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IrinaK [193]
3 years ago
13

1. Does the selected business have differentiated products or services? If so, what is the basis for this differentiation from t

he competition?
Business
1 answer:
Brut [27]3 years ago
8 0

Answer: You can know if you have differentiated products if we have a quality that stands out from the other competitors.

For example: Our service time is less than the competition and we also give gifts to our buyers, things that the competition does not do.

The basis for differentiation is to look for that quality that the competition does not have and that adds value to what we are doing.

You might be interested in
On May 1, a two-year insurance policy was purchased for $26,400 with coverage to begin immediately. What is the amount of insura
Ket [755]

Answer:

$8,800

Explanation:

Calculation for What is the amount of insurance expense that would appear on the company's income statement for the first year ended December 31

First step is to calculate insurance amount per year

Insurance=$26,400/2 years

Insurance= 13,200

Second step is to calculate the insurance value per months

Insurance value=13,200/12 months

Insurance value=1,100

Now let calculate insurance expense

Insurance expense =$1,100 x 8 months

Insurance expense = $8,800

Note that May 1 to December 31 will give us 8 months

Therefore the amount of insurance expense that would appear on the company's income statement for the first year ended December 31 will be $8,800

8 0
3 years ago
. Describe two things you can do to make sure you use credit responsibly. Explain why these things are important.
crimeas [40]
- Limit the cards you open: limiting the card you open reduce you from using your credit card for to many purchases
- Never carry a balance: make paying with cash your first method of payment
6 0
3 years ago
You have been asked to help King Company make the necessary journal entry to record the purchase of office furniture for a $170
Marina CMI [18]

Answer:

Debit Office Furniture account    $710

Credit Cash account                    $170

Credit Accounts payable             $710

Being entries to recognize office furniture partly paid for.

Explanation:

When items are purchased using cash, the corresponding credits in such transactions are recorded in the cash account. Where the item is purchased on account (or credit), the credit is posted to accounts payable.

Total worth of the office furniture = $170 + $540 = $710

The total debit for this will be recorded in the office furniture account.

Hence to recognize the transaction,

Debit Office Furniture account    $710

Credit Cash account                    $170

Credit Accounts payable             $710

Being entries to recognize office furniture partly paid for.

3 0
3 years ago
arter Company sells merchandise on account for $4,000 to Hannah Company with credit terms of 2/10, n/30. Hannah Company returns
timama [110]

Answer:

The answers are:

  • Cr Accounts receivable $4,000
  • Dr $3,332 Cash
  • Dr $68 Sales discount
  • Dr $600 returned merchandise (damaged)

Explanation:

The credit terms of 2/10, n/30 means that if Hannah Company pays within ten days, they will get a 2% discount, or they have thirty days to pay the full receipt.

Hannah's check should be for:

($4,000 - $600) x 0.98% = $3,400 x 0.98% = $3,332  

Arter Company should record the following entries:

Cr Accounts receivable $4,000

Dr $3,332 Cash

Dr $68 Sales discount

Dr $600 returned merchandise (damaged)

6 0
3 years ago
Machinery purchased for $69,600 by Tamarisk Co. in 2016 was originally estimated to have a life of 8 years with a salvage value
8_murik_8 [283]

Answer and Explanation:

The journal entries are shown below:

a. No journal entry is required

b. Depreciation expense $4,756  

          To Accumulated depreciation-Machinery $4,756

(Being depreciation expense is recorded)

Here the depreciation expense is debited as it increased the expense and credited the accumulated depreciation as it decreased the assets

Working

Accumulated depreciation is

= ($69,600 - $4,640 ÷ 8 × 5)

= $40,600

Now Revised depreciation is

= ($69,600 - $40,600 - $5,220) ÷ 5

= $4,756

7 0
2 years ago
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