The first step when considering a career is to assess yourself.
Answer:
Savings in fixed costs= 30,800
Explanation:
Giving the following information:
Prockets Inc. just eliminated a product that had yearly sales of $120,000, yearly variable expenses of $48,000, and yearly fixed expenses of $92,000. By dropping the product, Sprockets increased its company-wide yearly net income by $10,800.
Loss= 120,000 - 48,000 - 92,000= -20,000
By dropping the product:
Savings in fixed costs= 20,000 + 10,800= 30,800
Answer:
The winners were tire exporters from nations other than China, since the price of tires from these nations rose from $53.94 to $62.02, and this rise was not due to tariffs.
The losers were Chinese tire exporters, because while the price of Chinese tires also rose, it was because of the tariff, which is not income received by the exportes. Besides, the volume of imports from China also fell.
By deciding what markets should the firm compete in, the Gordon's Consultants devised corporate strategy.
<h3>What is a corporate strategy?</h3>
A strategy, which is a part of functioning of a business organization and involves highly efficient decision-making for the purpose of achieving its organizational goals, is known as a corporate strategy.
Hence, the significance of corporate strategy is aforementioned.
Learn more about corporate strategy here:
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Answer:
a.
July 1
Accounts Receivable 23000 Dr
Sales Revenue 23000 Cr
b.
July 8
Sales Return 2400 Dr
Accounts Receivable 2400 Cr
c.
July 11
Cash 20600 Dr
Accounts Receivable 20600 Cr
Explanation:
a.
The sales made on credit are recorded as a debit to the accounts receivable and a credit to sales revenue by the amount of sales assuming we use the gross method to record sale.
b.
The return of sales is recorded as a debit to the sales return account and a credit to the accounts receivable to reduce the amount due from accounts receivable.
c.
The remaining accounts receivable amount after sales return amounted to 23000 - 2400 = 20600
The sales terms were 2/10 which means a 2% discount was allowed if the accounts receivable pay within 10 days of sale. The payment is received after the discount period. Thus, we will not deduct the discount allowed and accounts receivable will pay fill $20600.
