Whereas most men's suit brands focus on their craftsmanship and use of high-quality materials, Bluebird Suits distinguishes itself by emphasizing the durability of its products and deriding other suit makers as "delicate.". Bluebird is using positioning method of Competition.
<u>Explanation:</u>
Competition arises when two or more brands have a common objective. Bluebird and other brands are selling men's suits so they compete with each other.
Bluebird is trying to position its product in the market through competition. Bluebird is selling Men's suit. It trying to present its Suits different from other brands by focusing on the durability factor and telling that other brands are delicate. This will make customers believe that Suits of Bluebird will last long as compared to other brands. So, in this way, it can compete easily.
Answer:
Statement of retained earnings
For the year ended 2017
Retained earnings, January 1, 2017 $0
Add: Net Income $54,000
Less: Dividends $<u>22,000</u>
Retained earnings, December 31, 2017 <u>$32,000</u>
Statement of retained earnings
For the year ended 2018
Retained earnings, January 1, 2018 $0
Add: Net Income $59,000
Less: Dividends <u>$34,000</u>
Retained earnings, December 31, 2018 <u>$25,000</u>
Answer:
For example without public goods, we wouldn't have schools, parks, or rec centers, to name a few examples.
Explanation:
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Answer:
Dr Allowances for sales returns $600
Cr Sales refund payable $600
Being increase sales refund estimate
Explanation:
The sales refund account is liability account that should naturally have a credit balance.
In the current period the balance in the sales refund payable account should be $900 in total,but there is a balancing credit amount already in the account,intuitively, the amount needed to raise the balance in the account to $900 is $600.
The necessary entries required for the sales refund payable is shown below:
Dr Allowances for sales returns $600
Cr Sales refund payable $600
Being increase sales refund estimate
There is no adjusting entry to accounts receivable as that deals with receipt of cash from sales transactions and not the actual sales transactions.
When the refund is eventually settled with cash, a debit is posted to sales refund payable and a credit to cash account