Answer: Option (c) is correct.
Explanation:
Correct option: The demand facing the firm is downward-sloping because it is the market demand.
In a monopoly market conditions, there is a single seller in the market and the monopolist firm is price setter. But the demand curve faced by the monopoly firm is downward sloping because monopolist is a single firm who is operating in the market and there is a need to reduce prices if he wants to sell an additional units.
The correct answer is B) Right to share in company profits prior to other shareholders
Answer:
$196,000
Explanation:
The question is to prepare the balance sheet of Bowler Corporation as at the end of 2021.
Balance Sheet is generally divided into Assets side (Non-Current and current) Liabilities (non-current and current) and the Stockholders equity. A good balance sheet should be as follows Asset= Liabilities + Equity
Bowler Corporation Balance Sheet as at 2021
Particulars Amount($) Amount($)
Non-Current Assets
Equipment 210,000
Less: Depreciation <u> (78,000) </u> 132,000
Current Assets
Cash 9,500
Accounts receivable 19,500
Inventory <u>35,000</u>
Total Current Assets <u>64,000</u>
Total Assets 196,000
Liabilities and Equity
Current Liabilities
Accounts Payable 75,000
Salaries payable <u> 31,000</u>
Total liabilities 106,000
Equity
Common Stock 69,000
Retained earnings <u> 21,000</u>
Total stockholders' equity <u> 90,000</u>
Total Liabilities and Equity 196,000
Answer: PRODUCT DIFFERENTIATION
Explanation:
This is a marketing strategy that some companies employ whereby they aim to distinguish their products from that of competitors by giving it certain features that expound on its strength in the market.
This strategy can create a competitive advantage for goods that will ensure that the company maintains a dominant place in the market.
Answer:
A- Gill, a credit customer
Explanation:
A journal entry involves the process of keeping the records of business transactions made by an organization.
Journal entries are mainly used by bookkeepers and accountants. Ideally, it is important that a journal has all of following informations; date, reference number, debit balance, credit balance and transaction description.
A sales ledger can be defined as an accounting book that comprises of the individual account of each customer of a business firm and records the money received for goods or services purchased, whether the payment has been received or not.
Simply stated, a sales ledger sequentially records all sales that have taken place in a business, whether or not payment have been received.
This ultimately implies that, a sales ledger contains accounting information on all sales transaction made by a company including, money received for its goods and services and money owed by its customers.
Hence, the account which will appear in the sales ledger is that of Gill, a credit customer.
