Answer:
World's journal entry to record the sales transaction is:
<em>Note Receivable ; Jax Recording Studio $8,200 (debit)</em>
<em>Sales Revenue $8,200 (credit)</em>
Explanation:
Music World is the seller and must recognize Revenue following the sale.The Revenue is initially recognized at the value of sale of $8,200. Music World must also recognize an Asset on the promissory note signed to the value of $8,200.
Answer:
<u>Marketing mix</u>
Explanation:
Marketing mix refers to that blend of marketing factors and aspects so as to accomplish marketing goals, which is inducing customers to purchase the products coupled with customer satisfaction.
The four essential P's of marketing mix i.e essential marketing factors are, Product, price, place and promotion.
Product refers to a bundle of utilities, price being the consideration charged for the product, place refers to the markets where product is made available and promotion refers to modes of promotion such as sales promotion, advertising and publicity and other forms.
In the given case, the coffee maker serves a new target market (place), with changed product, packaging design and coffee itself (product), employing advertising price discounts and distributing new product samples at coffee shops (price and promotion).
Thus, in short , the manufacturer changed the marketing mix for his product i.e coffee.
Answer:
30.26%
Explanation:
Return on equity measures how profitable a business is, when compared to it's equity.
Return on equity is computed as;
= Net income / Shareholder's equity
Where,
Shareholder's equity = Company's assets - Debts
= $114,900,000 / ($730,200,000 - $350,496,000)
= $114,900,000 / $379,704,000
= 30.26%
Answer:
1. The demand for lemonade is elastic since, the rise in price of lemonade led to the fall in the quantity demanded of the lemonade.
2. price elasticity of demand is given by = (dQ/dP)*(P/Q)
dQ= change in quantity demanded = Q/2
dP= 1.25-1 = 0.25
putting in the equation for price elasticity,
Price elasticity of demand = [(Q/2)/ 0.25]* [1/Q]
= 1/0.5 = 2
Thus, the price elasticity of demand for lemonade is 2, which is elastic.
3. The increase in price is shown by the movement along the demand curve below:
4. Since the lemons and lemonade are complements, an increase in cost of lemons would increase the cost of lemonade and thus, increasing the price of lemonade and reducing its supply. it would lead to a backward shift in the supply curve of lemonade.
Answer:
subrogation clause
Explanation:
The subrogation clause establishes an insurance company's rights to collect the money it paid for an event relating to an insurance contract from the individual or business that was responsible for the event which resulted in loss, injury or damage to the insured.
In this case, Joe's title company has the right to collect the funds from the seller since it already paid a compensation to Joe. The whole purpose of having insurance is that your financial position is not affected by an unexpected event, but it is not meant to provide a profit for the insured.
