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3 years ago

Vision Co. manufactures and sells tea, coffee, desserts, shoes, and sporting goods. All of these products are its

Business

1 answer:

Anuta_ua [19.1K]3 years ago

6 0

Answer:

All of these products are its sold under his family brand

Explanation:

In the given question, the Vision co. deals in a variety of products which include tea, coffee, desserts, shoes, and sporting goods.

By sells his company brands, he captures the market area and has created a market position.

And, he promotes his family brand together.

Here, brand means to promote the company goods having a trademark so that the customers attract towards company goods and services by giving them great deals. It is an advertising strategy through which the company can capture its maximum market share.

Hence, All of these products are its sold under his family brand

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Prepare the adjusting entry to record bad debts expense assuming uncollectibles are estimated to be (1) 3% of credit sales, (2)

Genrish500 [490]

Answer:

Date Account Title Debit Credit

Dec. 31 Bad debt expense $9,000

Allowance for doubtful accounts $9,000

Working

= 3% * 300,000

= $9,000

Date Account Title Debit Credit

Dec. 31 Bad debt expense $12,000

Allowance for doubtful accounts $12,000

Working

= 1% * total debt

= 1% * (900,000 + 300,000)

= $12,000

Date Account Title Debit Credit

Dec. 31 Bad debt expense $12,500

Allowance for doubtful accounts $12,500

Working

= 6% * Accounts receivable

= 6% * 125,000

= $7,500

As the Allowance account is in debit, it means that bad debt exceeded the allowance so this balance needs to be added to properly cater for bad debts.

= 7,500 + 5,000

= $12,500

8 0

3 years ago

Barrington Bears has developed the following sales forecasts for the next few months. January 500, February 600, March 720, Apri

Oduvanchick [21]

Answer:

The correct answer is C.

Explanation:

Giving the following information:

Barrington Bears has developed the following sales forecasts for January 500 units.

BB has 80 bears on hand on Dec. 31. The normal ending inventory policy is to hold 20% of next month’s sales.

Direct labor is paid $18 per hour. Each bear takes 40 minutes to hand-finish. Variable overheads total $21 per direct labor hour. Fixed overheads amount to $25,000 per month.

First, we need to calculate the production for January.

Sales= 500 units

Ending inventory= (600*0.2)= 120 units

Beginning inventory= 80 (-)

Total= 540 units

Conversion costs= direct labor + manufacturing overhead

Direct labor= [(40/60)*540]*$18= $6,480

Variable overhead= 21*360 hours= $7,560

Fixed overhead= $25,000

Total conversion costs= $39,040

5 0

3 years ago

Assume that locating a cement factory in the middle of Boston would save the producer $5 million at a public expense, in polluti

never [62]

Answer:

$5 million

Explanation:

If we follow the Coase Theorem, the appropriate solution to this case should be obtained regardless of initial rights. In this case, the factory saves $5 million to the producer, but it costs $10 million to Boston residents. if Boston residents pay $5 million or more to the factory owner, then both would benefit. Boston residents will gain $10 - $5 = $5 million, as well as the factory owner.

7 0

2 years ago

Interest rates rise faster in Scotland (GBP) than they do in the United States (USD). Which nation’s currency appreciates? Which

patriot [66]

There is very simple logic between demand and supply. When demand is high, price rises and currency appreciates in its value. On the other hand, price should decline if import rate is mare compared with export rates. As prices of U.S goods increases which ultimately goes to international market where producers have to pay domestic currencies. Americans will demands comparatively less expensive goods. So it will result in supplying more dollars to foreign exchange market.

Finally, increasing demand of pounds. Finally, U.S dollars appreciates and pound depreciates. Trade value is amount by which total import value deviates from export value. Due to changes in interest rates results in trade imbalance in U.S. There is not greater effect on Scotland as it is key player in transporting of energy products to rest of U.K.

6 0

3 years ago

[The following information applies to the questions displayed below.] Vail Resorts, Inc., owns and operates five premier year-ro

Sphinxa [80]

Answer:

JOURNAL ENTRIES

01 Dec Debit bank $2,900,000 Credit Note payable $2,900,000

31 Dec Debit Snowplow $95,000 Credit Bank $95,000

c) Debit inventory $31,000 Credit Accounts Payable $31,000

d) Debit Maintenance expense $55,000 Credit Bank $55,000

e)Debit Bank $378,000 Credit Season Passes $378,000

f) Debit Accounts receivables $740 Credit Revenue $740

g) Debit Cost of sales $420 Credit Inventory $420

h) Debit Bank $260,000 Credit Daily lift passes $260,000

i) Debit Bank $2,200 Credit refundable deposit $2,200

j) Debit Accounts payable $15500 Credit Bank $15,500

k) Debit Bank $410 Credit Accounts receivables $410

l) Debit Salaries and Wages $264,000 Credit Bank $264,000

Explanation:

1. Prepare journal entries for each transaction. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

8 0

3 years ago