Answer:
Yes, Michael will afford the boat
Explanation:
So far Michael has saved $11,000.
The boats costs $30,000 to purchase.
Michael needs to raise $19,000 ($30,000 - $11,000) in two years to buy the boat.
Michael saves $900 per month. In 24 months he will have saved
=$900 x 24
=$21,600
Michael requires $19,000 but will have save $21,600 in two years. Therefore, he should be able to purchase the boat.
Answer:
Explanation:
To record note received
On June 23. Debit Credit
Notes Receivable $48,000
Accounts receivable for Radon ExpressCo $48,000
interest revenue = $48,000 x 8%x 90/360
To record dishonored note
On September 21st Debit Credit
Accounts receivable for Radon Co $48,960
Notes Receivable $48,000
Interest Revenue $960
Interest Revenue $48,960 x 10%x 30/360 = $408
Journal to record Cash Received
October 21 Debit Credit
Cash $49,368
Accounts Receivable for Radon Express Co $48,960
Interest $408
The average total cost of the firm is $75.
<h3>What is the average total cost of the firm?</h3>
The average total cost is the sum of the average fixed cost and the average variable cost.
The average total cost = average fixed cost + average variable cost
$25 + $50 = $75
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Answer:
Management by exception
Explanation:
This is a practice of examining the financial as well as operational results of a business and bringing to management only those differences that show a significant difference between the budgeted and actual amounts. This allows managers to focus on the highly important variances that can affect the growth and profitability of a company significantly. This concept, can however be fine-tuned where small variances are shown but to low-level managers whilst the senior managers will look at the large variances.
Corporate strategy correlates with achieving the highest profit margins, and ROI attracts more customers.
Strategy is the long-term plan that a business creates to achieve its desired future state. Your strategy includes your company goals, the type of product/service you want to develop, the customers you want to sell to, and the markets you want to serve profitably.
His three examples of these corporate strategies are applicable at certain times in the life of a company. Grow: Expand your business and increase your profits. Stability: To maintain continuous business operations. Renewal: To revive a declining business.
According to Porter's general strategy model, an organization has his three basic strategic options for achieving competitive advantage. These are cost leadership, differentiation and focus.
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