Answer:
1.March 1
Dr Cash 7,500
Cr Unearned Revenue 7,500
2.July 31
Dr Unearned Revenue 7,500
C Design Services Revenue 7,500
Explanation:
1.Preparation of journal entry for March 1 journal entry
Based on the information given we were told that the designer receives the amount of $7,500 as a check in advance from a customer which means that the journal entry will be:
Dr Cash 7,500
Cr Unearned Revenue 7,500
2.Preparation of the July 31 journal entry.
Based on the information given we were told that the designer completed the design work for this customer which means that the journal entry will be:
July 31
Dr Unearned Revenue 7,500
C Design Services Revenue 7,500
Explanation:
<u>Penetration Pricing:
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It is the marketing approach that consists of a strategy to insert a new product in the market offering lower prices.
This strategy would help a new company, for example, to enter the market and already achieve good demand for its products and services, in addition to this strategy being a barrier of entry for new competitors.
Penetration pricing is the most appropriate marketing strategy for companies that need to reach a market place and reach a large number of people, which is achieved when offering a product with quality and benefits that can create consumer needs for customers, which makes it possible for the company to fulfill its objective and then be able to establish itself in the market and then increase prices so that the demand for the products is maintained.
This strategy is generally used by retailers and organizations that offer products offered in bulk, such as food, cosmetics, automobiles, etc.
Answer:
a. The demand curve facing a monopolistic competitor in a market where all producers charge different prices becomes less elastic when it engages in international trade - Disagree
This statement is not true. If a monopolistic competitor engages in international trade, it will meet more competition, meaning that the audience (demand) that it has is more sensitive to prices, because they have more options available.
b. According to the gravity equation, countries closer to each other trade more - Agree
The gravity equation tells us that the volume of international trade is correlated with geographical proximity and economic size. That is to say, the closer and larger two economies are, the more international trade they engage with each other.
c. The only gain from trade in monopolistic competition in trade is lower prices - Disagree
Gains are the most important in lower prices, but there are also gains in competitiveness and quality.
d. The closer to 1 the index of intra industry trade is, the greater the difference between exports and imports of the same goods. - Disagree
An index of intra industry trade of 1 indicates that the country imports and exports roughly the same amount for a particular type of goods (the goods that belong to that industry). Hence, the statement is not true.
Answer:
d.$5,000
Explanation:
In order to find the maximum amount of possible expansion in the money supply we will have to find the money multiplier. The formula for the money multiplier is
1/reserve ration =1/0.2=5
Now that we know that the multiplier is 5 we will multiply is by 1000 which is the initial deposit, to get the total possible expansion in the money supply, 1000*5= 5000
This question seems incomplete. Here is the detailed and complete question:
A work-mode-choice model is developed from data acquired in the field in order to determine the probabilities of individual travelers selecting various modes. the mode choices include automobile drive-alone (dl), automobile shared-ride (sr), and bus (b). the utility functions are estimated as follows: udl = 2.6 - 0.3(costdl) - 0.02(travel timedl) usr = 0.7 - 0.3(costsr) - 0.04(travel timesr) ub = -0.3(costb) - 0.01(travel timeb) where cost is in dollars and time is in minutes. the cost of driving an automobile is $5.50 with a travel time of 21 minutes, while the bus fare is $1.25 with a travel time of 27 minutes. how many people will use the shared-ride mode from a community of 4500 workers, assuming the shared-ride option always consists of three individuals sharing costs equally?
Answer: 828 workers will use the shared - ride mode.
Explanation: You can see the attached for a more detailed explanation.
