The simple answer is competition. While Southern Brewers was the only supplier in the market, they had monopoly over that industry which is why they could afford to give high prices. When other suppliers came with lower prices, they can't keep their high prices anymore because people can now save money with other suppliers.
Agriculture, forestry and fishing
Answer:
A Franchisee sell the right to make a product to franchisors
Answer:
B is the correct option
Explanation:
On August 31 2017,which is the expiration date of the loan of $124,000,the actual loan amount needs to be paid alongside total interest due on the loan.
However,on 31st December,four month period interest would have been calculated debited to interest expense and credited to interest payable i.e$124000*6%*4/12=$2480
On 31st the balance of interest needs to be calculated as:$124,000*6%*8/12=$4,960
Hence the correct option should the following entries:
Dr Notes payable $124,000
Dr interest payable $2480
Dr interest expense $4,960
Cr cash $131440
Answer:
a.Building (Dr.) $145
Equipment (Dr.) $260
Cash (Cr.) $404
Long-term note (Cr.) $30
b. Cash (Dr.) $340
Common Stock (Cr.) $180
Share Premium (Cr.) $160
c.Retained Earnings (Dr.) $145
Dividend Payable (Cr.) $145
d.Short-term investment(Dr.) $7716
Cash (Cr.) $7716
e. No Effect on accounting equation or Canon Sporting Goods Accounts.
f. Cash (Dr.) $4313
Short-term Investment (Cr.) $4313
Explanation:
a. Non-current Asset is increase by $434 and Current Assets cash account decreased by $404, Non-current liability is increased by $30.
b. Cash received debited which increases current asset by $340 and common stock account increased by $180, Share premium account increased by $160 under the stockholder account.
c. Dividends are paid from retained earnings on the equity account of the balance sheet. No effect on the assets. Retained earnings are decreased (stockholder account) and dividend payable is increased (current liability account).
d. Both are current asset accounts. Short-term investment account is increased and cash is decreased by $7716.
e. There will be no effect on the accounts of Canon Sporting Goods as the transaction occurred between two outside investors.
f. Both are current asset accounts. Cash is increased and short term investment is decreased by the $4313.