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3 years ago

PLZ HELP FOR A TEST!!

Business

2 answers:

vagabundo [1.1K]3 years ago

7 0

Answer:

Monopoly

Explanation:

I took the test

Romashka [77]3 years ago

6 0

Answer:

monopoly

Explanation:

In a monopoly market, a single firm sells a product with no close substitutes in a large market. It means that the single firm has no business competitors in the market. Without competition, the firm has the power to set prices, quality, and quantity without worrying about how customers will react.

In a monopoly market, customers have no choice since competition is absent. Customers have to do with high prices, limited varieties, and limited innovation, unlike in market structures that have business competition. Competition results in increased innovation, quality products, and a variety of products at fair prices.

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Riverbed Company sells goods that cost $320,000 to Ricard Company for $407,000 on January 2, 2020. The sales price includes an i

Alecsey [184]

Answer:

a) Journal entries to record the sale on January 2, 2020:

Debit Accounts Receivable with $407,000

Credit Sales Account with $368,500

Credit Deferred Revenue (Installation Fee) with $38,500

Being sales of goods and installation services.

b) Income Statement for 1st Quarter of 2020

Sales - $368,500

Installation Fee - $19,250

Total Income - $387,750

less cost of sales - $320,000

Net Income - $67,750

c) The revenue Shaw should recognize in relation to the sale to Ricard is $387,750 (goods and accrued installation fee). The installation fee to be recognized is for 3 months only.

Explanation:

The installation fee is for 6 months. Therefore, 3 months' worth of fee will be recognized in the income statement ending on March 31, 2020.

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3 years ago

I WILL GIVE BRAINLIEST, 5 STARS, AND A THANKS IF YOU HELP ME PLEASE!!!!!

siniylev [52]

Answer:

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2 years ago

Gwen inherited 100 shares of supershoes stock when her mother died on october 21, 2015; the fair market value of the stock was $

Dafna1 [17]

Answer: Gwen should report a $3,000 long-term capital gain in her income tax return.

In this question the price paid by Gwen’s mother for the shares is irrelevant because of her death.

The stock’s fair market value ($20) when Gwen inherited the shares (21st October 2015) is Gwen stepped up value.

Gwen’s gain from selling the shares is:

$Gain / (Loss) = (Selling Price per share - Stepped up value per share) * Number of shares$

$Gain = (50 - 20) *100$

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3 years ago

What factor is usually agreed upon prior to the submission of a purchase order?

tester [92]

Answer:

number of products to be purchased

Explanation:

A purchase order is prepared by a customer and addressed to a trader. The document instructs the trader to supply the customer with the goods stated in the purchase order document.

Before a customer writes the purchase order, an agreement is made on the quantity to be ordered. The trader has to confirm that they have the required quantity in the stores, or it will be availed within a reasonable time.

The price is agreed at the quotation stage. The customer first sends an inquiry, which the customer responds to with a quotation.

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3 years ago

Identify whether each of the following would be reported as an operating, investing, or financing activity on the statement of c

anyanavicka [17]

Answer and Explanation:

The classification is as follows

A. financing activity = Cash outflow as cash is gone

B. Operating activity = Cash inflow as cash is received

C. Operating activity = Cash outflow as cash is gone

D. Financing activity = Cash outflow as cash is gone

E. Investing activity = Cash outflow as cash is gone

A. Investing activity = Cash outflow as cash is gone

B, Investing activity = Cash inflow as cash is received

C. Operating activity = Cash outflow as cash is gone

D. Operating activity = Cash inflow as cash is received

E. Operating activity = Cash inflow as cash is received

F.financing activity = Cash inflow as cash is received

8 0

3 years ago