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KiRa [710]
3 years ago
7

You have been the assistant manager at a small deli for the past three years, and you have made friends with many of the custome

rs. You are thinking about opening up your own deli, and there is a great space just around the corner from your current job. You think many of the customers you have befriended will follow you to your new business. Is it fair to open a shop in competition with your current employer? Why or why not?
Business
2 answers:
Archy [21]3 years ago
6 0

Answer:If you financially able to open a deli and it is your passion then you should be able to open one. You might get the feeling that your old employer doesn't approve of what you did, but that is because you are now a competition. You might have some customers who won't want to switch to a new place but most of them probably would be okay with.

Explanation:

Nana76 [90]3 years ago
5 0
If you financially able to open a deli and it is your passion then you should be able to open one. You might get the feeling that your old employer doesn't approve of what you did, but that is because you are now a competition. You might have some customers who won't want to switch to a new place but most of them probably would be okay with. 
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On November 1, 2018, Reid Corporation acquired bonds with a face value of $700,000 for $673,618.61. The bonds carry a stated rat
Evgen [1.6K]

Answer:

Nov 1 2018

Dr Bonds receivable 700,000

Cr Cash 67,3618.61

Cr Discount on bonds receivable 26,381.39

April 3 2019

Dr Cash 35,000

Dr Discount on bonds receivable 2,049.02

Dr Interest revenue 37,059.02

Oct 31, 2019

Dr Cash 35,000

Dr Discount on bonds receivable 2,049.02

Cr Interest revenue 37,059.02

Nov 1, 2019

Dr Cash 700,000

Dr Discount on bonds receivable 22,283.25

Cr Notes receivable 700,000

Cr Profit on sale bonds receivable 22,283.25

Explanation:

Preparation of the journal entries to record the following:

Purchase of the bonds

Interest receipts on April 30, 2019 and October 31, 2019

Sale of the bonds.

Journal entries

Nov 1 2018

Dr Bonds receivable 700,000

Cr Cash 67,3618.61

Cr Discount on bonds receivable 26,381.39

(700,000-67,3618.61)

(To record Purchase of bonds)

April 30 2019

Dr Cash 35,000

(700,000*10%*6/12)

Dr Discount on bonds receivable 2,049.02

(37,059.02-35,000)

Dr Interest revenue 37,059.02

(673,618.61*11%*6/12)

(To record Interest receipts)

Oct 31, 2019

Dr Cash 35,000

Dr Discount on bonds receivable 2,049.02

(37,059.02-35,000)

Cr Interest revenue 37,059.02

(673,618.61*11%*6/12)

(To record Interest receipts)

Nov 1, 2019

Dr Cash 700,000

Dr Discount on bonds receivable 22,283.25

($26,381.39-$2,049.02-$2,049.02)

Cr Notes receivable 700,000

Cr Profit on sale bonds receivable 22,283.25

(To record Sale of the bonds)

8 0
3 years ago
Required-: JOURNAL ENTRY (ACCOUNT)
damaskus [11]

- Hey there , ronisha!

Answer:

\large{ \tt{SEE \: THE \: ATTACHED \: PICTURE}}

\large{ \tt{E \: X \: P \: L \: A \: N \: A \: T \: I \: O \: N}} :

  • Full settlement generally means DISCOUNT ALLOWED.

  • Firstly , Read out the question and try to understand. It says we purchased some stuffs of Rs 30000 from the sansee stores and we payed Rs 28000 in full settlement which implies that we received the discount of Rs 30000-28000 i.e Rs 2000.

  • You must have known the rules for debit and credit. As we know In case of personal account , Debit : The receiver , We have sansee stores as the receiver so we placed it in debit side.

  • Remember: When the question says that the cash is payed through cheque , you should always consider cheque as a bank. Now , In the case of personal account , Credit : The giver. Who's the giver? Of course , bank! So , we placed it in credit side.

  • Now , In case of nominal account , Credit : the incomes or gains . The question says we received the discount so obviously it's not expenses. So, We placed discount received in credit side. You must have studied that Every debit should have equal credit. And we're done!

- Hope this helps! Please let me know if you have any questions regarding my answer and also don't hesitate to reach out to me if you need any other help! :)

7 0
2 years ago
Social Security Multiple Choice Is a Defined Benefit Pension Plan Is offered by local governments Is an optional Pension Plan Is
worty [1.4K]

Answer:

In simple words, Retired, incapacity, as well as survivor payments are all part of the Social Security program. In its nature, it is very much like a defined benefit pension plan.

Most employees contribute Social Security levies on their income to apply for many of these claims; claimants' advantages are dependent on the wages earner's payments. Aside from that, benefits like Supplemental Security Income (SSI) are dependent on use.

4 0
2 years ago
Discuss why it is important to establish control on the R chart first when using and R control charts to bring a process into st
Tanya [424]

Answer:

See below

Explanation:

The importance of establishing control in this case stems from the fact that as the points in these type of charts exceed beyond the set limits, it is possible that those points get eliminated and a revised value of R can be obtained. Accordingly, the limits and the center line also get revised on an R chart and x chart. This also allows for the limits to get tighter on both of the charts.

5 0
2 years ago
Last year's asset turnover ratio was 2.0. Sales have increased by 25% and total assets have increased by 10% since that time. Wh
Dmitriy789 [7]

Answer: d. 2.27

Explanation:

Asset Turnover = Total sales / Average Assets

Last years turnover ratio was 2.0 so assume Sales were $20 and Assets were $10 which would give the turnover of 2.0

The new turnover would be;

= (20 * 1.25)/(10 * 1.1)

= 25/11

= 2.27

6 0
3 years ago
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