Answer:
$178
Explanation:
Net Sales:
= Sales (January & February) of wizard and Spyder - Discount allowed to Wizard Inc
= ($100 + $80) - ($100 × 2%)
= $180 - $2
= $178
Gross Profit = Net Sales - Cost of goods sold
= $178 - ($70 + $60)
= $178 - $130
= $48
Therefore, total revenue Solitare would report over the two months is $ 178 with a gross profit of $48.
Answer:
RISE, and the equilibrium price would FALL
Explanation:
A decrease in the price of leather if all other factors are held constant will lead to an increase in the quantity of football produced since the amount initially used in producing a football has dropped. Therefore the equilibrium quantity of football will RISE. Also, an increase in the quantity of football will lead to a FALL in the price of each football because producers will tend to produce more football than the demand.
Answer:
Debit account receivable $2.4 million; Credit Ticket Revenue $2.4 million
Explanation:
Double entry is when a business records a debit and credit in relation to a transaction. Generally you debit the receiver and credit the giver.
In this instance sales of tickets were made by Denver Broncos of $2.4 million worth.
The sale involves receipt of cash, but it is preseason and customers have not yet received service so we debit accounts receivable for $2.4 million.
Revenue is made from the sale so we credit Ticket Revenue to recognise income made.
Answer:
Part 1
Debit : Depreciation Expense $11,200
Credit : Accumulated Depreciation $11,200
Part 2
Debit : Cash $72,000
Debit : Accumulated Depreciation $88,000
Debit : P & L $15,600
Credit : Cost $175,600
Part 3
Debit : Cash $97,000
Debit : Accumulated Depreciation $88,000
Credit : P & L $9,400
Credit : Cost $175,600
Explanation:
Depreciation = (Cost - Residual Value) / Useful Life
Annual Depreciation = $19,200
to update depreciation in 2021 = $11,200
Accumulated Depreciation = $88,000
Under a team-based new product development approach, company departments work closely together in cross-functional groups, overlapping the steps in the product development process to save time and increase effectiveness.
<h3>What is team-based new product development?</h3>
Team-based new-product development is a method for creating new products in which departments from the same organization collaborate closely in cross-functional teams, spanning the stages of the product development process to reduce time and boost efficiency.
The steps in the product development process are overlapped to reduce time and boost performance when using a team-based new product development method between company departments. Because departments collaborate closely in cross-functional teams, the team-based approach to new product development speeds up the process and boosts effectiveness.
- In order to overlap the processes in the product development process and reduce time spent on each step while increasing effectiveness, team-based new product development comprises several company departments working closely together.
- Developing a new product from scratch is known as new product development (NPD).
- Despite industry-specific variations, it can be roughly divided into seven stages: ideation, research, planning, prototype, sourcing, costing, and commercialization.
Lear more about Team-based and new product here:
brainly.com/question/13451599
#SPJ4
