It means to differentiate their product. Monopolistic competition is a sort of blemished rivalry with the end goal that numerous makers offer items that are separated from each other and subsequently are not impeccable substitutes.
Harmony under monopolistic competition. In the short run, supernormal benefits are conceivable, however, over the long haul, new firms are pulled in into the business, as a result of low boundaries to the passage, great learning and a chance to separate.
Answer:
All workings are attached in the attachment for your convenience.
Explanation:
Answer:
The journal entry to be recorded by Jervis on June 28 is shown below:
Explanation:
The journal entry to be recorded by Jervis on June 28 is as:
On June 28
Cash A/c......................................Dr $5,539
Credit Card expense A/c........Dr $ 261
Sales A/c............................Cr $5,800
Being record the deposit of amount on Sales by Jervis
As the amount is deposited on sale which means cash is coming into the bank, and any increase in cash is debited. So, the cash account is debited. And on the amount expense is charges, the charge is also debited. Therefore, the credit card expense is debited. And the sales is made, so, the sales account is credited.
Working Note:
Credit card expense = Sales amount × Charge
= $5,800 × 4.5%
= $261
Answer:
1. Book keeper: Carol, an employee of Fresh Café, documents all of its monetary transactions
2. Shareholder: Kyle purchased $1,500 of stock in Computers 'R Us
3. Auditor: B. Kim, an outside contractor, objectively analyzes Flip's Clothing Boutique's accounting processes and data
4. Controller: Charlie oversees all of Groove Market's financial reporting and accounting
Explanation:
1. A bookkeeper oversees a company’s financial data by maintaining books on accurate information such as payroll, accounts receivables, accounts payables and any other financial transactions and reconciliation.
2. A shareholder, also known as a stockholder is a person or other entity who owns at-least one share of a company’s stock or equity.
3. In auditor is a person who is responsible for evaluating the accuracy and reliability of a company’s financial statements. Auditors can be internal or external. Internal auditors are those who audit the financial statements of the company they exist in and external auditors are those from outside audit firms who are hired to evaluate another company’s financial information.
4. A controller in an individual who has responsibility for all accounts-related activities including financial, managerial and high level accounting.
