Liabilty to pay only under certain conditions is

Following are the transactions of a new company called Pose-for-Pics.Aug. 1 Madison Harris, the owner, invested $8,000 cash and

Rama09 [41]

Answer:

Aug 1

Dr cash $8,000

Dr photography equipment $34,400

Cr Common Stock $42,400

Aug 2

Dr Prepaid Insurance $3,000

Cr Cash$3,000

Aug 5

Dr Office supplies $1,520

Cr Cash$1,520

Aug 29

Dr Cash $4,000

Dr photography fees earned $4,000

Aug31

Dr Utilities expense $884

Cr Cash $884

Explanation:

Preparation of the general journal entries for the above transactions.

Aug 1

Dr cash $8,000

Dr photography equipment $34,400

Cr Common Stock $42,400

(8,000+34,400)

Aug 2

Dr Prepaid Insurance $3,000

Cr Cash$3,000

Aug 5

Dr Office supplies $1,520

Cr Cash$1,520

Aug 29

Dr Cash $4,000

Dr photography fees earned $4,000

Aug31

Dr Utilities expense $884

Cr Cash $884

4 0

3 years ago

For which two main purposes do companies use social media?

Andrei [34K]

Corporations use social media for various purposes, but from the available options, the two ways they are most commonly used is for (B) advertise their services and check the market and (D) keep up with the latest industry news.

Advertising their services can lead to increased sales for corporations since people nowadays use their social media a lot. Keeping up with the latest industry news would also be helpful for corporations in using the right approach for advertising as well as creating product diversification that are suitable for the market they are aiming for.

7 0

3 years ago

What environmental force did Unibic use in segmenting its market

larisa86 [58]

Explanation:

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businessoperations managementoperations management questions and answersunibic india: from fastest growing niche cookie brand to a challenger?in 2007, lighthouse funds acquired a 25% stake in unibic from unibic australia for rs. 200 million. in 2010, unibic australia started making losses and wanted to withdraw from the indian market. at that time, unibic operated solely in the premium, high-margin cookies segment in india, with

Question: Unibic India: From Fastest Growing Niche Cookie Brand To A Challenger?In 2007, Lighthouse Funds Acquired A 25% Stake In Unibic From Unibic Australia For Rs. 200 Million. In 2010, Unibic Australia Started Making Losses And Wanted To Withdraw From The Indian Market. At That Time, Unibic Operated Solely In The Premium, High-Margin Cookies Segment In India, With

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Unibic India: From Fastest Growing Niche Cookie Brand to a Challenger?

In 2007, Lighthouse Funds acquired a 25% stake in Unibic from Unibic Australia for Rs. 200 million. In 2010, Unibic Australia started making losses and wanted to withdraw from the Indian market. At that time, Unibic operated solely in the premium, high-margin cookies segment in India, with a share of around 8%. It had a market presence primarily in south India and was exporting to the Middle East and Hong Kong. It had strategic alliances to make cookies for various private players. However, it was not yet making profits and was cash- strapped...

Over the next few years, Unibic grew rapidly. Its growth was primarily fueled by the changes sweeping through the Indian biscuit industry, wherein glucose biscuits that had dominated the market, gradually lost out to cream biscuits and cookies. The reasons for the shift included rising disposable incomes leading to an increase in consumption of premium biscuits; a larger number of manufacturing facilities of premium biscuits; growing health awareness; innovation bringing in attractive new products; rising affordability of cookies; and increase in eye-catching packaging...

Over the years, Unibic regularly introduced fresh and unique flavors, ultimately producing over 30 variants of cookies. Its products could be broadly categorized into chocolate, butter, milk, savory, and health. The company considered its target market to be between the ages of 14 and 40. It continued its efforts at innovation and produced new products which would appeal to its target market...

In 2015, Unibic had used celebrity endorsement by signing on south Indian actor Shruti Hassan, for over a year. It stated that it wanted someone who was relevant and would give the brand a boost to get to the numbers it wanted in the South...

Unibic didn’t advertise much in print media; TV remained the company’s core focus and got the largest chunk of its advertising spend, followed by digital and OOH. Instead of following the traditional strategy of having a similar marketing campaign across markets, Unibic employed a unique strategy in each market, thereby playing to its strengths in each market while keeping in mind the market conditions and consumption patterns...

From 2019 onward, Unibic started feeling the heat of the economic slowdown in India. The Indian economic slowdown of 2019 led to a serious and continuing decline in the country’s real estate, automobile and construction sectors and in overall consumption demand. The second quarter (July- September) of the financial year (April 2019-March 2020) witnessed a drastic fall in the gross domestic product (GDP) growth rate to 4.5%. The main reasons attributed to the fall in the GDP growth rate were – contraction in manufacturing activity, weakened investments, and lower consumption demand.

As of 2020, Unibic had the largest wire cut cookie manufacturing plant in India. The plant had the capability to manufacture 100 tonnes of cookies each day, with five production lines. While it used 98% of its production capability to produce its own brand, the rest was used to manufacture for private label brands – six in India and 10 across the world. It had annual revenu7 es of Rs. 5 billion. It also exported its products to more than 21 countries including across Australia, North America, the UK, and Europe, Asia, the Middle East, and New Zealand. It derived 45% of its earnings from the south of India.

4 0

2 years ago

Keynes would most likely oppose a plan for

Andrei [34K]

Keynes would most likely oppose a plan for government control of all the manufacturing companies.

5 0

3 years ago

Preparing a trial balanceSmithson Floor Coverings reported the following summarized data at December 31, 2018. Accounts appear i

Triss [41]

Answer:

Smithson Floor Coverings

Trial Balance

As at 31st December 31, 2018

Account Dr ($) Cr($)

Revenue 26,000

Salaries Payable 25,000

Equipment 36,000

Salaries Expense 1,600

Rent Expense 17,000

Cash 7,000

Common Stock 24,000

Accounts Receivable 3,600

Accounts Payable 2,200

Interest Payable 6,000

Dividend 16,100

Utilities Expense 1,900

83,200 83,200

Explanation:

In accounting, liability, Income and equity items have credit balances while assets and expenses have debit balances.

With that background, Start by picking balance relating to income and post them to the credit side of the trial balance, like revenue.

After that, pick balance relating to liability post them to the credit side of the trial balance, like trade payable.

Then pick balance relating to equity item, post them to the credit side of the trial balance, like common stock.

After this, pick items relating to asset and post them to the debit side of the trial balance, like trade receivables. Then, pick items relating to expenses and then post them to the debit side of the trial balance.

At the end, all income, liability and equity item balances are posted to the credit side of the trial balance while assets and expenses item balances are posted to the debit side. And two sides balance.

Remember the purpose of a trial balance is to check the arithmetical accuracy of ledger balances and that was exactly what was done above.

5 0

3 years ago