Answer:
$428,000
Explanation:
The only movement that impact the total assets it's:
Kirk Corporation acquired equipment costing $3,000, promising to pay cash for it in 60 days.
Due to the equipment was finance by the supplier by 60 days it has a positive impact on assets and liabilities.
The others transactions:
- Kirk Corporation purchased $1,750 of supplies for cash, it has no impact because the supplies was paid with cash, so the impact on assets is zero.
- The land had cost $7,500 and it was sold for $7,500 cash. The land it's a long term assets that was sold for cash, so it was converted to current assets in money.
- Kirk Corporation signed an agreement, the impact it's in the next month, so it has no impact the current month analized.
Answer:
40%
Explanation:
The four firm concentration ratio calculates the concentration ratio of the 4 largest firms in an industry.
Four firm concentration ratio = 0.2 + 0.1 + 0.07 + 0.03 = 0.4 = 40%
Answer: Positive ways; Barriers in connecting is slightly no more, Negative ways; Increase in fraud and cyber theft
Explanation:
The internet has changed the conduct and cordination of global business in many ways both positively and negatively. Considering the positive ways
Positive Ways: Barriers in connecting is slightly no more: connecting to one another has been made easy to do business recently, people in continents can carry out a transaction and a trade under minutes of interaction and get the goods and services exchanged among each other immediately.
Negative ways; Increase in fraud and cyber theft; despite the swift nature of doing business now, it has also Increased fraud as some people disguise themselves to be traders and businessmen just to collect people's money.
Answer:
1. Supply will decrease
Explanation:
Due to the basic economic principle that when supply superceeds the demand for goods and services, the prices of such goods and services fall. As a result of this, and an expected increase in future prices, the supply of coffee beans by coffee merchants to the markets will decrease.
This is because the merchants want to receive higher profits and to do so, they will withhold supply to sell in the next six months when the price is higher.
Answer:
The journal entries are made as follows;
Explanation:
March 2. Account Receivable-Mcleena Co. Dr.$800,000
Sales Revenue Cr.$800,000
Cost of Goods Sold Dr.$540,000
Inventory Cr.$540,000
March 6. Sales Revenue Dr.$140,000
A/R-Mcleena Co. Cr.$140,000
Inventory Dr.$94,000
Cost of Goods Sold Cr.$94,000