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vlada-n [284]
4 years ago
12

Sautéed, a restaurant in california, specializes in sautéed food. the restaurant holds a highly popular bash, featuring well-kno

wn djs, on the last saturday night of every month. the restaurant offers event-passes to frequent customers (who must have been billed at least $3,000 during the current month) for free. a limited number of passes are available to other customers at a high price one day prior to the event. which principle of influence is the restaurant using?
Business
1 answer:
Inga [223]4 years ago
6 0

Six key principles of influence according to Dr. Robert Cialdini are<span> 1) reciprocity 2) commitment and consistency 3) social proof 4) authority 5) liking and 6) scarcity.  He proposed a seventh principle he called </span>unity principle “the more we identify ourselves with others, the more we are influenced by these others.”

Of the above-mentioned principles, Sauteed uses the no. 1 – reciprocity. <span>Reciprocity is returning a favor or g</span>iving back to others the form of a behavior, gift, or service that they have received first. In our example, Sauteed restaurant offers event passes to frequent customers (billed $3,000 during the current month). Sauteed believe that in doing so, there will be surprising difference to their business– like clients may recommend them or visit their place more often or more tips.

<span> </span>

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Required Information
ycow [4]

Answer:

ACME Fireworks

Income Statement for the period ended January 31, 2021

Sales revenue                        $292,000

Cost of goods sold                   160,360

Gross profit                             $131,640

Operating expenses:

Salaries                      52,700

Bad debts expense        600   53,300

Net income                             $78,340

Explanation:

a) Data and Calculations:

ACME Fireworks

Accounts                               Debit        Credit

Cash                                     $25,800

Accounts Receivable             47,600

Allowance for Uncollectible Accounts  $4,900

Inventory                                20,700

Land                                       53,000

Equipment                              18,500

Accumulated Depreciation                     2,200

Accounts Payable                                 29,200

Notes Payable (68, due April 1, 2022) 57,000

Common Stock                                     42,000

Retained Earnings                                30,300

Totals                               $165,600 $165,600

Inventory

Account Titles               Debit        Credit

Beginning balance     20,700

Accounts payable    154,000

Cost of goods sold                      $77,300

Cost of goods sold                        83,000

Sales

Account Titles               Debit        Credit

Accounts receivable                 $142,000

Cash                                              15,000

Accounts receivable                   135,000

Income summary    $292,000

Cost of goods sold

Account Titles               Debit        Credit

Inventory                   $77,360

Inventory                     83,000

Income summary                       $160,360

Salaries $52,700

Allowance for Uncollectible Accounts

Account Titles               Debit        Credit

Beginning balance                       $4,900

Bad Debts expense                          600

Ending balance         $5,500

Transaction Analysis:

January 2 Cash $9,400 Gift Cards Liability $9,400

January 6 Inventory $154,000 Account payable $154,000

January 15 Accounts receivable $142,000. Sales revenue $142,000

Cost of the units sold $77,300 Inventory $77,300

January 23 Cash $126,100 Accounts receivable $126,100

January 25 Accounts payable $97,000 Cash $97,000

January 28 Uncollectible Allowance $5,500 Accounts receivable $5,500

January 30 Cash $15,000 Accounts receivable $135,000 Sales revenue $150,000

Cost of the units sold $83,000 Inventory $83,000

January 31 Salaries expense $52,700 Cash $52,700

5 0
3 years ago
Which type of financial statement should you look at if you want to see a company's profits and losses over a specific period of
yKpoI14uk [10]

Answer:

A.Income statement

Explanation:

The income statement of a institution or business that shows the expenses, costs and the incomes during a certain period of time, it is often done quarterly or annually in order to present the tax declaration, it is also known as "profits and loss statement" because it shows exactly if the business had profits or lost money during that period of time.

8 0
3 years ago
Alicia is the sole shareholder and CEO of ABC, Inc., an S corporation that is a qualified trade or business. During the current
Advocard [28]

Answer: $225,000

Explanation:

Given that,

Net income = $325,000

Alicia’s salary = $100,000

Dividends = $250,000

Reasonable compensation = $200,000

Actual Reasonable compensation = Reasonable compensation - Alicia’s salary

                                                         = $200,000 - $100,000

                                                         = $100,000

Alicia’s qualified business income = Net income - Actual Reasonable compensation

                                                         = $325,000 - $100,000

                                                         = $225,000

3 0
3 years ago
Eastman Company had a $400 credit balance in Allowance for Doubtful Accounts at December 31, 2012, before the current year's pro
Reptile [31]

Answer: Please see explanation column

Explanation:

Uncollectible amount = Amount x percentage of the uncollectible  amount

$170,000 x 1% ) + (15,000 x 3% ) + ( 12,000 x 6% ) + (5,000 x  12% ) + (9,000 x 30%) = 1700+450+720+600+2700= $6,170

Credit Balance from Eastman =  $400

Adjustment required = $6170 - $400 (credit) = $5,770

Journal to record adjusting entry on December 31, 2012 for recognized bad debts expense.

a) Accounts Titles & Explanation    Debit                 Credit

Bad Debt Expense                  $5, 770  

Allowance for Doubtful Accounts                     $5,770

b Allowance for Doubtful Accounts account=  $400 debit balance before the current year's provision for uncollectible accounts.

Adjustment required = $6170 +$400 (debit) = $6,570

Accounts Titles & Explanation Debit                     Credit

Bad Debt Expense                 $6,570  

Allowance for Doubtful Accounts               $6,570

8 0
4 years ago
A _____________ is a matrix or two-dimensional barcode first designed for the automotive industry in japan.?
valina [46]
The answer is: QR CODE
5 0
3 years ago
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