A certificate of ownership in a corporation is called

If the demand for a good falls by less than the supply of the good rises, then the good’s equilibrium price will __________ and

STatiana [176]

If the demand for a good falls by less than the supply of the good rises, then the good’s equilibrium price will fall and its equilibrium quantity will rise.
According to the law of demand indicates that as price increases, consumers are willing and able to purchase less so the quantity demanded will fall and cause the downward sloping demand curve. So when price falls, consumers are willing and able to purchase more.

6 0

4 years ago

During the year, Bears Inc. recorded credit sales of $620,000. Before adjustments at year-end, Bears has accounts receivable of

AleksandrR [38]

Answer:

Bad Debt Expense Dr. $28050

Allowance for Uncollectible accounts Cr. $28050

Explanation:

given data

credit sales = $620,000

accounts receivable = $320,000

past due = $55,000

credit balance = $2,600

rate = 7 %

rate = 22 %

solution

so here Not yet past due is = $320,000 - $55,000 -

Not yet past due = $265,000

and

past due = $55,000

so Required provision is

Required provision = $265,000 × 7 % + $55,000 × 22 %

Required provision = $30650

and

Opening balance is $2,600

so

Required expense for year = $30650 - $2,600

Required expense for year = $28050

so here

correct entry is

Bad Debt Expense Dr. $28050

Allowance for Uncollectible accounts Cr. $28050

8 0

4 years ago

Explain how a consumer’s place of residence has an especially large impact on their purchase of sports and entertainment commodi

ElenaW [278]

Answer:

Concept: Business digression

Lets assume you live in Los Angeles CA
LA houses the Lakers, dodgers, and so many more big brand teams.

A consumer which is defined as any person in a free and open market to openly trade their wealth and income in return for an item or service.
Residence defined as the area that surrounded the immediate perimeter of the said consumer.
Hence, by the principle of <u>socialization</u><u> </u>people are more inclined to buy sports gear to represent their teams and inclined to participate in consumer purchases based on their peers.
It becomes the "lifestyle" and "ideal" personalities in a place such as LA and this inherently drives up sales of sports and entertainment commodities.
The location, or residence directly <u>exposes</u> the consumer to the products in a market where it "hot" and in style/demand.
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8 0

3 years ago

Listed below are year-end account balances (in $millions) taken from the records of Symphony Stores.

azamat

Answer:

d) $2,377 millions.

Explanation:

Total of Assets comprises the sum of Current Assets and Non Current Assets. Current Assets are assets of a short term nature not exceeding 12 months and Non - Current Assets are assets of a long term nature, exceeding 12 months.

In the Balance Sheet, some assets are presented at their net amounts. Property Plant and Equipment is presented net of accumulated depreciation. Trade Receivables are presented net of allowances for uncollectable amounts.

Therefore,

Total Assets Calculation :

$ millions

Accounts receivable-trade 699

Building and equipment 930

Cash-checking 40

Interest receivable 34

Inventory 25

Land 166

Notes receivable (long-term) 484

Petty cash fund 7

Prepaid rent 28

Supplies 8

Trademark 49

Accumulated depreciation (75)

Allowance for uncollectible accounts (18)

Total Assets 2,377

3 0

3 years ago

Explain the meaning of personal account,real account and nominal account,give five examples each

zysi [14]

Answer:

<h3>An example of a Real Account is a Bank Account. A Personal account is a General ledger account connected to all persons like individuals, firms and associations. ... A Nominal account is a General ledger account pertaining to all income, expenses, losses and gains. An example of a Nominal Account is an Interest Account</h3>

3 0

3 years ago