The first thing you should do for this case is write an equation that allows you to find John's sales during the month.
Let
x = amount of money in sales.
The equation is:
4000 + 0.09x = 11650
Clearing x we have:
0.09x = 11650-4000
x = (11650-4000) / (0.09)
x = $ 85,000
answer:
his sales during that month were
$ 85,000
Answer:
First find the present value of the lease. Payments are constant and fixed so this is an annuity. As it is to be paid from the beginning, it is an Annuity due.
= Annuity * Present value interest factor of annuity due, 5 years, 7%.
= 37,400 * 4.3872
= $164,081
Date Account Details Debit Credit
Dec. 31, 2019 Lease Receivable $164,081
Cost of goods sold $104,800
Sales $164,081
Inventory $104,800
Date Account Details Debit Credit
Dec. 31, 2019 Cash $37,400
Lease Receivable $37,400
Answer:
a. have performance attributes that are difficult to ascertain at the moment of purchase
Explanation:
In case of an experience good, it is difficult to make predictions regarding its price and quality.
The reputation of a seller and word of mouth are the important things that customers can use to make decisions regarding purchasing of the product.
Experience goods are those which have performance attributes that are difficult to ascertain at the moment of purchase
Answer:
Private individuals.
Explanation:
In a free enterprise system, the decisions about what and how many goods and services will be produced are made by private individuals.
Free enterprise system is an economic system in which the ownership and control of means of production (resources) and distribution of goods and services are determined by private individuals. Here, private individuals decide what, how and for whom to produce while the government does not interfere in economic activities. The allocation of resources and price determination are influenced by the forces of demand and supply called price mechanism, which Adam Smith referred to as 'Invisible Hand'.
Free enterprise system is also known as Capitalist economy, Capitalism and Free market system. Countries that practice more of free enterprise system are Singapore, New Zealand, Hong Kong, Australia and Switzerland.
Answer:
a. support department allocations
Explanation:
These costs are known as support department allocations or service department charges. Every company tends to have these costs since this applies to any department or third party which provides the company with a service. Many times this mainly refers to manufacturing departments and production departments since both provide a service that every company needs in order to obtain their desired product.
