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3 years ago

Should companies be allowed to force stores to obey minimum prices? Yes or no? Explain the reason why you chose yes or no?

1 answer:

3 0

Yes, stores should be forced to obey minimum prices for a good or a company that is selling a service should as well. They should have to obey by this so that price competition isn't ongoing in the market. Larger producers can often charge a smaller amount for a product because they are producing them in high qualities. By charging less it gives them a competitive advantage over their competition in means of price. Unless the item is on clearance because a company is discontinuing stock of that item, they should have a set minimum as they do a set maximum they are allowed to charge for that item.

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6 0

1 year ago

On March 31, 2019, the balances of the accounts appearing in the ledger of Racine Furnishings Company, a furniture wholesaler, a

umka2103 [35]

Answer:

Net Income $66100

Explanation:

Racine Furnishings Company

Multi Step Income Statement

For the Year Ended March 31, 2019

Sales 6,126,850

Cost of Merchandise Sold 3,965,850

Gross Profit 2161000

Less Operating Expenses

Depreciation $747,950

Supplies Expense ( 87000- 20650) 66350

Salaries Expense 7,700

Selling Expenses 717,650

Administrative Expenses 545,700

Operating Income 75,650

Other Expenses

Interest Expense 9,550

Net Income $66100

From the sales cost of merchandise sold is subtracted to get the gross profit. The operating expenses are subtracted from the gross profit to get the operating income. Other expenses such as interest expense is subtracted to get the net income.

7 0

2 years ago

You currently own 6 percent of the 2 million outstanding shares of Webster Mills. The company has just announced a rights offeri

natta225 [31]

Answer:

The new ownership position is A. 5.08

Explanation:

Current holding= 6%

current no. of shares= 2*6%=.12

new no. of shares issued =18/50=.36

total no. of shares become =2+.36=2.36 million

my holding in no. =.12 million

my holdinng in %=.12/2.36=.0508

or, 5.08%

8 0

3 years ago

General rule to use in assessing the average collection period is that

saveliy_v [14]

The general rule you are refering is that it should not exceed greatly the credit term period. Rules that do not apply in this case is the 30 days exceed rule, the rule that says that it can be any length as long as the customer continues to buy merchandise, and the rule that says that it should not greatly exceed the discount period.

4 0

3 years ago

Doyle Company issued $381,000 of 10-year, 7 percent bonds on January 1, Year 1. The bonds were issued at face value. Interest is

nexus9112 [7]

Answer:

Year 1:

Issue of bonds:

Dr Cash $381,000

Cr Bonds payable $381,000

Purchase of land:

Dr Land $381,000

Cr Cash $381,000

Receipt of lease rental:

Dr Cash $73,500

Cr Lease revenue $73,500

Payment of coupon interest:

Dr interest expense $26,670

Cr Cash $26,670

Year 2

Receipt of lease rental:

Dr Cash $73,500

Cr Lease revenue $73,500

Payment of coupon interest:

Dr interest expense $26,670

Cr Cash $26,670

Find attached t accounts.

Explanation:

Upon the issue of bonds for $381,000 the cash account would be debited with $381,000 while bonds payable account is credited with $381,000.

However,when the cash proceeds is invested in land,the land account would be debited with $381,000,while the cash account is credited with $381,000.

Besides,on receipt of annual lease rental the cash account is debited with $73,500 while the lease revenue is credited with $73,500.

The coupon interest is $381,000*7%=$26670

This would necessitate debiting interest expense with $26,670 while cash is credited with same amount.

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8 0

3 years ago