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Daniel [21]
3 years ago
9

Mr. Small, store manager for Jay's Appliance, is having a difficult time placing a selling price on a refrigerator that cost $41

0. Mr. Small knows his boss would like to have a 45 percent markup based on cost. The selling price should be
Business
1 answer:
Dvinal [7]3 years ago
7 0
The answer is $594.50, hope this helped you 
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6. For a business that uses the allowance method of accounting for uncollectible receivables: (a) Journalize the entries to reco
Vika [28.1K]

Explanation:

The journal entries are shown below:

1 Bad debt expense $18,000  

              To Allowance for doubtful account  $18,000

(Being the bad debt expense is recorded)

2 Allowance for doubtful account $350  

                             To Accounts receivable  $350

(Being the written off amount is recorded)

3 Accounts receivable $200  

                         To Allowance for doubtful account  $200

[Being account reinstated]  

Cash $200  

               To Accounts receivable  $200

(Being the payment is received)

4 Cash $400  

        Allowance for doubtful account $200  

                         To Accounts receivable  $600

(Being the amount received is recorded)

5 0
3 years ago
Which of the following characteristics differentiates a firm in an oligopolistic market from a firm in a perfectly competitive m
Oliga [24]

Answer:

A) A firm in an oligopolistic market has to consider its own impact on price when making production decisions

Explanation:

A perfectly competitive market is a market with many firms selling identical product. There are free entry and free exist and the decision of a firm does not affect the price in the market as all firms are price takers. Therefore, each firm is independent under perfectly competitive market and production decisions of a firm in a perfectly competitive market does not affect the price in the market nor will it cause any reaction from other firms.

However, Oligopolistic market is a market where there are few firms which are 3 or more firms but not more than 20 firms selling identical or differentiated product.. Firms in oligopolistic market are interdependent which implies that the decision of one firm can affect price and this can cause reaction from other firms and then lead to a price war. A price war occurs when each firm continually reduces its own price in order to increase its market share which causes other firms to react reducing their own prices and this will make none of the firms to gain in the end. In order to avoid the price war, each firm in an oligopolistic market has to consider its own impact on price when making production decisions.

6 0
3 years ago
Which type of budget indicates more expenses than income?
Fittoniya [83]

Answer:

a deficit budget

Explanation:

A budget is a plan detailing how an individual, a firm, or a government will spend its anticipated revenue. In short, a budget is a plan of expenditure. Budgets are usually prepared at the beginning of a period to guide the use of available resources.

An ideal situation is when the planned expenditure equal to the expected income. Such a plan is called a balanced budget. However, in some circumstances, the planned expenditure exceeds the projected income. That budget is a deficit budget.

3 0
3 years ago
The additional dining space will occupy space next to Olaf’s that was recently rented to a tenant. By claiming the space for the
Illusion [34]

Answer:

$12,146

Explanation:

The computation of present value of this opportunity cost is shown below:-

Net After tax Operating Profit Per month = Rent space per month × Profit margin on the renting the space percentage

= $1,000 × 30%

= $300

Project is for 4 Years

Total months = 4 × 12

= 48 Months

Interest Rate Per month = 9% ÷ 12

= 0.75%

As per the question the Rent is Received at the start of the month

So Present Value of this opportunity cost = $300 (1 + PVAF (0.75%,47))

= $300 × ( 1 + 39.486)

= $12,145.85

= $12,146

3 0
3 years ago
New Balance recently spent $13 million for time on television and space in selected magazines to promote its athletic shoes. Wha
denpristay [2]

Answer:

The correct answer is

advertising

good luck

7 0
3 years ago
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