Answer:
b) balance sheet
Explanation:
Balance sheet: The assets liabilities and stockholder equity are reported in the balance sheet. The accounting equation that is displayed below is used in this:
Total assets = Total liabilities + stockholder equity
The balance sheet debit and credit side should always be equal and balanced.
In addition, it is always prepared on the date specified plus it is also reflects the financial position, financial performance of the company.
It is a false statement that the existence of financial middlemen and financial intermediaries increases the efficiency of the financial market
<h3>Who are financial intermediaries?</h3>
This refers to those entities that acts as the middleman between two parties in a financial transaction such as a commercial bank, investment bank, mutual fund, or pension fund. They offer a number of benefits to the average consumer such as safety, liquidity, and economies of scale involved in banking and asset management.
However, It is a false statement that the existence of financial middlemen and financial intermediaries increases the efficiency of the financial market because only the buyers and seller influence an efficiency of the financial market.
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Answer:
Transaction price of the arrangement for Blair Biotech is $10,000,000.
2) Journal Entries for Blair.
Date Accounts Debit$ Credit$
12/20/2017 Accounts Receivable $10,000,000
License Revenue $10,000,000
01/15/2018 Cash $10,000,000
Accounts Receivable $10,000,000
Explanation:
The pricing strategy that calls for a new product being priced high to make optimum profit while there is little competition is called as Skimming price strategy
Skimming Pricing, also known as price skimming, is a pricing strategy that sets the price of new products higher and lowers them when competitors enter the market. Skimming prices are the opposite of penetration prices, which set lower prices for newly launched products in order to build a large customer base from the beginning.
Skimming pricing strategy refers to setting relatively high initial prices for new products or services for early adopters who are not price sensitive when there is a strong relationship between price and perceived quality. .. Prices can go down over time.
An example of a skimming strategy can be found primarily when major technology companies such as Apple, Samsung, and Sony are developing new technologies that are known to be in high demand.
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Answer:
A. Dr Petty cash fund $500
Cr Cash $500
B. Dr Office supplies expenses $212
Dr miscellaneous selling expense $156
Dr miscellaneous administrative expense $61
Dr Cash short and over 31
Cr Petty cash fund $460
Dr Petty cash fund $460
Cr Cash $460
Explanation:
A. Preparation of the journal entry to establish the petty cash fund.
Dr Petty cash fund $500
Cr Cash $500
(To establish the petty cash fund)
B. Preparation of the journal entry to replenish the petty cash fund.
Dr Office supplies expenses $212
Dr miscellaneous selling expense $156
Dr miscellaneous administrative expense $61
Dr Cash short and over 31
($500-$212+$156+61+$40)
Cr Petty cash fund $460
($212+$156+$61+$31)
(To replenish the petty cash fund)
Dr Petty cash fund $460
($212+$156+$61+$31)
Cr Cash $460