In marketing, an item’s utility refers to only how that product is used by the consumer. True False

Use below information to prepare general journal entries for Belle Co.'s 1 through 7 transactions.

antoniya [11.8K]

Answer:

Belle Co.

General Journal Entries

1. Debit Cash $6,000

Debit Equipment $7,600

Debit Web Servers $12,000

Credit Common Stock $25,600

To record the assets exchanged for common stock by D. Belle.

2. Debit Prepaid Insurance $4,800

Credit Cash $4,800

To record the prepayment of insurance coverage.

3. Debit Supplies $900

Credit Accounts Payable $900

To record the purchase of supplies on account.

4. Debit Selling Expenses $800

Credit Cash $800

To record the payment of selling expenses for cash.

5. Debit Cash $4,500

Credit Service Revenue $4,500

To record the receipt of cash for services rendered.

6. Debit Accounts Payable $900

Credit Cash $900

To record the payment on account.

7. Debit Equipment $3,400

Credit Cash $3,400

To record the payment for the purchase of equipment.

Explanation:

a) Data and Transaction Analysis:

1. Cash $6,000 Equipment $7,600 Web Servers $12,000 Common Stock $25,600

2. Prepaid Insurance $4,800 Cash $4,800

3. Supplies $900 Accounts Payable $900

4. Selling Expenses $800 Cash $800

5. Cash $4,500 Service Revenue $4,500

6. Accounts Payable $900 Cash $900

7. Equipment $3,400 Cash $3,400

4 0

3 years ago

All of the following are determinants of demand elasticity EXCEPT a. whether the purchase of the product can be delayed b. wheth

yKpoI14uk [10]

Answer:

The correct answer is option d. whether the product has utility.

Explanation:

The demand elasticity is a concept that explains the elasticity of the consumer in terms of buying a product while its price rises.

All of the factors given in the question are a part of this concept except whether the product has utility.

The reason is that when a consumer buys something, the utility of that desire is not measured. If people have a high demand elasticity, they would buy the most priciest of things which have no utility as such.

3 0

2 years ago

Following is partial information for Delamunte Industries for the month of August: Work In Process Balance, August 1 $ 41,000 Di

xeze [42]

1. The calculation of the predetermined overhead rate applied to jobs during August is <u>75% of direct labor costs</u> ($90,000/$120,000).

2. The balance in the Work in Process account at the end of August is $61,000.

3. The amounts of direct material cost and applied overhead recorded for Job 248 as of August 31 are $19,000 and $18,000, respectively.

<h3>Data and Calculations:</h3>

Work In Process Balance, August 1 $ 41,000

Direct materials used 75,000

Direct labor 120,000

Manufacturing overhead applied (based on direct labor cost) 90,000

Total costs incurred = $326,000

<h3>Finished Jobs during August: </h3>

Job # Cost of Jobs Completed

234 $ 58,000

237 65,000

231 74,500

246 67,500

Total costs of finished jobs = $265,000

Work in process balance = $61,000 ($326,000 - $265,000)

<h3>Job in Process: Job 248:</h3>

Direct labor cost incurred = $24,000

Applied overhead = $18,000 ($24,000 x 0.75)

Direct materials = $19,000 ($61,000 - $24,000 - $18,000)

Thus, the work-in-process balance represents Job 248 (Direct labor $24,000, Direct materials $19,000, and Applied Overhead $18,000).

Learn more about job costing at brainly.com/question/24516871

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7 0

2 years ago

The following data are available for Cole Company. Increase in accounts payable $120,000 Increase in bonds payable 300,000 Sale

antoniya [11.8K]

Answer:

Net Cash=$390,000

Explanation:

Net Cash provided by financing activities = Increase in bond payable + Issuance of common stock - Payment of cash dividends

Net Cash= $300,000+$180,000-$90,000

Net Cash=$390,000

Net cash also refers to the amount of cash remaining after a transaction has been completed and all associated charges and deductions have been subtracted

6 0

3 years ago

2. Explain how advertising and sales practices fed consumer demand during the late 1800s. What were the specific tactics used

erik [133]

Answer with its Explanation:

In the 1800s, advertising was done in local newspapers and in a number of magazines. The cost of advertising in newspapers was very high in those days because the only source of communication with the public was newspaper and magazines.

The designing of copying and opting to art was very common in those days which was adopted to attract key customers and placement of the advertisements in a specific place which would result in higher sales was also common to attract customer attention.

The telephone was invented in 1876, but still telemarketing started in 1970s. So the primary source of advertising and sales promotions was either by newspaper and magazines or face to face selling.

8 0

3 years ago

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