Answer: Marketing Strategy
Explanation: Marketing strategies are additional benefit a business owner creates in its business to make it different from others in the same industry and to make prospective clients permanent customers.
Marketing strategies gives the business a better edge in its industry as it gives the business better sales.
Answer: The correct cash balance for Sooner Company is "(C) $7,150."
Explanation: The balance of the company before the settlement was $ 5000. The data to take into account to adjust the differences are:
Notes collected by the bank $ 2,200
Service fee $ 50
<u>Therefore: 5000 + 2200 - 50 = $7150</u>
Answer:
$54,020
Explanation:
Total fixed costs = Fixed selling and administrative expenses
Total fixed costs = $54,020
Thus, the total fixed costs for the firm is $54,020
Answer:
$1 or 100% of the tax
Explanation:
When the price elasticity of demand is 0, it means that the good or service will be purchased regardless of its cost. Very few things have such a low price elasticity, and the fact that this is drug for treating cancer is the reason why that happens. Anyone that can purchase a drug that will keep you alive, will do so as long as you have enough money to do so. Another good with a very low price elasticity, but not 0, is gasoline with a 0.02 to 0.04, and gasoline is a basic necessity also.
The curve for a perfectly inelastic good is vertical. So any increase in taxes will be paid by the customers.
Answer: Please see the required journals below:
Mar. 17:
Debit Allowance for doubtful accounts $1,000
Credit Accounts receivable $1,000
July 29:
Debit Cash $1,000
Credit Bad debt recovery (income statement) $1,000
Explanation: On March 17, when $275 was received from Shawn and the remaining balance of $1,000 was written off, the allowance for doubtful accounts has to be debited since the company adopts the allowance method of accounting for uncollectible receivables. Note that the allowance account would have the required buffer to take care of this debit. Similarly, when the recovery was made, cash would be debited then the credit would default to income statement.
