Answer:
$1,487.5 is the amount of commission (load) Bart must pay
Explanation:
Commision to be paid :
which is equal to
=$35000*4.25%
which is equal to
=$1487.5.
Answer:
1. The likelihood of a payment occurring is probable, and the estimated amount is $1.14 million.
- Dr Law suit loss 1,140,000
- Cr Law suit liability 1,140,000
2. The likelihood of a payment occurring is probable, and the amount is estimated to be in the range of $0.94 to $1.14 million.
- Dr Law suit loss 940,000
- Cr Law suit liability 940,000
US GAAP allows companies to record probable losses at lowest estimated value.
3. The likelihood of a payment occurring is reasonably possible, and the estimated amount is $1.14 million.
- no journal entry is required, only a disclosure in the footnotes of the financial statements.
A contingent liability (or loss) that is only possible, but not probable, does not need to be journalized and recorded. It only needs to be disclosed in the footnotes of the financial statements.
4. The likelihood of a payment occurring is remote, while the estimated potential amount is $1.14 million.
- no journal entry is required
A contingent liability (or loss) that is remote, does not need to be journalized or recorded, nor included in the footnotes of the financial statements.
Answer:
Swen is using product/service repositioning strategy.
Explanation:
Product Repositioning simply refers to the art of altering the target markets perception of one's product and or services.
Swen is still in the clothing business. He has only changed the way he delivers it to the target consumers.
Of course, this sometimes calls for a change in product mix (which refers to altering the type of products being offered). However, the central idea of the strategy still holds as customers now see the business differently.
This type of strategy is easier to pull off for start-ups, or unpopular businesses trying to make a comeback. Where the business is a well-established brand, it can prove extremely difficult and may be costly.
Cheers.
<span>a merchandise purchases budget replaces the production budget.
the manufacturing budgets are not applicable.</span>
