A corporation uses the perpetual inventory system. On May 1, it sells merchandise on account for $10,000 with terms 2/10, n/30 t
o a customer. The corporation had paid $6,000 to acquire the merchandise. On May 7, the customer returns merchandise with an invoice price of $1,000 to the corporation. The merchandise returned to the corporation had cost the corporation $600. On May 10, the corporation receives payment for the merchandise retained by the customer. The journal entry that the corporation records when it receives the payment from the customer on May 10 includes a a) credit to cash for $8,820.
b) No answer text provided.
c) credit to cash for $9,000.
d) debit to cash for $8,820.
e) debit to cash for $9,000.
f) debit to cash for $8,816.
Nike and Adidas are considered as substitute goods that means they have positive cross elasticity of demand. When the price of Nike soccer balls fell, Rolando purchased more Nike balls compared to Adidas balls because of the substitution effect. The substitution effect led to this decision. A substitute effect is a change in the purchase decision, due to an increase in the price of one substitute good.
Geneva should choose an S Corporation. In my opinion she should do it because corporate income, losses, deductions, and credits are passed through to its shareholders, while it can be managed like a normal corporation.
If she chooses a Limited Liability Partnership she would still have to share management responsibility with her partners and C Corporations are heavily taxed. If she had enough money she could start a sole proprietorship business, but she doesn't have enough money.
A filmmaker will seek a sound production mixer who has the qualities and qualifications that is responsible for ensuring that dialogue recorded during filming is suitably clear, tries to avoid unwanted noises and works around the camera which might hamper the placement of microphones. A production sound mixer who has his or her own equipment as this choice can save the filmmaker a considerable amount of money in sound equipment rental, and the mixer is likely to be skilled in using his or her own equipment.
