Explanation:
The journal entry is shown below:
Cash A/c Dr $1,372
Sales Returns and Allowances A/c Dr $600
Sales Discounts A/c Dr $28
To Accounts Receivable A/c $2,000
(Being the cash is received)
The computation is shown below:
For sales discount
= (Sales value of merchandise - returned goods) × discount rate
= ($2,000 - $600) × 2%
= $28
And, the remaining balance is debited to the cash account
Answer:
b. Ticket prices will be higher because each team is a monopoly in the city.
Explanation:
A monopoly is when there is only one firm operating in an industry. Monopoly usually have market power. They have the ability to set market prices. They usually earn economic profit in the long and short run.
Monopolies are not faced with any competition because they are the only firms operating in an industry.
Because there are usually only one major league in each town, the teams are monopolies, they have the ability to set high prices and do not face competition.
I hope my answer helps you
Answer:
The answers are:
- equity
- claim to partial ownership
- bondholders
Explanation:
Equity financing: refers to the process of raising money by selling company's shares or stock.
Claim to partial ownership: when an individual or business buys a share from another company, it becomes a partial owner.
Bondholders: refers to individuals or companies that own bonds issued by a private company or by a government entity.
Answer:
A) $200,000 to Jack
Explanation:
Jack is the primary beneficiary to his late wife's life insurance policy and since he is still alive, so he should get the whole $200,000.
His daughters, Mimi and Ann, are the contingent beneficiaries. That means that in case Jack had died before his wife or he was incapacitated for some reason, then they would have become the beneficiaries of the insurance policy (and each would have received $100,000).
Answer:
$21
Explanation:
The earning per share of Rose Co. is $1.40
The benchmark PE of the organization is 15
We are required to find which stock price would be most appropriate
Therefore, the stock price can be calculated as follows
Stock price= Benchmark PE×Earning per share
= $1.40×15
= $21
Hence the stock price that would be considered appropriate is $21
