Answer and Explanation:
The Journal entry is shown below:-
Cash A/c Dr, $20,000
Accounts Receivables A/c Dr, $140,000
($145,000 - $5,000)
Inventory A/c Dr, $101,700
Equipment A/c Dr, $81,200.
To Allowance for doubtful Accounts $4,400
To Payne's Capital A/c $338,500
(Being assets contributed by partner in business is recorded)
For recording the assets contributed by partner in business we simply debited the cash account, accounts Receivables, Inventory and Equipment as increase the assets while we credited the Allowance for doubtful Accounts as it decreasing the assets and Payne's Capital as increasing the stockholder equity.
Answer:
the maximum that shareholders can lose is their original investment in the firm's stock AND the claims of preferred shareholders are honored before those of the common shareholders.
Explanation:
Bankruptcy may be defined as the legal proceedings that involves a person or a business where the person or the business firm is not able to repay the debts that are outstanding. When a firm or a person files a bankruptcy, there is an automatic stay put by the court that blocks the debts.
In case of bankruptcy the different shareholders of the firm losses a maximum of their original investment that they have done in the firm while purchasing the stocks. And also the claims of the preferred shareholders are being honored first than those of common shareholders.
Answer:
Penguin patties and kipples should be advertise together.
Explanation:
The cross-price elasticity formula is:
CPE= % Δq of good A/ %Δp of good B
The CPE of penguin patties and raskels is:
CPE= -22%/-20%
CPE= 1.1
If the CPE is positive, then both goods are substitutes, which means that an increase in price of on good will affect positively the quantity demanded for the other good.
The CPE of penguin patties and kipples:
CPE= 7%/-20%
CPE=-0.35
If the CPE is negative, then both goods are complementary, which means that an increase in price of one good will affect negatively de quantity demanded for the other good.
You should advertise complementary goods together because both could be positively benefited by advertising. If the demand for good A increases, it is probable that the demand for good B increases too. If you advertise substitute goods, people will always prefer one, then the advertising will only be effective for one of the good but not for both.
Get all the facts and keep a written record with dates and times
