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omeli [17]
3 years ago
12

Brad is a sales representative for a Kettle Chips and is preparing for a Super Bowl promotional campaign. He's contacting each o

f his grocery and convenience accounts with an opportunity to install an end-of-aisle display with graphics of the Super Bowl teams and a display of several varieties of chips. This is known as _____, a type of trade-oriented promotion.
Business
1 answer:
alexdok [17]3 years ago
7 0

Answer:

point-of-purchase advertising.

Explanation:

In this scenario, Brad is contacting each of his grocery and convenience accounts with an opportunity to install an end-of-aisle display with graphics of the Super Bowl teams and a display of several varieties of chips.

Hence, this is known as point-of-purchase advertising, a type of trade-oriented promotion.

A point of purchase advertising can be defined as a marketing strategy used by retailers, which typically involves the placement of end user goods e.g graphics of the Super Bowl teams strategically placed in a supermarket aisle for retail customers.

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Pincus Associates uses the allowance method to account for bad debts. During 2021, its first year of operations, Pincus provided
il63 [147K]

Answer:

What journal entry did Pincus record to write off uncollectible accounts during 2021

In 2021, the company wrote off uncollectible accounts of $10,800.  

Dr Allowance for Uncollectible Accounts $ 10,800

Cr Accounts receivable $ 10,800

and to recognize bad debt expense for 2021?

Pincus estimates that 5% of the accounts receivable balance at 12/31/2021 will prove uncollectible  

Dr Bad Debt Expense $ 1,520

Cr Allowance for Uncollectible Accounts $ 1,520

Explanation:

Pincus provided a total of $268,000 of services on account  

Dr Accounts receivable $ 268,000  

Cr Sales $ 268,000  

In 2021, the company wrote off uncollectible accounts of $10,800.    

Dr Allowance for Uncollectible Accounts $ 10,800  

Cr Accounts receivable $ 10,800  

If the company use the allowance method to account for bad debts, at the moment of the write off the company debits the Allowance for Uncollectible Accounts that was previously estimated with a credit to account receivable, to reflect the new accounts receivable balance.

By the end of 2021, cash collections on accounts receivable totaled $226,800  

Dr CASH $ 226,800  

Cr Accounts receivable $ 226,800  

BALANCE  

Dr Accounts receivable $ 30,400  

Pincus estimates that 5% of the accounts receivable balance at 12/31/2021 will prove uncollectible  

Dr Bad Debt Expense $ 1,520  

Cr Allowance for Uncollectible Accounts $ 1,520  

5 0
3 years ago
If the going cap rate for an office building in a particular market is 6.25%, what will the purchase price be if the NOI on the
kirill [66]

Answer:

$5,200,000

Explanation:

We know that

Cap rate = Net operating income ÷ Purchase price of the property

where,

Cap rate is 6.25%

And, the net operating income on the property is $325,000

So, the purchase price of the property would be

= $325,000 ÷ 6.25%

= $5,200,000

We simply applied the above formula to find out the purchase value of the property

8 0
3 years ago
Pinewood Company purchased two buildings on four acres of land. The lump-sum purchase price was $1,200,000. According to indepen
bezimeni [28]

Answer:

Initial valuation of the building A=$540000

Initial valuation of the building B=$300000

Initial valuation of the land=$360000

Explanation:

First,we will calculate the total fair value of all assets:

Total fair value of assets=Fair value of building A+Fair value of building B+Fair value of land

Total fair value of assets=$585,000+$325,000+$390,000

Total fair value of assets=$1,300,000

Initial valuation of the building A= \frac{Fair\ value\ of\ building\ A}{Total\ Fair\ value} *lump-sum

Initial\ valuation\ of\ the\ building\ A=\frac{\$585,000}{\$ 1,300,000}*\$1,200,000\\Initial\ valuation\ of\ the\ building\ A=\$540000

For building B:

Initial\ valuation\ of\ the\ building\ B=\frac{\$325,000}{\$ 1,300,000}*\$1,200,000\\Initial\ valuation\ of\ the\ building\ B=\$300,000

For Land:

Initial\ valuation\ of\ the\ building\ land=\frac{\$390,000}{\$ 1,300,000}*\$1,200,000\\Initial\ valuation\ of\ the\ building\ land=\$360000

Check of answer;

Sum of all initial Values= Lump-Sum

$540000+$300000+$360000=$1,200,000

$1,200,000=$1,200,000

5 0
3 years ago
The following transactions occurred during June: June 1 Purchased two new maintenance carts (noncurrent assets) on account at $7
Helen [10]

Answer:

Journal Entry to record the purchase of the carts on June 1:

June 1:

Debit Maintenance Equipment $1,500

Credit  Accounts Payable $1,500

To record the purchase of 2 maintenance carts on account.

Explanation:

a) Data and Analysis:

June 1 Maintenance Equipment $1,500  Accounts Payable $1,500

June 8 Cash $500 Unearned Service Revenue $500

June 15 Utility Expense $300 Utility Payable $300

June 20 Accounts Receivable $1,500 Service Revenue $1,500

June 30 Cash $500 Accounts Receivable $500

8 0
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Ambiance Inc. buys back 3,000 shares of its $10 par value common stock from investors at $45 per share. This stock repurchase wo
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