low pricing aims to increase traffic in retail stores using special sales on a limited number of products and higher everyday prices on others.
Stores can therefore attract customers with the low prices and once the customer is there, they will more than likely purchase one of the higher priced items.
Answer:
The net journal entry impact on company's retained earnings is $1400,000 credit.
Explanation:
When the dividends were declared on December 15,the following entries apply:
Dr Dividends $1600000
Cr Dividends payable $1600000
However,upon closing the dividends to retained earnings the below journal entries apply:
Dr Retained earnings $1600000
Cr Dividends $1600000
It is noteworthy that the stock-split does not impact the dividends or retained earnings of $3m in anyway.
Since,journal entries for temporary accounts are closed to retained earnings,invariably the net income of $3m in year 2 must also be shown in retained earnings using journal.
Dr Income statement $3000000
Cr Retained earnings $3000000
From the above,a debit of $1600000 and credit entry of $3000000 in retained earnings gives a credit balance of $1400000
Answer:
c. Audit firm name
Explanation:
Audit documentation is evidence for the work performed and conclusions drawn in an audit. it also provides a basis with which all future audits can be performed.
the important constituents of the heading of a workpaper:
1. client name
2. client balance sheet dat
3. a descriptive explanatory title.
Therefore, The item that would typically not be included in the heading of a workpaper is Audit firm name
Answer:
$2592
Explanation:
Let the amount of loan applied for by both person be $x and $y respectively. If their loan differs by $72 each month, the second person would have applied for $(x+72) each month.
Amount applied by first person will be $x at the end of first month
Amount applied by second person will be $(x+72) at the end of first month
At the end of 36 months, the amount applied for by the first man will be $36x
At the end of 36 months, the amount applied for by the second man will be $36(x+72)
First person 'x' =$36x
Second person 'y' = $36(x+72)
If x pays $36x
y will pay $(36x+2592)
Their difference will become
$36x+$2592-$36x
= $2592
The person with the lower credit score will pay $2592 at the end of the 36-month loan
