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3 years ago

Consider the following situations for Shocker:

Business

1 answer:

Delicious77 [7]3 years ago

5 0

Answer:

Cash $4,500 (debit)

Deferred Revenue $4,500 (credit)

Prepaid Advertising $2,700 (debit)

Cash $2,700 (credit)

Salaries Expense $8,000 (debit)

Salaries Accrued $8,000 (credit)

Cash $70,000 (debit)

Note Payable $70,000 (credit)

Interest Expense $2,100 (debit)

Note Payable $2,100 (credit)

Explanation:

Recognize Cash and Deferred Revenue

Recognize Asset - Prepaid Advertising and De-recognize Cash

Recognize Salaries Expense and Recognize Salaries Accrued Liability

Recognize Cash Asset and Recognize Liability - Note Payable

Recognize Interest income accrued on the Note Payable during September to December.

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Each Cutco knife goes through 30 steps to ensure that it meets the firm's standards and provides a good value for a premium prod

Yuki888 [10]

Answer 1: Consistency in quality

Explanation: Consistency in quality means that an organization tends to brings about a an overall consistency among the employees and the goals of the company. This leads to the outcome of quality consistent product by defining developmental steps and processes.

In above scenario, the 30 steps of knife making make sure that each knife is consistent with defined quality goals of the organization and its reputation.

Answer 2: Product differentiation

Explanation: Product differentiation is a concept in which a company tends to present its products to the market in a way that it establishes a specific place in the market and in ts own product line.

The product development consists of high quality materials and the final product stands out in the market. The market of such products is very niche. The Knife Cutco is promoting, is going through the product differentiation phase.

Answer 3: Product positioning

Explanation: Product positioning is a phenomenon in which a company positions their products in the minds of the consumer. They build an imagery of their product which is thought on every mention of that product.

When Cutco decided to make a donation with every pink handled knife sold, it was creating a perception of Goodwill attached to this product. It automatically attracts the donaters and do good people in the market.

Answer 4: Promotion

Explanation: Promotion is one of the biggest reasons why a product move ahead in the priority list of the customers. It enhances the positives and hides the negatives and creates a perception in the minds of the customers.

Cutco promotes its products on the basis of its products' value, premium quality, exceptional service, and the fact it is "made in the USA." This segregates them from the rest of the market and pushes it in the front row, by creating trust and reputation.

Therefore, this represents Cutcos' promoting strategies and efforts.

8 0

2 years ago

On March 1, 20Y8, Eric Keene and Renee Wallace form a partnership. Keene agrees to invest $21,060 in cash and merchandise invent

tester [92]

Answer:

Explanation:

a. The journal entries are shown below:

Cash $21,060

Merchandise inventory $56,290

To Eric Keene's Capital $77,350

(To record investment made)

Accounts receivable $17,770

Equipment $54,190

Cash (Liabilities - Assets) $40,820

To Allowance for doubtful accounts $1,950

To Accounts payable $14,910

To Notes payable (current) $35,970

To Reene Wallace's capital $59,950

(Being capital contribution by Reene wallace is recorded)

KEENE AND WALLACE

Balance Sheet

March 1, 20Y8

Assets

Current Assets

Cash (21,060 + 40,820) $61,880

Accounts Receivable Less Allowance $15,820

Merchandise inventory $56,290

Total current assets $133,990

Property, plant and Equipment

Equipment $54,190 54,190

Total Assets $188,180

Liabilities

Current Liabilities

Accounts Payable $14,910

Notes Payable $35,970

Total liabilities $50,880

Partner's Equity

Eric Keene's capital $77,350

Renee Wallace's capital $59,950

Total partner's equity $137,300

Total liabilities and partner's equity $188,180

7 0

2 years ago

Although Scott, an African American, was more qualified than Bernardo, a Hispanic American, Bernardo was hired instead of Scott

goblinko [34]

Answer:

B. Discrimination

Explanation:

Discrimination refers to the act of unfair judgement on a specific group of people based on characteristics such as age, gender, race, religion, country or even sexual orientation. It involves discriminating (treating a person unfairly) against a person because of the characteristics he or she possesses. In this case, Scott was discriminated against because he's an African American and believed by the employer not to be hardworking because of his race.

7 0

3 years ago

Ari, Inc. is working on its cash budget for December. The budgeted beginning cash balance is $23,000. Budgeted cash receipts tot

xenn [34]

Answer:

The business will need to borrow $34,000

Explanation:

We will need to analyse the cash flows the business has in order to determine how much needs to be borrowed to meet the ending cash balance desired.

The opening cash balance is $23,000, cash inflow as receipts is $136,000

So total cash on hand will be 23,000+ 136,000= $159,000

The cash on hand less disbursements will give ending balance

Ending balance = 159,000 - 135,000

Ending balance= $24,000

Desired closing balance is $58,000

Balance to meet desired cash= 58,000 - 24,000

Balance to meet desired cash= $34,000

4 0

3 years ago

When President Obama was president he had discussed raising income taxes for individuals earning over $250,000 in income. Explai

Allisa [31]

Answer:

A) Higher income taxes will cause a decrease in disposable income and this will affect personal expenditure which will cause the aggregate demand curve to shift leftwards ( decrease in price level and real GDP )

i) Change in input price

ii) Change in production cost

iii) Increase in labor supply or increase in capital stocks

Explanation:

A) Effects of higher income taxes on aggregate demand curve

i) Higher income taxes will cause a decrease in disposable income and this will affect personal expenditure which will cause the aggregate demand curve to shift leftwards ( decrease in price level and real GDP )

B) The factors that will cause the short-run aggregate supply curve to shift

a) Change in input price

b) Change in production cost

c) Increase in labor supply or increase in capital stocks

7 0

3 years ago