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3 years ago

10

Stores are overflowing with the latest vampire novel at $10. Store managers are frustrated with the lack of sales. The equilibri

um price for this novel is $10.True / False.

1 answer:

Ket [755]3 years ago

3 0

Though I have no experience in business, I would say it is True.

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On May 3, 2020, Cheyenne Company consigned 90 freezers, costing $480 each, to Remmers Company. The cost of shipping the freezers

Viktor [21]

Answer and Explanation:

The computation is shown below;

a.

Inventory Unsold in Hand (90-45) 45

Unit cost Unsold (45 × 480) $21,600.00

Shipping cost on Unit Unsold (850 ÷ 90 × 45) $425.00

Value of Inventory (21600 + 425) $22,025.00

b.

Sale value (45 × 780) $35,100.00

Less: Cost

Unit cost Sold (21600+425) -$22,025.00

Comission of Consignee (35,100 × 6%) -$2,106.00

Advertising cost -$210.00

Installation cost -$330.00

Net Profit $10,429.00

c.

Sale value (45 × 780) $35,100.00

Less: deduction made by consignee

Comission of Consignee (35100 × 6%) -$2,106.00

Advertising cost -$210.00

Installation cost -$330.00

Net Remittance made by consignee $32,454.00

5 0

3 years ago

The fact that business customers purchase products to be used directly or indirectly in the production of goods and services to

Monica [59]

Answer:

The correct answer is C

Explanation:

Demand for business products is referred to as the derived demand, which means that the firm or business bought the products to be used while producing the products of customer.

And a small decrease or increase in the demand of the consumer could produce the larger change in the demand for the manufacturing equipment and facilities required to make the product for consumer.

So, the needs of the customer states that the demand for the business product is derived.

8 0

3 years ago

Which of the following statements regarding uncertainty in liabilities is not correct? Group of answer choices Liabilities can i

nadya68 [22]

Answer: A company can only record a liability when it knows whom to pay, when to pay, and how much to pay

Explanation:

A liability is simply defined as the amount that a particular company owes. Liabilities consist of loans, accrued expenses, defered revenue, and accounts payable.

We should note that liabilities can involve uncertainty in whom to pay. Also, a company can have an obligation of a known amount to a known creditor, but not know when it must be paid.

Based on the options given in the question, the answer will be "a company can only record a liability when it knows whom to pay, when to pay, and how much to pay".

5 0

3 years ago

A law firm received $2,000 cash for legal services to be rendered in the future. The full amount was credited to the liability a

Mashcka [7]

Answer:

Revenues to be understated.

Explanation:

The accrual basis says that revenues are recognized when earned and expenses are recognized when incurred.

In this case, if the legal services have been rendered at the end of the accounting period and no adjusting entry is made there is a situation of understated revenue.

When an accountant says that an amount is understated, it means two things: The amount is not the correct amount, and the amount is less than the true amount.

The adjusting entry that should be done is:

Debit to the liability account Unearned Service Revenue, and a credit to the revenue account Service Revenue.

8 0

3 years ago

Why is it important to periodically remind the team of the organizational goals?

juin [17]

I think the correct answer from the choices listed above is option A. It is important to periodically remind the team of the organizational goals in order to <span>keep the daily activities on track by focusing whether they support the goals. Hope this answers the question. Have a nice day.</span>

8 0

3 years ago

Read 2 more answers