Answer and Explanation:
The journal entry is shown below:
Cash $8,730
Sales Discount ($9,000 × 3%) $270
To Accounts receivable $9,000 ($10,000 - $1,000)
Here cash and sales discount is debited as it increased the assets and discount while on the other hand the account receivable should be credited as it reduced the assets
Answer: 82,650 units
Explanation:
Equivalent Units of Production (EUPs) for the conversion costs = Units transferred out + Percentage of completed Ending Inventory
Ending Inventory = Beginning Work-In-Process + Units started into production - Units transferred out
= 9,900 + 99,000 - 66,900
= 42,000 units
Equivalent Units of Production (EUPs) for the conversion costs = 66,900 + (3/8 * 42,000)
= 82,650 units
Answer:
a. True
Explanation:
The sole proprietorship and partnerships outnumber corporations in United States but they net fewer sales and less income than corporations, individually and when combined.
Answer:
b. Monopolistic competition is likely to result in a greater variety of product brands than pure competition.
Explanation:
Monopolistic competition is a competitive structure in which few companies operate in an industry that offers the same type of service or product, but differences. In this way each firm holds the relative monopoly of the product. For example, in the toothpaste market, companies sell the same product (toothpaste) but each company tries to differentiate their product from others.
In the competitive structure, several companies sell various products in a free competitive regime, having no monopoly power. Thus, the number of companies and products is infinitely larger than in monopolistic competition.
Answer:
The correct answer is letter "B": predatory pricing.
Explanation:
Predatory pricing refers to companies setting prices below the average level in an attempt to wipe out competition. In the beginning, consumers may benefit from the low prices but after the competition has disappeared, the predatory company raises the prices, but, in this scenario, consumers do not have substitutes from where to choose. The predatory company became a monopoly.
Predatory pricing practices are forbidden by the Federal Trade Commission (FTC) in the U.S.
