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Alex777 [14]
3 years ago
10

1. The roles of money Antonio just graduated from college and is now in the market for a new car. He has saved up $4,000 for a d

own payment. He's deciding between a Super and a Duper. The Super is priced at $23,599, and the Duper is priced at $18,999. After agonizing over the decision, he decides to buy the Duper. He writes the dealership a check for $4,000 and takes out a loan for the remainder of the purchase price.
Business
1 answer:
anyanavicka [17]3 years ago
5 0

Answer:

Explanation:

Antonio used the value of money as a unit of account to compare the value of the two cars namely Super and Duper and come to the conclusion that Duper was cheaper to Super

Antonio saved $ 4000 in his checking account  which he gave to the seller. This represent money's role as a store of value

Antonio write a check of the money he saved to the seller and the seller accepted it and gave him the car which fulfill the role of money as a medium of exchange.

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Sales promotions that provide consumers an incentive to buy a product, such as a cents-off coupons or a discount, are widely use
Nady [450]

Answer:

it is challenging to track usage of the coupons

Explanation:

Coupons are defined as an instrument that is used to obtain a discount or rebate when making a purchase.

Stores usually give out coupons to customers as an incentive to by products.

However there will be challenge of tracking the coupons as well as the discount on each coupon.

Coupons are given at different discount rates at different times, so it is cumbersome to track a particular coupon out of the many issued when customer wants to redeem it

6 0
2 years ago
Analysis of Accounts Receivable and Allowance for Doubtful Accounts Steelcase, Inc. reported the following amounts in its 2014 a
Naddika [18.5K]

Answer:

b. Gross Receivable = Net receivable +Allowance

2014 = $306.8 + $13 = $319.80

2013 = $287.3 + $14.5 = $301.8

Allowance as a % of Gross receivable = Allowance / Gross receivable

2014 = $13/319.80 = 0.041 =  4.1%

2013 = $14.5/301.8 = 0.015 = 1.5%

c. Average Net Accounts receivable = (Accounts receivable, net 2014 + Accounts receivable, net 2013) / 2 = ($306.8 + $287.3] / 2 = $297.05

Receivable Turnover = Net credit sales / Average Net Accounts receivable

Receivable Turnover = $2,989 / $297.05

Receivable Turnover = 10.06 Times

d) Cash received in 2014 = Beginning Gross receivables + Net sales - Ending Gross receivables-Adjustment in allowance (Write-off 2014)

Cash received in 2014 = $301.8 + $2,989 - $319.8 - $4.3

Cash received in 2014 = $2,966.7

Increase in customer deposits = $16 - 13.5 = $2.5

Total Cash received from customers in 2014 = Cash received in 2014 + Increase in customer deposits

Total Cash received from customers in 2014 = $2,966.7 + $2.5

Total Cash received from customers in 2014 = $2969.20

6 0
3 years ago
indirect materials are those used that enter into and become a major part of the finished product true or false
Hitman42 [59]
Yes it is true and it is correct
3 0
3 years ago
On December 31, 2022, Monty Company prepared an income statement and balance sheet and failed to take into account three adjusti
irga5000 [103]

Answer:

Salaries and Wages are owed so they are now liabilities. They are also expenses and will reduce the Net Income.

Rent Revenue was in advance for 2 months meaning one of those months will be December which is in the current period so;

= 7,520/2

= $3,760 will be added to net income for the year

The same amount will be removed from Liabilities as the revenue has now been recognized.

Depreciation reduces the value of Fixed assets so will be deducted from Assets.

It is also an expense so it will reduce Net Income.

Whatever happens to Net Income will happen to Stockholders' equity as well because Net Income is an Equity account.

5 0
3 years ago
The following information was taken from the segmented income statement of Restin, Inc., and the company's three divisions:
Rainbow [258]

Answer:

d. $75,000

Explanation:

                                total         Los Angeles    Bay Area  Central Valley  

Revenues           $750,000      $200,000     $235,000    $325,000

Variable exp.      $410,000        $110,000      $120,000     $180,000

Controllable       $210,000         $65,000        $75,000      $70,000

<u>fixed expenses                                                                                      </u>

controllable        $130,000        $25,000        $40,000      <u>$75,000</u>

profit margin

Noncontrollable fixed expenses and common fixed expenses are not included in the calculation of individual controllable profit margin.

7 0
3 years ago
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