Answer:
See Explanation section
Explanation:
We know,
Profit = Sales - Expenses
To find the total seminar profit, we have to determine the number of newly opened accounts. As it is binomial distribution, we have to make an equation to reach out the seminar profit -
Therefore, the profit equation = (new opened account × Sales commission) - Fixed seminar costs
Since we do not know how many attended open account, the profit equation of seminar = (New open account × $5,300) - $3,700
Answer:
d. is a written promise to pay a specified amount of money at a certain date.
Explanation:
A promissory note, also known as note payable, is a financial instrument used when you borrow or loan money, it establishes the terms and details of the agreement (amounts, interests, late fee, <em>maturity date,</em> etc.). <em>It consists of a written promise where the issuer promises to fulfill the terms and to pay to the payee on the determined date.</em>
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Answer: <em>No, since the value of the cash flows over the first two years are less than the initial investment</em>
Explanation:
value of cash flows for the first two years = $48,000 (24,000x2)
Initial Investment = $50000
Because the additional $48,000 profit during the two year payback is not grater than the $50,000 purchase, they should not put the large neon sign up.
Explanation:
The journal entry are as follows
On April 20
Sales returns A/c Dr $3,000
To Account receivable A/c $3,000
(Being the sales returned of goods is recorded)
While recording this given transaction, we debited the sales return account and credited the account receivable account so that the proper posting could be done
