Answer:
The income before tax will be affected by discounts in 2021.
Explanation:
The terms 1/10, n/30 imply that payment made within 10 days will enjoy 1% discount while full payment has to be made within 30 days if the payment was not made within 10 days.
Since it is assumed in the question that all customers paid the net-of-discount amount on January 6, 2022, that means they all paid within 10 days and enjoyed 1% discount. The anticipated discount allowed is calculated as follows:
Anticipated discount allowed = 1% * ($25,000 * 10) = 1% * $250,000 = $2,500
Since the sales was made on December 28, 2021, the anticipated discount allowed will reduce the 2021 income before tax by $2,500.
This is based on the Matching Concept which states that revenues and their related expenses must be recognized in the accounting period.
Therefore, the income before tax will be affected by discounts in 2021.
Answer: Related diversification
Explanation:
The corporate-level strategy that T&P appear to follow is related diversification. Related Diversification is a situation that comes into place when there is an expansion or an addition of a company's existing production line.
In this scenario, we are informed that T&P is in the process of acquiring another company, its major music store rival ReBop Records. This will lead to an expansion of the production line of T&P.
Therefore, the corporate-level strategy that T&P appear to follow is Related diversification.
Answer:
a)J = 450,000 +(20% * C)
b)C =250000+ (50%*J )
c)J = 450000 + {20%* [250000+(50%*J)}
Explanation:
a)J = 450,000 +(20% * C)
This represent the total cost of Janitorial Department due to the fact that 450000 is a direct cost of janitorial department plus 20% of total cost of Cafeteria department allocated to Janitorial department.
b)C =250,000+ (50%*J )
This represent the total cost of cafeteria Department due to the fact that 250,000 is a direct cost of cafeteria department plus 50% of total cost of Janitorial department allocated to cafeteria department.
c)
Substituting the value of C determined in part b in part a
J = 450,000 + {20%* [250,000+(50%*J)}
Therefore in place of C in equation 1 ,the value of c determined in equation 2 is thereby substituted .
Answer:
Final Good
Products that are bought by individuals or households for personal use.
Adding all of that would equal to $1,346
