

Debit Dividend $250

Credit Cash Account $250

To record the payment of cash dividend.

Oct. 31:

Debit Utilities $420

Credit Cash Account $420

To record the payment for Utilities.

8 0

3 years ago

Variable $100,000 $ 25,000 Fixed 150,000 75,000 Total $250,000 $100,000 What is the initial selling price needed to obtain a tar

hodyreva [135]

Answer: $8.00

Explanation:

Details missing in question are:

These costs are for 50,000 units.

$250,000 is manufacturing cost. $100,000 is administrative cost.

The total manufacturing cost is shown to be $250,000 above.

A profit of $50,000 is needed in addition to this cost as well as the administrative cost of $100,000.

Total revenue expected is therefore:

= 250,000 + 100,000 + 50,000

= $400,000

50,000 units are to be sold so to make a revenue of $400,000, each unit should be sold for:

= 400,000 / 50,000

= $8.00

8 0

2 years ago

Generally, the payment of an accelerated death benefit is _______ to a recipient if the benefit payment is qualified.

IrinaK [193]

The correct answer is Tax free.

An Accelerated Death Benefit (ADB) enables the holder of a life insurance policy to obtain a portion of the death benefit from the insurer before passing away. The policyholder must typically have a terminal illness with a life expectancy of two years or fewer.

<h3>How are benefits for hastened death paid?</h3>

A lump amount may be provided as part of some hastened death benefits. With a benefit for a terminal disease, this happens more frequently. Payments for chronic illnesses are more frequently made. According to Schelhaas, some accelerated death benefit riders are simple because they pay a specific portion of the death benefit.

To know more about Insurance , visit: brainly.com/question/27822778

#SPJ4

8 0

1 year ago

Sean works in the human resource department of a well-known and highly respected maker of athletic equipment. He suggests that t

tester [92]

Answer: b. The company will be flooded with applications from individuals who are barely qualified.

Explanation:

By putting job advertisements on popular websites which are full of people looking for jobs, the company will attract people who are underqualified but apply anyway on the off chance that they are called for an interview. The company will incur costs sifting through the applications to find suitable candidates.

This will be a waste of the company's resources as those resources could have been directed at getting prospective employees that would be a better fit with the company and have the relevant qualifications. This could have been done by going to a recruiting agency for instance.

7 0

3 years ago

At December 31, 2022, the following information (in thousands) was available for Ayayai Inc.: ending inventory $22,000; beginnin

Anuta_ua [19.1K]

Answer:

Inventory turnover in days = 43.59 days

Inventory turnover (No of times)= 8.37 times

Explanation:

<em>Inventory turnover days is the average length of time it takes a business to sell its inventory before replacement.</em>

Inventory turnover in days

= Average inventory /Cost of goods sold × 365 days

<em>Average inventory = (Opening Inventory + closing inventory)/2</em>

<em>Average inventory </em>

= (21,000 + 22,000)/2

= 21,500

<em>Inventory turnover in days</em>

(21,500/180,600) × 365 days

=43.597 days

Inventory turnover (No of times )

= Cost of goods sold/Average inventory

= 180,600/21,500

= 8.37 times

4 0

2 years ago