Answer:
b.
Explanation:
The company sold 6 advertising spaces that would run from July to December for $400 each.
Total amount received for selling 6 advertising spaces = 6×$400
Total amount received for selling 6 advertising spaces = $2,400
The advertising spaces will run for 6 months i.e., July to December.
So, adjusting entry on 31st July would record the revenue earned for 1 month only.
Total revenue = $2,400
No. of months = 6
Revenue for 1 month = $2,400/6
Revenue for 1 month = $600
Thus, journal entry on receipt of cash as well as adjusting journal entry has been shown below:
Answer:
A specific trade agreement would be the US - Colombia trade agreement, which was signed on 2006.
Explanation:
This trade agreement reduced 80% of tariffs that used to applied to goods exported from the U.S. to Colombia, and from Colombia to the U.S.
The agreement benefits consumers in both countries because it allows each country to specialize in the production of those goods that they do best, for example, coffee in the case of Colombia, and industrial goods in the case of the United States.
However, because the United States is a much more powerful country, with a higher level of development, consumers in the US have benefited more than Colombian consumers.
Answer:
Hannah will lose her suit.
Explanation:
Niels and Hannah did not have a binding deal. They did not decide on a specific lot of land or on a price. It is never even decided how the two of them will decide on a fair method of agreeing on the price. Don't be fooled by words like binding contract. The terms are too vague and therefore Hannah will ultimately lose the case.
Answer:
total fixed cost= 90,000
Explanation:
Giving the following information:
A firm expects to sell 25,000 units of its product at $11 per unit. Pretax income is predicted to be $60,000. The variable costs per unit are $5.
The pretax income is calculated using the following formula:
Pretax income= total contribution margin - total fixed cost
60,000= 25,000*(11 - 5) - total fixed cost
60,000 - 150,000= - total fixed cost
total fixed cost= 90,000
