Answer: There was no gain or loss on the sale of this asset.
Explanation: In order to calculate how much profit/loss was made on an asset when it is sold, you have to take the cost price of the asset, and deduct the accumulated depreciation of the asset up to the date of sale. This is known as the book value of the asset, and shows how much it was worth on the day it was sold.
Cost price is the purchase price that the asset was worth on the day it was bought by Strike Company. Accumulated depreciation is the total reduction of the worth of an asset periodically, because of wear and tear.
Book value is calculated as:
Cost price: $244,400
- Accumulated depreciation: ($219,960)
= Book Value = $24,440
However the asset was sold for $24,440. This means that Strike Company sold this asset at its pure value, which is the book value. Thus forfeiting the chance to make a profit, or a loss.
Explanation:
Data provided in the question
Change in the inventory = $1,030,000
i.e Opening inventory = $1,030,000
Income tax rate = 35%
So, the cumulative effect in the year 2018 is
Opening inventory $1,030,000
Less: income tax rate i.e 35% -$360,500
Balance $699,500
This balance would be addition to the beginning balance of the retained earning statement
Answer:
yes
Explanation:
The way the system works is tricky but the thing to realize is that people can always be deceitful and act different than they are.
For a branded house strategy, the following is often essential, (C) use of strong, individual, or separate brand names.
<h3>
What is branded house strategy?</h3>
- A Branded House is a marketing approach in which multiple companies' products are sold under one name/branding umbrella.
- If the master brand/company wants more control over the end product's production, distribution, and cost, this technique is ideal.
- Apple is an example of a branded house.
- Apple offers numerous goods, many of which are well-known enough to stand alone as product brands.
- However, they are all clearly branded Apple and exploit the master brand's visual identity and spirit.
- A Branded House strategy provides various benefits to businesses that provide different services or products under one brand, including Efficiency - a single marketing plan and brand code cover all offerings.
- Ease - by keeping all offerings under the same brand, confusion and competition are avoided.
Therefore, for a branded house strategy, the following is often essential, (C) use of strong, individual, or separate brand names.
Know more about branded house strategy here:
brainly.com/question/6412726
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Complete Question:
If each of two competing monopolists undertakes equal advertising efforts to attract consumers away from the other, the total result is
Group of answer choices:
A. they will both increase market share.
B. they will simply neutralize one another's efforts.
C. they will both lose market share.
D. they will both improve their industrial position.
Answer:
B. they will simply neutralize one another's efforts.
Explanation:
If each of two competing monopolists undertakes equal advertising efforts to attract consumers away from the other, the total result is they will simply neutralize one another's efforts.
A monopolist can be defined as an individual who is engaged in selling a unique product in a market without any competitor. Also, a monopolistic competition involves various firms engaged in monopoly competes with one other, but selling products that are unique and distinct from the other.
Hence, when two competing monopolists undertakes equal advertising efforts to attract consumers away from the other, this would result in one monopolist effort canceling or nullifying the effort of the other. This simply means that, it would have been as though none of them had made any effort at all because they were both involved in doing the same thing. Thus, making the market the same as it were originally prior to their advertising efforts.
