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Trava [24]
2 years ago
5

“jeremy, can you possibly give me a ride to the airport this sunday,” your friend ben asks. not thinking that this is a big deal

, you agree to do this favor for ben. “oh, that’s great! thanks so much. and by the way, i forgot that the plane leaves at 8:30 am so i’ll have to be be at the airport by 6:30 am. pick me up at 6:00. see you then,” ben adds. you are still likely to do the favor for ben because you have just been a victim of the _____________ technique.
Business
1 answer:
Ipatiy [6.2K]2 years ago
6 0
<span>you are still likely to do the favor for ben because you have just been a victim of the: lowball technique
The lowball is a selling technique in which an item is offered at a lower price than actually intended AFTER we increase the basis price. This technique often works because people have the tendency to conform to additional favor is it convinced to do another favor before
</span>
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When preparing to work on a project, teams should name a meeting leader to plan and conduct meetings, a recorder to keep a recor
vesna_86 [32]

Answer:

The statement is: True.

Explanation:

Teams tend to have more effective results when they select a leader, recorder, and evaluator. Those characters will play an important role to control and measure the team's performance that will lead them to achieve their objectives. The <em>leader </em>should guide the team whenever the members gather, the <em>recorder </em>registers the most relevant information of every meeting, and the <em>evaluator </em>measures the advance of the project with the help of the leader.

4 0
2 years ago
The following information applies to the questions displayed below.
zhenek [66]

Answer:

Lobo Co.

Journal Entries:

Nov. 11 Debit Cash $7,875

Credit Sales Revenue $7,875

To record the sale of 105 razors for cash.

Nov. 11 Debit Cost of Goods Sold $2,100

Credit Inventory $2,100

To record the cost of goods sold for 105 razors at $20 each.

Dec. 16: Debit Cash $16,500

Credit Sales Revenue $16,500

To record the sale of 220 razors for cash.

Debit Cost of Goods Sold $4,400

Credit Inventory $4,400

To record the cost of goods sold.

Jan. 5: Debit Cash $11,250

Credit Sales Revenue $11,250

To record the sale of 150 razors for cash.

Debit Cost of Goods Sold $3,000

Credit Inventory $3,000

To record the cost of goods sold.

Adjusting Journal Entries:

Nov. 30: Debit Warranty Expense $630

Credit Warranty Liability $630

To record the warranty expense for November sales.

Dec. 9: Debit Warranty Liability $300

Credit Inventory $300

To replace 15 razors.

Dec. 16: Debit Warranty Expense $1,672

Credit Warranty Liability $1,672

To record the warranty expense for December sales.

Dec. 29: Debit Warranty Liability $600

Credit Inventory $600

To replace 30 razors.

Dec. 31: Debit Income Summary $2,302

Credit Warranty Expense $2,302

To recognize the warranty expense for the period.

Jan. 5: Debit Warranty Expense $900

Credit Warranty Liability $900

To record warranty expense for January sales.

Jan. 17: Debit Warranty Liability $1,000

Credit Inventory $1,000

To record the replacement of 50 razors.

Jan. 31: Debit Warranty Expense $100

Credit Warranty Liability $100

To recognize warranty expense for January sales.

2. The Warranty Expense for November is $630 and for December is $1,602.

3. The Warranty Expense for January is: $1,000

4. The balance of the Estimated Warranty Liability account as of December 31 is:

= $1,402

5. The balance of the Estimated Warranty Liability account as of January 31 is:

= $1,302

Explanation:

a) Data and Calculations:

Cost per new razor = $20

Retail selling price = $75

Expected warranty costs = 8% of dollar sales

b) Estimated Warranty Liability Account:

Nov. 30: Credit Warranty Liability  $630

Dec. 9: Debit Warranty Liability    ($300)

Dec. 16: Credit Warranty Liability $1,672

Dec. 29: Debit Warranty Liability  ($600)

Dec. 31: Balance                           $1,402

Jan. 5: Credit Warranty Liability    $900

Jan. 17: Debit Warranty Liability ($1,000)

Jan. 31 Balance                            $1,302

Warranty Expense Account:

Nov. 30: Debit Warranty Expense  $630

Dec. 16: Debit Warranty Expense $1,672

Dec. 31: Debit Income Summary $2,302

Jan. 5: Debit Warranty Expense $900

Jan. 31: Debit Warranty Expense $100

Jan. 31: Debit Income Summary $1,000

5 0
3 years ago
The partnership of Larson, Norris, Spencer, and Harrison has decided to terminate operations and liquidate all business property
Volgvan

Answer:

          LARSON, NORRIS, SPENCER AND HARRISON

PREDISTRIBUTION PLAN FOR LIQUIDATING PARTNERSHIP

ASSET

Cash                           $28,250

liquidating expense   <u> (8,000)    </u>             20,250

Account receivable                                   44,000

inventory                                                    39,000

land and building                                       23,000

Equipment                                               104,000

Total Asset                                              230,250

Liabilities                                              <u>    (47,000)</u>

Net asset                                                 183,250

Asset to be distributed as follows:

Larson(15,000 - 1600)   13,400          

Norris(60,000 -2400)    57,600                        

Spencer(75,000 - 1600)  73,400                

Harrison(41,250-2400)      38,850            <u> ( 183,250)</u>

                                                                   <u>        0      </u>

Loss                                                        

share of liquidation expenses

Larson = 20%*8000 = 1600

Norris = 30%*8000 = 2400

Spencer = 20%*8000= 1600

Harrison = 30%*8000 = 2400

Explanation:

4 0
3 years ago
Find out the municipal taxes you are subjected to. Calculate your average annual tax payments to your municipality.
DENIUS [597]

Answer:

I conducted an online research on the state of Virginia. The state of Virginia has 95 counties, 39 independent cities, and 190 incorporated towns. Only elected governing bodies can impose local taxes in this state of Virginia. A bulk of the local tax money comes from property taxes.

The following is the list of municipal taxes a consumer in all counties and cities of the state of Virginia is subjected to:

Items Tax Percentage Districts

Retail sales tax 0.7%

Occupancy tax 2.1% only for the Northern Virginia Planning District

Fee on grantors of real estate $0.15 to $100 of the value of property sold only for the Northern Virginia Planning District

Wholesale distributors of motor fuel 2.1% Hampton Roads Planning District

Restaurant meal 1%

Communication taxes 1.05%

Motor vehicle rental tax 4%

Explanation:

I conducted an online research on the state of Virginia. The state of Virginia has 95 counties, 39 independent cities, and 190 incorporated towns. Only elected governing bodies can impose local taxes in this state of Virginia. A bulk of the local tax money comes from property taxes.

The following is the list of municipal taxes a consumer in all counties and cities of the state of Virginia is subjected to:

Items Tax Percentage Districts

Retail sales tax 0.7%

Occupancy tax 2.1% only for the Northern Virginia Planning District

Fee on grantors of real estate $0.15 to $100 of the value of property sold only for the Northern Virginia Planning District

Wholesale distributors of motor fuel 2.1% Hampton Roads Planning District

Restaurant meal 1%

Communication taxes 1.05%

Motor vehicle rental tax 4%

7 0
2 years ago
A goal programming problem had two goals (with no priorities assigned). Goal number 1 was to achieve a profit of $2,400 and goal
topjm [15]

Answer:

100

Explanation:

Goal programming is an optimization technique that allows for multiple, normally conflicting objectives and then attempts to solve each goal sequentially to a satisfactory level. In goal programming, differential variables are being used.

Since the goal programming problem had two goals. Goal number 1 was to achieve a profit of $2,400 and goal number 2 was to have no idle time for workers in the factory. The optimal solution to this problem resulted in a profit of $2,300 and no idle time

This means that goal number 2 was achieved since the optimal solution resulted in no idle time. But goal number 1 was not achieved because a profit of $2300 was achieved in the solution instead of $2400.

Therefore, the value for the objective function for this goal programming problem = 2400 - 2300 = 100

7 0
3 years ago
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