The retaliating gas station has employed a<u> grim trigger</u> strategy.
<h3>What is grim trigger strategy?</h3>
Grim trigger strategy can be defined as the way in which a two parties or two people enter into an agreement in which because one of them decide to defect from the agreement and the second person as well defect from the agreement.
Based on the scenario we can say that the retaliating gas station has employed a grim trigger strategy.
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The effect on General Ledger with the creation of the new inventory item "Birdbath" on March 15, when beginning inventory of 25 units at a cost per unit of $23.82 recorded by Erin, is the overstatement of the Ending Inventory by $595.50.
Data and Calculations:
Date Description Units Unit Cost Total Cost
March 15 Beginning Inventory 25 bags $23.82 $595.50
April 20 Purchase 80 bags $8.00 $640.00
June 12 Purchase 75 bags $8.25 $618.75
June 15 Sale 125 bags
Ending inventory in units (correct balance) = 30 bags (155 - 125)
Ending inventory in units (per records) = 55 bags
Thus, the overstatement of the Ending Inventory by $595.50 makes the General Ledger balances to disagree.
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A)
First meeting
Employees: Entire marketing team
Possible topic: How to market a new service that the company provides
Second meeting
Employees: Marketing team and customer service team
Possible topic: How to improve customer satisfaction
B) She should make sure that the individuals are willing to learn new things and work well in teams because employees will have to work with others who are very different than them.
To motivate her team, she should give positive feedback, allow employees to make their own decisions, and create challenging (but realistic goals)
As the basis for everything about finnancial issues, the statement above is TRUE. These means are the basis to achieve your goals to save money and keep your budget safe. Hope this is good for you
Answer and Explanation:
a. The journal entries are shown below
Cost of goods sold ($354,700 - $331,550) $23,150
To Allowance for reduction in inventory to NRV $23,150
(Being allowance for reduction is recorded)
Allowance for reduction in inventory to NRV ($23,150 - ($413,510 - $394,540)) $4,180
To Cost of good sold $4,180
(being recording of the previous loss)
These two entries should be recorded at LCNRV method