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3 years ago

thinking strategically about industry and competitive conditions in a given industry involves evaluating such considerations as

Business

1 answer:

oksian1 [2.3K]3 years ago

7 0

Answer:

E. how often sellers alter their prices, how sensitive buyers are to price differences among sellers, whether the item being purchased is a good or a service, and whether buyers buy frequently or infrequently.

Explanation:

Options are "A. cultural, lifestyle, and demographic changes, B. the birth of new industries, new knowledge, and disruptive technologies, C. weather, climate change, and water shortages, D. interest rates, exchange rates, unemployment rates, inflation rates, and economic growth, E. how often sellers alter their prices, how sensitive buyers are to price differences among sellers, whether the item being purchased is a good or a service, and whether buyers buy frequently or infrequently."

Thinking strategically about industry and competitive conditions in a given industry involves evaluating such considerations as how often sellers alter their prices, how sensitive buyers are to price differences among sellers, whether the item being purchased is a good or a service, and whether buyers buy frequently or infrequently.

The strategy decision making about the industry and competitive conditions involve evaluating the prices, buyer sensitivity to the prices, serviceability & frequency.

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For each separate case below, follow the three-step process for adjusting the unearned revenue liability account at December 31

Vadim26 [7]

Answer:

1. Assume no other adjusting entries are made during the year a. Tao Co. receives $10,000 cash in advance for four months of legal services on October 1, 2017, and records it by debiting Cash and crediting Unearned Revenue both for $10,000. It is now December 31, 2017, and Tao has provided legal services as planned. hat adjusting entry should Tao make to account for the work performed from October 1 through December 31, 2017?

Step 1: Unearned Revenue has a credit balance of $10,000

Step 2: Unearned Revenue should have a credit balance of $2,500 only.

Step 3: Adjusting Journal Entry:

Debit Unearned Revenue $7,500

Credit Service Revenue $7,500

To record revenue for services performed to December 31, 2017.

2. Caden started a new publication called Contest News. Its sub subscriber, Caden debits Cash and credits Unearned Subscription Revenue for the amounts received. The company has 100 new subscribers as of July 1, 2017. It sends Contest News to each of these subscribers every month from July through December Assume no changes in subscribers, prepare the journal entry that Caden must make as of December 31, 2017, to adjust the Subscription Revenue account and the Unearned Subscription Revenue account pay $24 to receive 12 monthly issues.

Step 1: Unearned Subscription Revenue has a credit balance of $2,400

Step 2: Unearned Subscription Revenue should have a credit balance of only $1,200.

Step 3: Adjusting Journal Entry:

Debit Unearned Subscription Revenue $1,200

Credit Subscription Revenue $1,200

To record subscription revenue for services performed to December 31, 2017.

Explanation:

Tao Co and Caden follow the three-step process of adjusting unearned revenue liability accounts at year-end. The purpose of the steps is to ensure that correct amounts remain as balances in the unearned revenue accounts. The steps also help to adjust the Earned Revenue account to its proper amount in recognition of goods or services provided in accordance with the accrual concept and the matching principle of generally accepted accounting principles.

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3 years ago

The following items are taken from the financial statements of the Postal Service for the year ending December 31, 2015: Account

Nuetrik [128]

Answer:

Postal Service

The amount that would be reported for Stockholders' Equity at December 31, 2015 is:

= $130,000.

Explanation:

a) Trial Balance

December 31, 2015:

Cash $15,000

Accounts receivable 11,000

Supplies 4,000

Prepaid insurance (12-month) 6,000

Equipment 210,000

Accounts payable $ 18,000

Accumulated depreciation – equipment 28,000

Note payable, due 6/30/16 70,000

Common stock 42,000

Retained earnings (1/1/15) 60,000

Dividends 14,000

Service revenue 133,000

Advertising expense 21,000

Depreciation expense 12,000

Insurance expense 3,000

Rent expense 17,000

Salaries and wages expense 32,000

Supplies expense 6,000

Totals $351,000 $351,000

Income Statement for the year ended December 31, 2015

Service revenue $133,000

Advertising expense 21,000

Depreciation expense 12,000

Insurance expense 3,000

Rent expense 17,000

Salaries and wages expense 32,000

Supplies expense 6,000 $91,000

Net income $42,000

Statement of Retained Earnings

For the year ended December 31, 2015

Retained earnings (1/1/15) $60,000

Net income 42,000

Dividends (14,000)

Retained earnings (December 31, 2015) $88,000

Equity:

Common stock $42,000

Retained earnings 88,000

Total equity $130,000

4 0

3 years ago

At December 31, Gill Co. reported accounts receivable of $238,000 and an allowance for uncollectible accounts of $600 (credit) b

meriva

Answer:

$6,540

Explanation:

Given:

accounts receivable of $238,000

allowance for uncollectable accounts of $600 (credit)

Also, the allowance for uncollectible accounts should be 3% of accounts receivable.

Therefore the amount of the adjustment for uncollectible accounts would be

= 3% of $238,000 - $600= $(7140-600)= $6,540

4 0

3 years ago

nata0808 [166]

Answer:

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2 years ago

A ____________ is generally priced at a flat rate and allows software to be used on all computers at a specific location.

Elena-2011 [213]

The answer to this question is a site license. A site license is a type of software license where in the user is allowed to install a software to a several number of computers and use the software in a particular / specific site through a network. The software licensing is another term used for site license.

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3 years ago