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3 years ago

Why is vocabulary important? What is Promotion? Why is Promotion important in marketing?

1 answer:

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Why is vocabulary important? Your vocabulary is important because it allows others to better understand the message you are trying to convey. Readers and listeners will not be able to understand what they are looking at if they can not understand the words being used. Also, in business and the corporate world, vocabulary is important to make sure the correct terminology is being used for the consumer to understand.

What is Promotion? A promotion is an item or service that helps publicize a product or organization to increase their sales or awareness. A promotion typically draws attention to the business and helps them expand their consumer base.

Why is Promotion important in marketing? A promotion is important in marketing to attract new consumers as well as remind loyal consumers of the brand. A promotion may also be used when demonstrating a new release item to bring awareness.

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Accounts Receivable As of December 31, 2016, Nala Incorporated reported accounts receivable for $275,000 less allowance for doub

juin [17]

Answer:

1. Dr Accounts receivable $180,000

Cr Sales $180,000

2. Dr Cash $125,000

Cr Accounts receivable $125,000

3. Dr Sales returns and allowances $20,000

Cr Accounts receivable $20,000

4. Dr Allowance for doubtful accounts $35,000

Cr Accounts receivable $35,000

5. Dr Accounts receivable $2,500

Cr Allowance for doubtful accounts $2,500

Dr Cash $2,500

Cr Accounts receivable $2,500

B. Dr Bad debt expense $27,500

Cr Allowance for doubtful accounts $27,500

Explanation:

A1. To record the sale on account we will debit accounts receivable as our collectible to customer and credit sales in the amount of $180,000

A2. To record the collection, we will recognize the receipt of cash so we have to debit cash and credit accounts receivable to deduct the collectible balance in the amount of $125,000

A3. When the company receives returns from the customers, it will be charged to sales returns and allowances account so we have to debit it and credit accounts receivables in the amount of $20,000 to deduct collectibles to suppliers. Said, sales returns and allowances account is a contra account of sales. Thus, any amount recorded under it will be charged against (deduction) our sales.

A4. During the write off, we will debit allowance for doubtful accounts and credit accounts receivables to reduce its amount from the worthless receivables that is deemed to be uncollectible.

A5. Collection of previously written off receivables will resort to 2 entries. First, reversal of the original entry we made during the write off. So we debit Accounts receivable and credit allowance for doubtful accounts in the amount of $2,500. Next is to record the cash we received from the customer. So debit cash and credit accounts receivable in the same amount of $2,500.

B. To record the bad debt expense, we need to compute first the ending balance of the accounts receivable.

Beg $275,000 plus sales on account of $180,000 less collection $125,000, sales return of $20,000 and write off $35,000 = $275,000.

Bad debts is 10% of the Accounts receivable, so $275,000 x 10% = $27,500

Entry:

Dr bad debt expense $27,500

Cr allowance for doubtful accounts $27,500

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3 years ago

What is the relationship between financial system and economy

pentagon [3]

Answer:

Financial markets help to efficiently direct the flow of savings and investment in the economy in ways that facilitate the accumulation of capital and the production of goods and services.

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2 years ago

Read 2 more answers

g Last year Thomson Inc's earnings per share (EPS) were $3.50, and its growth rate during the prior 5 years was 6.6% per year. I

mariarad [96]

Answer:

17.19 years

Explanation:

The triple value of the earnings per share=$3.50*3=$10.50

The growth rate is 6.6%

Using the nper formula in excel, we can determine the number of years earnings per share would triple

=nper(rate,pmt,-pv,fv)

rate is 6.6%

pmt is not applicable to the scenario ,hence it is zero

pv is the current earnings per share

fv is the future earnings per share

=nper(6.6%,0,-3.5,10.5)= 17.19

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2 years ago

1._____________is the difference between earned income and costs. 2. An organization that produces or distributes a good or serv

Anestetic [448]

Answer:

1. Profit

2. Business

Explanation:

Profit may be defined as the income which is distributed to the owner in the production process of a profitable market. In other words it is the extra revenue generated by the company that is in excess of the money spend as expenses. It is the difference between the earned income and the costs.

Business is a regular work or occupation or trade of a person. It refers to an organized efforts as well as the activities of any individual to produce the goods and services and sell them for a profit.

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3 years ago

Causwell Company began 2018 with 11,000 units of inventory on hand. The cost of each unit was $4.00. During 2018 an additional 3

Kaylis [27]

Answer and Explanation:

For computing the cost of goods sold under two method first we have to determine the cost per unit which is shown below:

The average cost per unit is

= $108,750 ÷ 25,000 units

= $4.35

Now the cost per unit is

Total cost (11,000 units + 35,000 units) × $4.35 $200,100

Beginning units (11,000 units × $4) $44,000

The Remaining cost for 35000 units ($200,100 - $44,000) $156,100

Divide by Purchase cost per unit of 35000 units $4.46

Now the cost of goods sold are as follows

1. Under the FIFO method

Beginning 11,000 × $4.00 $44,000

Purchased 14,000 × $4.46 $62,440

Total 25,000 $1,06,440

2. Under the LIFO method

Purchased 25,000 × $4.46 $1,11,500

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3 years ago