Answer:
Journal entries for the transactions are given below
Explanation:
1. Development of new product
DEBIT CREDIT
Research and development $24,000
Cash $24,000
2. Paid the plaintiff for losing patent
DEBIT CREDIT
Legal fee (expense) $8,000
Cash $8,000
3. Bought Equipment and signed non-interest bearing note
DEBIT CREDIT
Equipment Cash price $37,000
Discount on note payable $5,000
Cash paid $18,000
Note payable $24,000
4. Installed sprinkler system
DEBIT CREDIT
Sprinkler system $40,000
Cash $40,000
5. Plaintiff paid for successful infringement suit on its patent
DEBIT CREDIT
Patent $24,000
Cash $24,000
6. Bought New equipment and traded old one
DEBIT CREDIT
New Equipment $13,600
Accumulated depreciation $6,800
Loss on sale $3,400
Old Equipment $13,400
Cash $10,400
Working:
Accumulated depreciation = Original Cost - book value
Accumulated depreciation = $13,400 - $6,600
Accumulated depreciation = $6,800
False. Loss leaders are products that are sold at or below cost in order to lure you into the store.
Answer:
There is a financial disadvantage of ($30,000).
Explanation:
The discontinuity of product X would result in the contribution lost.
Sales that would be lost = $40 × 10,000 units = $400,000
Relevant variable cost with the production of product X that would be saved = $32 × 10,000 units = $320,000
Contribution lost = Sales lost - Variable cost saved
Contribution lost = $400,000 - $320,000
Contribution lost = $80,000
Saving in fixed costs = $120,000 - $70,000 (this would not be incurred) = $50,000
However, still contribution lost is more than the saving in fixed costs
Therefore, the financial disadvantage = $80,000 - $50,000 = ($30,000)
Answer:
B) she was very calm under pressure
Explanation:
A project manager is a designation in which the management and the responsibility of the entire project lie in the hands of an individual. The responsibilities of planning, running and the execution of the project is undertaken by the project manager.
From the given options, the soft skill of keeping very calm under pressure will be the most relevant for Rachel. All the other three options are the skills relevant for a specific proficiency in the technical field. To be a project manager, calmness, and efficiency to work under pressure is required.
Answer:
Market
Explanation:
Producer surplus is the difference between the market price and the minimum price at which a producer would be willing to sell a particular quantity.
Producer surplus is known to be the total amount that a producer benefits or gains from producing and selling a quantity of a good at the market price. The total revenue that a producer receives from selling their goods minus the total cost of production equals the producer surplus.
