Answer: The Demand should be in elastic
Explanation:
Peacock hotel rooms are a normal good and they have a negative price elasticity of demand, meaning a decrease in price of hotel rooms per night will increase quantity of hotels rooms demanded for Peacock.
Peacock is considering decreasing Prices to $ 175 per unit, for this decrease in Prices to lead to a decrease in total revenue, The demand for Peacock hotel rooms should be inelastic. When the demand for Peacock hotel rooms is inelastic a decrease in price to $ 175 will lead to a small change in the quantity of hotel rooms demanded for Peacock which will then lead to a decrease in Total Revenue.
1. Unearned Revenue
2. Accrued Expense
Answer: By implementing the principles of management such as planning, organization, leadership and control, it would influence the dynamics of the company, which would automatically improve processes.
Explanation: If managers ensure that the actions are implemented correctly, the organizational culture will work according to the principles and the results can be measured.
Answer:
.D)Debit Cash $627.20; debit Credit Card Expense $12.80 and credit Sales $640
Explanation:
Sales = $640
To recognize this,
Debit Cash $640
Credit Sales $640
Being entries to recognize sale and cash received.
On this sale, the bank deducts 2% of the sales value
Amount deducted = 2% × $640
= $12.80
To recognize this,
Debit Credit Card Expense $12.80
Credit Cash $12.80
Being entries to recognize credit card expense incurred on sale.
As such, the net effect of the two entries
Debit Cash $627.20
Debit Credit Card Expense $12.80
Credit Sales $640
The right option is D)Debit Cash $627.20; debit Credit Card Expense $12.80 and credit Sales $640.
Answer:
Entry: Dr Raw material 81800
Cr Accounts payable 81800
( To record raw material purchased on account)
Entry: Dr Work in process 53600
Cr Raw material 53600
( To record material used in production)
Entry: Dr Work in process ( 19550 *135%= 26392) 26392
Cr Applied factory overhead 26392
(To record applied overhead )