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lesya692 [45]
3 years ago
7

A product enters the maturity phase of the life cycle, during which sales are

Business
1 answer:
cluponka [151]3 years ago
6 0

Answer:

A. Trying to improve the product's performance

Explanation:

A product at the maturity stage is well known to customers. It has its market share, but sales seem to grow at a sluggish pace. To keep the products' market vibrant, manufacturers tend to make positive variations on the product. Some of the variations include redesigning the package, adding new flavor, or improving its performance.

Improving the product's performance is a good way to maintain sales and increase the growth rate. Existing customers will have a reason to continue buying the product. The improved features attract new customers also.

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​Ronald, Ross, and Carol opened a partnership firm. Ronald has a capital of​ $77,000; Ross has a capital of​ $119,000; and Carol
gtnhenbr [62]

Answer:

A. Carol, Capital is debited for $4,500

Explanation:

The question says to determine amount to be included in the journal entry to record Ronald's withdrawal from the partnership

Assumption: Equal Profit- loss sharing is the agreement between the existing partners.

First premise: Ronald's Capital in the Partnership = $77,000

However, Ronald received a payment of $86,000 meaning that there is an excess of $86,000-$77,000= $9,000

Since the agreement is equal profit and loss sharing, it means each of Ross and Carol will contribute 1/2 of the $9,000.

The journal entry to record this transaction is as follows:

Particulars                                          Debit                     Credit

Carol Capital Account                      $4,500

Ross Capital Account                       $4,500

Ronald Capital Account                                                  $9,000

Being the equal contribution of excess amount paid to Ronald on exit from the partnership by Carol and Ross.

Based on the multiple choices, the correct answer is Carol, Capital is debited for $4,500

4 0
3 years ago
Which professional helps individuals and families minimize risk? A. real estate broker B. insurance agent C. personal finance ma
Aleks04 [339]
B. Insurance agent.......
4 0
3 years ago
Read 2 more answers
A.
Elena L [17]
B. Tell your boss they are great
6 0
3 years ago
Read 2 more answers
A business plan should generally project financial and operational aspects of the proposed business for the first six months. on
djyliett [7]
The right answer for the question that is being asked and shown above is that: "first six months. "<span>A business plan should generally project financial and operational aspects of the proposed business for the first six months.</span>
6 0
3 years ago
Shannon Corporation manufactures custom cabinets for kitchens. It uses a normal costing system with two direct cost categories:
adelina 88 [10]

Answer:

please find the answers below

Explanation:

Shannon corporation:

The inventory cycle of is composed of 3 phases:

1. Ordering / purchases

2. Production

3. Finished good / sales

The ordering phase is when the company orders goods and the time it takes to receive the raw materials.

The production phase is the work in process phase when the raw materials are converted into finished goods.

The finished goods/ sales phase is the time it takes to sell the goods that were manufactured.

Journal entries in a manufacturing company are used to record transactions. Adjusting journal entries are used to recognize costs and revenues in the correct period.  

Dr Work – In - process                            $75, 000

Cr Inventory- Direct materials                                   $$75, 000

Recording actual direct materials used

Dr Wages Payroll                           $55, 500

Cr Cash /Bank                                            $55, 500

Recording direct labor wages incurred

Dr Manufacturing overhead          $3, 500

Cr Inventory- Indirect materials                  $3, 500

Recording the cost of indirect materials incurred

Dr Manufacturing overhead         $49, 000

Cr Cash/ Bank                                    $49, 000

Recording wages payable to supervisor and engineer

Dr Manufacturing overhead         $13, 000

Cr Cash/ Bank                                                 $13, 000

Plant utilities and repairs taken to manufacturing overhead

Dr Manufacturing overhead                $11, 000

Cr Accumulated depreciation – plant                 $11, 000

Record depreciation on factory plant

Dr Finished goods                                $190, 000

Cr Work – In – Process                                            $190, 000

Record of jobs completed (cost of goods manufactured)

Dr Work – in – process                       $76, 500

Cr Manufacturing overhead                                   $76, 500

Record overhead applied to production

[$3, 500 + $49, 000 + $13, 000 + $11, 000 = $76, 500]

Dr Cost of goods sold                         $145, 000

Cr finished goods                                                        $145, 000

Record cost of jobs or goods completed and sold

8 0
3 years ago
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