Answer:
Accounts receivable - Audrey's Antiques $3036 Dr
Service Revenue $3036 Cr
Accounts Receivable - Michael's Motors $680
Service Revenue $680
Explanation:
Both the services are provided on account which means that the services are provided on credit and cash against these services are yet to be received. Thus we debit the accounts payable that will be creadted because of these services and credit the service revenue.
The company gives 8% trade discount for sevices above $1000 and as Audrey's Antiques receives services of $3300 it will receive the trade discount while Michale's motors will not receive it.
The trade discount is provided on the list price and it is not recorded in the books of accounts. Thus the service provided to Audrey's will be recorded at 3300 - (3300 * 0.08) = $3036.
Comparative financial statements in which each financial statement amount is expressed as a percentage of a base amount are called Common-size comparative statements.
<h3>What is a comparative financial statement?</h3>
A comparative statement is a record used to compare a particular financial statement with previous period statements. Previous financials are shown alongside the latest figures in side-by-side columns, allowing investors to identify trends, track a company's progress and approximate it with industry rivals.
<h3>What is a comparative statement also known as?</h3>
Comparative statements are the form of horizontal analysis. A common size statement shows the profitability and financial position of a firm for different periods in a comparative form to give an idea about the position of two or more periods.
To learn more about Comparative financial statements visit the link
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Answer:
$1.50 per bag
Explanation:
The price that yields a fair rate of return is also the price that makes economic profit = 0. That sales price = average total cost. So we first must determine total costs for producing 20 million bags:
- total costs = fixed costs + variable costs = $10 million + (20 million x $1) = $30 million
Now we need to determine average total cost:
- average total cost at 20 million bags = $30 million / 20 million bags = $1.50 per bag
Answer: The correct answer is "Character".
Explanation: The character is the set of traits, qualities or circumstances that indicate the nature of a thing or the way of thinking and acting of a person, and by which it is distinguished from others.
So, one of the major influences on building partnering relationships in personal selling is <u>character,</u> composed of personal standards resulting in decisions made about what's right and wrong.
Answer:
Intangible assets
Explanation:
A classified balance sheet is a financial statement that classifies the components in the balance sheet into different groups. For example, assets are classified into current or non current asset
Current assets are all the assets that are either used by a company or sold in the course of the year of the company.
Current assets include
- cash, cash equivalents
- accounts receivable
- stock inventory
- marketable securities
- pre-paid liabilities
Intangible assets are classified as noncurrent (long-term) assets
