Answer and Explanation:
The journal entries are shown below:
On April 8
Cash $9,120
Credit card expense $380 ($9,500 × 0.04)
To Sales $9,500
(Being sale is recorded)
Costs of goods sold $7,021
To Merchandise inventory $7,021
(Being the cost of goods sold is recorded)
On April 12
Cash $7,215
Credit card expense $185 ($7,400 × 2.5%)
To Sales $7,400
(Being sale is recorded)
Costs of goods sold $4,795
To Merchandise inventory $4,795
(Being the cost of goods sold is recorded)
Investment bankers perform all of the following functions except manage mutual funds.
<h3>Who is an investment banker?</h3>
Investment bankers underwrite securities on a firm commitment (principal) basis; and on a best efforts (agency) basis.
Investment banks also advise companies on mergers, acquisitions, divestitures and spin-offs.
Hence, Investment bankers perform all of the following functions except manage mutual funds.
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Answer:
$64,000
Explanation:
In order to be deductible, a business expense must be both ordinary and necessary. Being ordinary means that it is a plausible expense for this business, since the expense in question is related to accounting services, it is ordinary. Being necessary means that the expense is the minimum required and is appropriate and helpful to the business. In this case, all of the expense was not required, therefore, only $64,000 (the reasonable market value for the services provided) are deductible.
There are different aspects of demand curves. The answers is below;
- A cure for lung cancer is found: The demand curve, in this scenario, will shift to the right along as the cure for lung cancer is found which will also increase or move right.
- The price of cigars will also increases and the demand increases while the curve moves to the right
- Wages will also increase in states that grow tobacco, while the supply will decreases and the curve will moves left.
- A fertilizer that increases the yield per acre of tobacco is discovered, this will make supply increases and the curve moves to the right.
- There is a sharp increase in price of matches, lighters, and lighter fluid, This will make the demand decreases and the curve to go left.
- More states pass laws restricting smoking in restaurants and public places, this will make demand decreases and the curve to go left.
<h3 /><h3>Demand curve
</h3>
The demand curve is known as a curve that helps to give all the possible combinations of the price and quantity demanded of a product or service at a given time and in a graphically manner.
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Answer: Destination Contract.
Explanation:
Destination Contract is a contract for the sale of goods, in which the seller is required or authorized to ship the goods by carrier and tender delivery of the goods at a particular destination.
The seller assumes liability for any losses or damage to the goods until they are tendered at the destination specified in the contract.
The seller bears the risk of loss until he completes his delivery requirements as stated under the destination contract. If the goods are destroyed or damaged while in transit to buyer, the seller bears the loss.
After the delivery company has delivered the goods at the buyer’s location, then the seller is no longer liable for any damages after that.
