Answer:
must be long lived and used by the company in its normal operations
Explanation:
An assets is something that will help the company to generate value.
Answer:
<u>Equipment:</u>
Dr. Cr.
Depreciation Expense $5,520
Accumulated Depreciation $5,520
<u>Land:</u>
Land never depreciates, so there is no adjusting entry for the Land purchased on year end.
Explanation:
Year end is not given in the data so, it is assumed the December 31 is the end of the year
Equipment
Depreciation for the year = ( Purchase price - Residual value ) / useful life
Depreciation for the year = ( $32,000 - $4,400 ) / 5 years
Depreciation for the year = $5,520
Answer:
a. Market penetration
Explanation:
Market penetration strategy is a product promotion approach through which a company seeks to gain a greater share in markets it already operates. The strategy is used to increase sales volumes in existing markets.
Market penetration applies where similar goods and services exist. A company uses the low-price technique or present its products as superior as compared to those of its rivals. The objective is to draw customers' attention to the company's products. Advertising using special features and benefits presents the products as unique and superior, thereby attracting customers' attention.
Answer:
Mutual Funds are simply a way to pool money together and buy more stocks. You invest into a mutual fund along with many other people. Then your pooled money is invested by the manager of the mutual fund. They are generally conisdered safe as they are run by "stock gurus".
