Answer:
D.Cash 1,274 Sales Discount 26 Accounts Receivable 1,300
Explanation:
The journal entry is shown below:
Cash A/c Dr $1,274
Sales Discount A/c Dr $26
To Accounts receivable $1,300
(Being cash received recorded)
The computation of the account receivable
= Credit sales - returned goods
= $1,800 - $500
= $1,300
And, the discount would be
= Accounts receivable × percentage given
= $1,300 × 2%
= $26
The remaining amount would be credited to the cash account.
Answer:
The net income is $150,500 and the return on assets is 20.06 %
Explanation:
The formula for computing net income and return on assets is shown below and the computation is also made.
Net income = Sales revenue × Profit margin
= $2,150,000 × 7%
= $150,500
Return on assets = Net income ÷ total assets
= $150,500 ÷ $750,000
= 0.2006
= 20.06 %
Thus, the net income is $150,500 and the return on assets is 20.06 %
Answer:
C
Explanation:
Adjusted R^2 is calculated for multiple explanatory variables and R^2 value is calculated for only one explanatory variable.
Adjusted R^2 is always greater than R^2. As the sample size is increased or more variables are included, R^2 value increases and becomes closer to adjusted R^2 value. Adjusted R^2 value accounts for the number of variables and sample size
Assume that the market for corn is perfectly competitive. Currently, firms growing corn are generating losses. In the long run, we can expect "some firms to exit causing the market price of corn to rise.".
<h3>What is perfectly competitive market?</h3>
According to economic theory, perfect competition exists when all businesses sell the same goods, market share has no bearing on prices, businesses can enter or quit the market without any obstacles, consumers have perfect or complete information, and businesses are unable to set prices.
There are five characteristics that have to exist in order for a market to be considered perfectly competitive. The characteristics are -
- homogenous items,
- no entry or exit obstacles,
- price taker sellers,
- transparent products, and
- no seller has any control over market prices.
The three key components of perfect competition are as follows:
- There are a lot of buyers and sellers in the market.
- These buyers and sellers are in competition with one another.
- The good being offered or purchased is uniform.
- Companies are free to enter or leave the market.
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<span>Description of this experiment: This type of experiment would be deemed as completely randomized, as the subjects are chosen at random to watch the commercial. The subjects are 15 children under 10 years old. The different factors in this experiment are the commercials, as well as the 3 levels of products (types). The response in this experiment would be the children's attention span.</span>
