Answer:
Accounts receivable - Audrey's Antiques $3036 Dr
Service Revenue $3036 Cr
Accounts Receivable - Michael's Motors $680
Service Revenue $680
Explanation:
Both the services are provided on account which means that the services are provided on credit and cash against these services are yet to be received. Thus we debit the accounts payable that will be creadted because of these services and credit the service revenue.
The company gives 8% trade discount for sevices above $1000 and as Audrey's Antiques receives services of $3300 it will receive the trade discount while Michale's motors will not receive it.
The trade discount is provided on the list price and it is not recorded in the books of accounts. Thus the service provided to Audrey's will be recorded at 3300 - (3300 * 0.08) = $3036.
The stage of the product development life cycle is the hiking boot in maturity stage.
<h3>What stage of the product life cycle demands marketers to focus extra emphasis on how their product is distributed?</h3>
During this phase, "This brand is the best!" is the main message used in marketing and promotion. Additionally, when pricing gets more competitive, it must be changed to fit the differentiation strategy. The marketer frequently needs to focus heavily on distribution during the growth period.
<h3>Which stage of the product lifecycle could potentially demand the largest outlay of funds for marketing initiatives?</h3>
Stage of the market's emergence. Consider the stage of product launch as the market introduction. A substantial marketing investment is necessary for this PLC phase. The product's advantages are not yet known by the market.
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A credit to a liability account would happen upon the sale of a product because the Merchandise that was sold is subject to state sales tax.
<h3>What do credit do to liabilities?</h3>
In accounting, a credit is always been positioned on the right side of an entry and it effect is that it increases liability, revenue or equity accounts and decreases asset or expense accounts.
Because the state sales tax is seen as expenses, then, a credit to a liability account would happen upon the sale of a product because the Merchandise that was sold is subject to state sales tax.
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The more debt used, the greater the leverage a company employs on behalf of its owners.
<h3>
What is financial leverage?</h3>
Financial leverage exists as the usage of borrowed money (debt) to finance the purchase of assets with the anticipation that the income or capital gain from the new asset will surpass the cost of borrowing.
<h3>What is financial leverage example?</h3>
An example of financial leverage use contains utilizing debt to buy a house, borrowing money from the bank to begin a store, and bonds issued by companies.
Debt exists as an obligation that requires one party, the debtor, to pay money or other agreed-upon value to another group, the creditor. Debt stands for deferred payment, or sequence of payments, which distinguishes it from an immediate purchase.
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Answer:
2) perfectly vertical
Explanation:
When the price elasticity of demand is perfectly inelastic, the demand curve is perfectly vertical. This means that the quantity demanded will remain the same no matter what price.
In this scenario, the supply curve for oranges shifted to the left due to the early freeze, which results in a price increase at every level of quantity demanded. Since the demand is perfectly inelastic, the new equilibrium price will be determined by the how much the supply curve shifts.
