Answer:
Please refer the journal entries below
Explanation:
Trade Discount:
There is no accounting entry for the trade discount, trade discount is simply deducted from the total amount and the entry is passed after incorporating the trade discount
1) Audrey’s Antiques
Since Audrey’s Antiques have taken the services amounting more than $1,000, they are eligible for the trade discount of 12% i.e. ( 12% of $1,900) = $228, hence Income will be recorded at ($1,900 - $228) = $ 1,672
Advertising Fee Receivable Debit $ 1,672
Advertising Fee Income Credit $ 1,672
2) Michael’s Motors
Since Michael’s Motors have taken the services amounting less than $1,000, they are not eligible for the trade discount of 12%
Advertising Fee Receivable Debit $ 540
Advertising Fee Income Credit $ 540
Answer: D produces more good and services
Explanation:
Edg 2021
Answer:
your father originally invest is $13035.72
Explanation:
given data
investment time = 33 years
interest rate = 4.25 percent
totaled $51,480.79
solution
we get present value by future value formula that is
future value = present value × 
.........................1
put here value and we get
$51480.79 = present value × 
solve it we get
present value = $13035.72
so your father originally invest is $13035.72
Answer:
(a) 242,500 units
(b) 267,500 units
Explanation:
(a) Break-even point in sales units:
= Fixed costs ÷ (Selling price per unit - Variable cost per unit)
= $4,850,000 ÷ ($80 - $60)
= 242,500 units
(b) Break even point in sales units if the company desires a target profit of $500,000:
= (Fixed cost + Target profit) ÷ (Selling price per unit - Variable cost per unit)
= ($4,850,000 + $500,000) ÷ ($80 - $60)
= $5,350,000 ÷ $20
= 267,500 units
Answer:
Price elasticity of demand measures how much the quantity increases when price decreases.
Explanation:
Price elasticity is the percentage change in the quantity demanded, divided by the percentage change in the price.
If the percentage in the change in the quantity demanded is bigger than the percentage in the change of the price we talk about elastic demand.
If the percentage in the change in the quantity demanded is smaller than the percentage in the change of the price we talk about inelastic demand.
And if he percentage in the change in the quantity demanded is excatly the same than the percentage in the change of the price we talk about unit elastic demand.
