What is marketing myopia? What is short term and long term implications for business in this situation?

1/1/2019 sally miller purchased $500 of merchandise on account; the cost of the item is $310

timofeeve [1]

<u>Solution and Explanation:</u>

date Particulars Debit Credit

1st january, 2019 Account receivable 500

Sales revenue 500

(To record sales on account)

Cost of goods sold 310

Merchandise inventory 310

(To record cost of goods sold)

31st january, 2019 Notes receivable 500

Accounts receivable 500

(To record notes receivable for the 60 days at the rate of 6 percent)

1st April, 2019 Allowances for Doubtfull accounts 500

Notes receivable 500

(In order to write off Sally Millers account, no interest revenue is to be recognised)

2nd May, 2019 Notes receivable 500

Allowances for doubtful debts 500

( in order to record re-instatement)

2nd May, 2019 Cash 507.50

Notes receivable 500

Interest revenue 7.5

( In order to record the payment received)

3 0

3 years ago

Bigham Corporation, an accrual basis calendar year taxpayer, sells its services under 12-month and 24-month contracts. The corpo

Gnesinka [82]

Answer: 2016= $13,000; 2017= $25,000

Explanation:

for 2016

Income to be recognised in 2016 for 12 months term= Total proceeds x period of service provided (july -december )/ Total contract term

Income to be recognised in 2016= 14,000 x 6months /12months

= 14,000 x 1/2= $7,000

Income to be recognised in 2016 for 24 months term= Total proceeds x period of service provided (july -december )/ Total contract term

Income to be recognised in 2016= 24,000 x 6months /24months

= 24,000 x 1/4= $6,000

income to be recognized in taxable income in 2016= $7,000 + $6,000= $13,000

for 2017

Income to be recognised in 2017 for 12 months contract term= Total proceeds x remaining period of service provided from jan. to june 2017 / Total contract term

Income to be recognised in 2017= 14,000 x 6months /12months

= 14,000 x 1/2= $7,000

Income to be recognised in 2017 for 24 months contract term= Total proceeds x remaining period of service provided fromjuly 2016 -dec 2017/ Total contract term

Income to be recognised in 2016= 24,000 x (24-6) 18months /24months

= 24,000 x 3/4= $18,000

income to be recognized in taxable income in 2017= $7,000 + $18,000= $25,000

7 0

3 years ago

Because of uncertainty about future inflation, the union devotes a large quantity of resources to monitoring inflation indicator

IrinaVladis [17]

Answer:

C. Variable inflation is associated with high transaction costs

Explanation:

Because of uncertainty about future inflation, it may not uncertain relative to its price change. Therefore, option A is not correct.

In order to maximize financial position, inflation harms borrowers and helps lenders, so option B is also incorrect.

Option C is correct because variable inflation is associated with high transaction costs in order to maximize the financial position. For example, if the inflation rate is 5% during first quarter, the price level is not much to disrupt the financial position. Again, in the next quarter, if the inflation rate changes to 4%, the position will be effective more. However, if it increases, it will not affect too much.

7 0

3 years ago

Here's the revenue and expenses for the month. Calculate whether Mia had a profit or loss.

kherson [118]

Answer:

Loss

Explanation:

Because she started with 860.00 then ended with 300

4 0

3 years ago

A company wants to hire a model to appear in a television ad to promote its products. Prospective candidates have been asked to

Lyrx [107]

Answer:

Performance.

Explanation:

A company wants to hire a model to appear in a television ad to promote its products. Prospective candidates have been asked to audition so that the company can choose the most suitable person. The candidates are being subjected to performance test. Prospective candidate's acting abilities, personality will be judged and analysed accordingly. They will given a written script which they have to read and acted as well. Their acting, voice quality, body movements and personalty will be looked upon and analysed whether he or she is the best fit for their television ad or not.

8 0

3 years ago