Answer:
An organization's product mix relates to the development of its product line when the organization has products which can be grouped together in distribution, marketing etc.
Also, an enterprise should add depth to its product line than adding width to the product mix when the company is not looking to add the whole product line.
Explanation:
A product line is a group of products that are related and marketed under a single brand name sold by the same firm. Firms sell several product lines under their brand names, seeking to differentiate them from each other for consumer's better usability.
Product mix refers to the total amount of product lines that a company offers to its customers. A company may sell multiple product lines. Your product lines may be similar like bar soap and dish washing liquid, which are used for cleaning or the product lines may be different like razors and diapers.
An organization's product mix relates to the development of its product line when the organization has products which can be grouped together in distribution, marketing etc.
An enterprise should add depth to its product line than adding width to the product mix when the company is not looking to add the whole product line. Since the enterprise is not seeking to add the entire product line, this can be used.
Answer:
The Journal entry is as follows:
Bad Debt Expense A/c Dr. $15,218
To allowance for doubtful accounts $15,218
(To record the bad debt expense in 2017)
Working notes:
Bad Debt Expense in 2017:
= (Sales revenue - allowances) × 2%
= ($801,000 - $40,100) × 2%
= $760,900 × 0.02
= $15,218
Answer:
1. The Journal Entry
Sr. No Particulars Debit Credit
Tractor- Machinery $ 45000
Cash $6000
Notes Payable $ 39,000
The journal entry to record the acquisition of the tractor.
Working : Interest Expense Payable:
11% of 39,000= $ 4290
<u>2. Income Statement of 2021</u>
Revenues xxxxx
Less
Depreciation xxxxx
Interest Expense 4290
<u>Profit xxxx</u>
<u />
<u>2. Income Statement of 2022</u>
Revenues xxxxx
Less
Depreciation xxxxx
Interest Expense 4290
<u>Profit xxxx</u>
<u>3. Balance Sheet of 2021</u>
Debit Side
Truck $45000
<u>Less Depreciation xxxxx</u>
Credit Side
<u>Interest Payable 4290</u>
<u>3. Balance Sheet of 2022</u>
Debit Side
Truck $45000
<u>Less Depreciation xxxxx</u>
Credit Side
<u>Interest Payable 4290</u>
Answer:
The correct answer is B
Explanation:
Money is the term which is defined or described as any good which is used widely as well as accepted in the transactions comprising the transfer of goods as well as services from oner person to another.
The money could be differentiated among three kinds which are as: bank, commodity money and fiat money.
So, the money is states as anything which is used regularly as well as accepted generally in the economic exchanges or transactions.