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2 years ago

Which of the following best represents the pricing behavior of firms in a monopolistically competitive industry?

Business

1 answer:

allochka39001 [22]2 years ago

3 0

Answer:

The correct answer is option B.

Explanation:

A monopolistic firm is characterized by a large number of buyers and sellers in the market producing differentiated products which are close substitutes, there are relatively easier entry and exit in the market.

In the given question, Teen Angle Hardware is looking for a niche or a slightly differentiated product to sell to teenagers. But is able to earn only a normal profit because there is a large number of firms in the market. And new firms can enter the market in the long run. So, this firm is an example of a monopolistic firm.

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Presented below is information for Marin Company.

hram777 [196]

Answer:

Debit Accounts Receivable for $104,700; and Credit Sales Revenue for $104,700.

Debit Cash for $85,400; and Credit Accounts Receivable for $85,400.

Explanation:

The (summary) journal entries to record the items noted will look as follows:

<u>Particulars Debit ($) Credit ($) </u>

Accounts Receivable 104,700

Sales Revenue 104,700

<u><em>(To record net sales (all on account) for the year.) </em></u>

Cash 85,400

Accounts Receivable 85,400

<u>(Collections on accounts receivable during the year.) </u>

3 0

2 years ago

Which phrase best describes a country's monetary base?

vampirchik [111]

Answer: all money in circulation throughout the economy

Explanation: apex

3 0

3 years ago

Kingbird Company has the following stockholders’ equity accounts at December 31, 2017.Common Stock ($100 par value, authorized 8

viktelen [127]

Answer:

Journal Entries :

Common Stocks $29,400 (debit)

Cash $29,400 (credit)

Dividends Declared $174,300 (debit)

Shareholders for Dividends $174,300 (credit)

Shareholders for Dividends $174,300 (debit)

Cash $174,300 (credit)

Cash $30,600 (debit)

Common Stocks $30,600 (credit)

Common Stocks $48,300 (debit)

Cash $48,300 (credit)

Cash $29,100 (debit)

Common Stocks $29,100 (credit)

Explanation:

Common Stocks $29,400 (debit)

Cash $29,400 (credit)

Purchase Cost = 300 shares × $98 = $29,400

Dividends Declared $174,300 (debit)

Shareholders for Dividends $174,300 (credit)

Dividend Calculation = (8600 - 300) × $21 = $174,300

<em>Note : Recognize the Liability : Shareholders for Dividends and recognise the Equity Element : Dividends Declared</em>

Shareholders for Dividends $174,300 (debit)

Cash $174,300 (credit)

<em>Note : De-recognize the Liability : Shareholders for Dividends and De -recognize the Assets of Cash.</em>

Cash $30,600 (debit)

Common Stocks $30,600 (credit)

Proceeds = 300 shares × $102 = $30,600

Common Stocks $48,300 (debit)

Cash $48,300 (credit)

Purchase Cost = 460 shares × $105 = $48,300

Cash $29,100 (debit)

Common Stocks $29,100 (credit)

Proceeds = 300 shares × $97 = $29,100

5 0

3 years ago

Which statement is true about reporting receivables on the balance sheet?

MAVERICK [17]

<h3>Answer:</h3>

D. Allowance for Doubtful Accounts is shown as a deduction from Accounts Receivable on the balance sheet.

<h3>Explanation:</h3>

Balance sheet is a statement of account that shows the number of assets, liabilities, capital and net profit or loss in an organisation.
Receivables refers to the amount that the seller ios owed by the customers or buyers.
Therefore, receivables are current assets in a business and are listed on the left side of the balance sheet.
Allowance for doubtful accounts is listed as a deduction below the accounts receivable as it is a reduction of the total amounts on accounts receivable.

3 0

3 years ago

The allowance for doubtful accounts currently has a debit balance of $200. The company's management estimates that 2.5% of net c

lidiya [134]

Answer:

Bad debt expense (w/o allowance) = $2,875

Bad debt expense ( with allowance) = $2,675.

Explanation:

According to the scenario, the given data are as follows:

Net credit sales = $115,000

Uncollectible percentage = 2.5%

So, we can calculate the bad debt expense without Allowance for doubtful accounts by using following method:

Bad debt expense ( W/o allowance) = $115,000 × 2.5%

= $2,875

After Allowance for doubtful expense

Bad debt expense = $2,875 - $200

= $2,675

4 0

3 years ago