Answer and Explanation:
The journal entries are as follows;
a. On Jan 1
No journal entry is required
b. On Feb 5
Contra asset Dr $1,320
To Sales revenue $1,320
(being sales revenue is recorded)
Cost of goods sold Dr $670
To Inventory $670
(being cost of goods sold is recorded)
c. On Feb 25
Cash $3,300
Contra asset Dr $1,320
To Sales revenue $1,980
(being sales revenue is recorded)
Cost of goods sold Dr $300
To Inventory $300
(being cost of goods sold is recorded)
Answer:
D. The marginal cost of light is zero, and by convention zero-priced goods and services are excluded from GDP
Explanation:
Only things that have a monetary cost are included in GDP. Things that do not cost "anything" in monetary terms are not included, and this is a major shortcoming of GDP.
From an ecological economics standpoint, things like sunlight, air, and water are often not valued and included in GDP. This is the same case as in the question, because the marginal cost of light is zero, then, it is not included in GDP.
Answer: Suggestive selling
Explanation: the recommendation to purchase an extended warranty service in addition to the purchase of a laptop computer by the salesperson is an example of suggestive selling. It is a form of stimulus-response presentation involving suggesting an initial or an additional purchase (the extended warranty). It is also known as add-on selling or upselling and is used to increase the purchase amount of the buyer thus increasing revenue of the store.
Find the attachment for solution.
Note: The .015 or 1.5% is a cost due to the insurance, that is why you include it
Answer:
amount receive is $2653.90
Explanation:
given data
time t = 12 year
present value = $20000
rate r = 8 % = 0.08
to find out
how much income receive each year
solution
we will apply here present value formula that is
present value = amount × .........1
put here all these value in equation 1 we get amount
present value = amount ×
20000 = amount ×
solve it and we get amount = 2653.90
so amount receive is $2653.90