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sergeinik [125]
3 years ago
5

Pure monopoly refers to_____. rev: 05_15_2018 Multiple Choice

Business
1 answer:
alisha [4.7K]3 years ago
5 0

Answer:

The correct answer is option c.

Explanation:

Pure monopoly refers to a market where there is a single producer selling a product with no close substitutes. Such type of market is very rare.  

There is restriction on entry and exit of firms in the market. The firm operating in this market is a price maker and faces a downward-sloping demand curve.  

No close substitutes, single seller and barriers to entry are essential conditions for a pure monopoly to exist.

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Hernandez Company had the following transactions during 2020, its first year in business:
Trava [24]

Question Completion:

Prepare Journal Entries.

Answer:

Hernandez Company

Journal Entries:

January 2 Debit Cash $1,512,000

Credit Common stock $630,000

Credit Additional Paid-in Capital-Common stock $882,000

To record the issuance of 42,000 shares of $15 par common stock for $36 per share.

April 3 Debit Cash $ 776,000

Credit Preferred stock $560,000

Credit Additional Paid-in Capital-Preferred stock $216,000

To record the issuance of 8,000 shares of $70 par preferred stock for $97 per share.

October 6 Debit Treasury Stock $30,000

Debit Additional Paid-in Capital-Common stock $28,000

Credit Cash $58,000

To record the repurchase of 2,000 shares of treasury stock for $29 per share.

December 9 Debit Cash $3,850

Credit Treasury stock $1,650

Credit Additional Paid-in Capital-Common stock $2,200

To record the reissuance of 110 shares of treasury stock for $35 per share.

Explanation:

a) Data and Analysis:

January 2 Cash $1,512,000 Common stock $630,000 Additional Paid-in Capital-Common stock $882,000

issuance of 42,000 shares of $15 par common stock for $36 per share.

April 3 Cash $ 776,000 Preferred stock $560,000 Additional Paid-in Capital-Preferred stock $216,000

issuance of 8,000 shares of $70 par preferred stock for $97 per share.

October 6 Treasury Stock $30,000 Additional Paid-in Capital-Common stock $28,000 Cash $58,000

repurchase of 2,000 shares of treasury stock for $29 per share.

December 9 Cash $3,850 Treasury stock $1,650 Additional Paid-in Capital-Common stock $2,200

re-issue of 110 shares of treasury stock for $35 per share.

4 0
2 years ago
Difference between accounts receivable and payable
Elina [12.6K]
When a company buys something on credit it increases account payable, and when a company sells on credit it will increase their account receivable.
7 0
3 years ago
Rachel Robinson owns a small retail store in Cairo, Georgia. The following summary information regarding expectations for the mo
Andrei [34K]

Answer:

Check the explanation

Explanation:

   January  

Beginning Cash Balance                                   $1,000  

Add: Collection:    

December Sale ($5,000*10%)                           $500  

January Cash Sale                                             $6,000  

January Credit Sale ($4,000*90%)                   $3,600  

Total Cash Available a                                      $11,100  

Cash payment to suppliers b                          $24,000  

Cash deficit before financing a-b                   $-12,900  

Add: Borrowing  (Using permutation-comb.) $14,040  

                                                                                   

Less: Interest Payment                                      $-140  

$14,040*12%*1/12    

Ending Cash Balance                                        $1,000

3 0
3 years ago
Browne, a self-employed taxpayer, has 2018 business net income of $15,000 prior to any expense deduction for equipment purchases
Vaselesa [24]

Answer: $20,000

Explanation: A taxpayer who spends less than $800,000 on equipment can deduct the cost of

equipment purchases up to a maximum of $250,000 per tax year. The deduction is limited to the amount that will reduce taxable income to zero.

7 0
3 years ago
Outdoor Adventures is a company that sells clothing and gear related to all types of outdoor activities. In an effort to stave o
MAVERICK [17]

Answer: (C) Relationship marketing

Explanation:

   The relationship marketing is one of the type of marketing form that helps in providing the various types of campaigns in order to understand the actual response of the consumer about the brands and the products.

The main objective of the relationship marketing is that it helps in creating the various types of new characteristics of the products based on the requirement of the customers and also strengthening the relations with the consumers.

According to the given question, the given company efforts is basically illustrating that the company is basically engaging in the relationship marketing.

 Therefore, Option (C) is correct answer.  

3 0
3 years ago
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