Answer:
D. Net income of $150,000
Explanation:
$705,000 + X - $30,000 = $825,000
X = $150,000
In order to compete with the online retailers, the traditional retailers can use franchises that deliver, require an administered system for all, and increase their market share.
<h3>Who is a retailer?</h3>
A manager or owner of a business organization or a unit that specializes in selling of products to their customers, which they procure from the supplier, is known as a retailer.
Hence, options A, C and D hold true regarding the traditional retailers.
Learn more about a retailer here:
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Normal profit is zero and price equals marginal cost.
Answer:
B) $3,000
Explanation:
Since this is defined as a derivative operation, its result must be reported either as a gain or loss as part of normal income. Imp entered a contract to buy 100,000 euros at $0.90. If the exchange rate remained at $0.90 in 90 days, no gain or loss should be recognized.
But the currency exchange increased to $0.93 per euro, so the contract now results in a $0.03 gain per euro (= $0.93 - $0.90), so a gain of $0.03 x 100,000 = $3,000 must be reported.
Answer:
The journal entries relating to the conversion of preferred stock to common stock are highlighted below:
Dr Preferred stock $45,000
Dr Paid-in capital in excess of par $9,900
Cr Common stock $18,000
Cr Paid-in capital in excess(balancing figure) $36,900
Explanation:
Find in the attached the detailed computations of the amounts above.
