Answer:
serves as a unit of account
Explanation:
The four main functions of money are:
- it serves as a unit of account: it provides a common measure of the value of goods and services being exchanged. Since the euro is used in most of Europe, you can determine that the bouquet is cheaper in Belgium than in France.
- it serves as a store of value: money holds its value over time, so it serves as a store of value.
- it serves as a medium of exchange: you can use money to purchase goods and services
- it serves as a standard of deferred payment: money serves as a way of valuing a debt, so you can acquire goods now and pay for them later.
Answer: P1
Explanation:
In the long-run and even without government intervention, the economy will eventually converge on its long run equilibrium level which is the full employment output level of Q1.
This means that eventually, the aggregate demand in this scenario will go down to AD1 or AS would change such that the long run price will go to P1 as this is the full employment output price level.
Answer:
Adjusting entry amount shall be $ 5,100
Explanation:
Computation of adjustment to Allowance for Doubtful accounts
Accounts Receivable balance $ 170,000
Percentage of allowance for Doubtful accounts 5 %
Allowance for Doubtful accounts - $ 170,000 * 5% $ 8,500
Existing balance of Allowance for Doubtful accounts <u>$ 3,400</u>
Adjusting entry to Allowance for Doubtful accounts $ 5,100
Answer:
a.
July 1
Accounts Receivable 23000 Dr
Sales Revenue 23000 Cr
b.
July 8
Sales Return 2400 Dr
Accounts Receivable 2400 Cr
c.
July 11
Cash 20600 Dr
Accounts Receivable 20600 Cr
Explanation:
a.
The sales made on credit are recorded as a debit to the accounts receivable and a credit to sales revenue by the amount of sales assuming we use the gross method to record sale.
b.
The return of sales is recorded as a debit to the sales return account and a credit to the accounts receivable to reduce the amount due from accounts receivable.
c.
The remaining accounts receivable amount after sales return amounted to 23000 - 2400 = 20600
The sales terms were 2/10 which means a 2% discount was allowed if the accounts receivable pay within 10 days of sale. The payment is received after the discount period. Thus, we will not deduct the discount allowed and accounts receivable will pay fill $20600.
Answer:
Two target markets are children and youths
Explanation:
These children and youths demographically falls with in the ages of 7 years and 25 years residing in suburbs with a highly creative and soft-skill abilities.
Another target market opportunity is that for adults without literacy knowledge residing around same sururbs regions. Such class of individual lack basic knowledge of literacy and would dare to take a risk to acquire basic literary skills.
The use of promotional offers and rewards are among the customer relationship marketing adoptee for use.
