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Kryger [21]
2 years ago
9

On august 1, harvey company offered to pay $13,000 for equipment that was advertised as being sold for $19,000 by carrone compan

y. the equipment had a retail value of $23,000 on that day. on august 10, carrone company offered to sell the equipment for $14,700, and harvey company agreed to buy it at that price. at what value will harvey company record the equipment on the books?
Business
1 answer:
Fynjy0 [20]2 years ago
4 0

Answer: Harvey company will record the equipment at $14,700 is its books.

We usually record equipment at the actual price at which it was bought. Even though Harry company was willing to pay only $13,000, it actually went ahead and paid $14,700 to purchase the equipment.

We don’t consider the retail price here, since Harvey company did not buy the equipment from the retail market.

In the advertisement, Carrey Company probably put a value of $19,000 (by considering the retail rate) to see the market response to buy the at that price. So, we don’t consider that either.

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When Frito-Lay introduced its Stax brand of potato chips. These chips were meant to compete directly against Pringles. The inten
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Answer:

B, penetration pricing

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Penetration helps to discourage new product entrance into the market thus giving the product a large/high stock turnover throughout the product's distribution channel.

In the above question, Frito lay introduced its chips at a low price of 69cents for a period of time (first few months, say 3 or 4 months for example) in order to gain market share quickly.

Cheers

3 0
3 years ago
John Porter is an hourly employee of Motter Company located in New York City. This week, Porter had to travel to the company's r
Ilya [14]

Answer:

1. Overtime rate is $20.175

2. Total earnings are $699.4

Explanation:

1. OT rate - Overtime is typically paid at a rate of 1.5 times the normal hourly rate

OT rate = 1.5 x $13.45

OT rate = $20.175

2. Total earnings for John Porter

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Week normal hours  = $13.45 x 40 hours  = +$538

Training session        = $20.175 x 5 hours  = +<u>$100.875</u>

Total earnings                                                   <u>$699.4</u>

8 0
3 years ago
3.A lockbox plan is most beneficial to firms that a. have widely dispersed manufacturing facilities. b. have a large marketable
kramer

Answer:

D) have customers who operate in many different parts of the country.

Explanation:

A lockbox is basically a bank mailing address where a company's clients can send their payments to. It is similar to mailbox that receives letters, only that this one receives checks and cash. The bank is in charge of opening the lockbox and depositing the cash and checks to the company's account, and reporting the information.

7 0
3 years ago
Read 2 more answers
Delta Diamonds uses a periodic inventory system. The company had five one-carat diamonds available for sale this year: one was p
mote1985 [20]

Answer:

B. $2,300.

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The computation of the ending inventory using FIFO method is given below:

Since there are 5 diamonds and one is sold

So, the ending inventory units should be

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Now the ending inventory be

= 2 × $600 + 2 × $550

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= $2,300

Hence, the option b is correct

4 0
2 years ago
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