Answer:
$300
Explanation:
When insurance is paid in advance, the entries required are
Debit Prepaid Insurance
Credit Cash account
As time elapses and the insurance expires,
Debit Insurance expense
Credit Prepaid Insurance
Amount of insurance expense as at 31 December (6 months between 1 July and 31 December)
= 6/12 * $600
= $300
The insurance expense on the annual income statement for the first year ended December 31 is $300.
Answer: above-average profits
Explanation: In the given case, while making the change in the operations the managements anticipated an increase in profit by 125 max. These types of anticipations are done by the managers on the basis of past records or the current existing trends.
Usually under such situations the management tries to take average of the anticipated figures so that expectations of take holders would not get high too much.
Hence the increase of 19% depicts that the profit increased by more than the average level as anticipated by the managers.
Explanation:
1. Being a good global corporate citizen
2. Being ethical in its practices
3. Obeying the law
4. Making a profit
According to Archie B. Carroll,
The first one is Being a good global corporate citizen: How a good citizen is important for the country, being a good global corporate citizen is equally important for the corporate world.
The second one is the ethical practices: This is very closely related to citizenship. There are some professional ethics to be maintained for a corporate world to grow.
The third is obeying the law: Definitely, employees have to adhere to the rules of the organization which is an important aspect for the growth of the organization and to the corporate world.
The last is making a profit: The final part is profit. According to my personal opinion if all the above are followed, profit will reach the organization.
Target marketing happens in a company first divides the market into segments and then decides which segment is most likely to buy their product. This strategy would then cause the company to concentrating on serving a particular segment of customers better.
