Answer:
One Of Jenna's Chief Responsibilities Is To Travel With A Team Of 5 People To International Locations To Try To Find Potential Sets For Films. Jenna Also Has A Legal Background And Previous Experience Working As An ... Jenna has been working at Firenzi Entertainment Group for the past 3 years as a location scout.
Aster Inc. has developed a new digital three-tier food steamer. Though the product comes with a self-explanatory manual, the controls and the operation of the appliance have to be explained to the customer on a one-to-one basis, in great detail. Which of the following elements of the promotional mix is Aster most likely to rely on to sell its products?
a. Advertising
b. Sales promotion
c. Public relations
d. Personal selling
Answer:
d. Personal selling
Explanation:
Personal selling would be the one of the component of the promotional mix where the person interact with the customers from face to face and explains the product with respect to its features, price, benefits, etc also at the same time customer could solve their doubts related to the product
So as per the given situation, the option d is correct
Management of Wee Ones (WO), an operator of day-care facilities, wants the company's profit to be subdivided by center. The firm's accountant has provided the following data: Center Budgeted Revenue Actual Revenue Budgeted Direct Costs Actual Direct Costs Downtown $ 320,000 $ 340,200 $ 300,000 $ 300,000 Irvine 560,000 534,600 510,000 440,000 H. Beach 720,000 745,200 690,000 740,000 Totals $ 1,600,000 $ 1,620,000 $ 1,500,000 $ 1,480,000 WO's advertising, which is handled by the home office, is not reflected in the preceding figures and amounted to $60,000. Assume that management used the allocation base that is most influenced by advertising effort and consistent with sound managerial accounting practices. How much advertising would be allocated to the Irvine center
Answer: $19,800
Explanation:
Actual Revenue would be the most appropriate base to use because it is the most influenced by advertising effort and sound managerial practices.
Total actual revenue from all centers is $1,620,000.
Actual revenue for Irvine center is $534,600.
Advertising expenses to Irvine would be:
= Advertising cost * Actual revenue for Irvine / Total actual revenue for all centers
= 60,000 * 534,600 / 1,620,000
= $19,800
gooQS 8-1 Cost of plant assets LO C1 Kegler Bowling buys scorekeeping equipment with an invoice cost of $160,000. The electrical work required for the installation costs $16,800. Additional costs are $3,360 for delivery and $11,530 for sales tax. During the installation, the equipment was damaged and the cost of repair was $1,550. What is the total recorded cost of the scorekeeping equipment
Answer:
$180,160
Explanation:
Calculation of Cost of scorekeeping equipment
Purchase Price $160,000
Installation Cost $16,800
Delivery Cost $3,360
Total Cost $180,160
Note Sales Tax and Costs incurred subsequently after asset is put to use is excluded from Cost of Asset.
Therefore,
the total recorded cost of the scorekeeping equipment is $180,160.
A firm has production function y = f(x1, x2) = x 1^1/3 x 2 ^2/3 , where y is the amount of output, x1, x2 are the amount of input 1 and 2 respectively.
(a) Suppose the firms chooses to produce with inputs x1^0 , x2^0 . Calculate the marginal product with respect to input 1 and input 2. (Express them in terms of x1^0 , x2^0 .)
(b) What’s the firm’s technical rate of substitution given input level x1^0 , x2^0 ?
(c) Suppose the prices for input 1 and input 2 are are respectively w1 = 8, w2 = 2. The market price for the output is p = 50. In order to produce a fixed level of output y 0 = 8, what’s the optimal amount of each input that the firm chooses to use for production?
Answer: B
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Danks Corporation purchased a patent for $405,000 on September 1, 2019. It had a useful life of 10 years. On January 1, 2021, Danks spent $99,000 to successfully defend the patent in a lawsuit. Danks feels that as of that date, the remaining useful life is 5 years. What amount should be reported for patent amortization expense for 2021?
Answer:
Amortization Expense for year 2021 $90,000
Explanation:
The computation of the amount that should be reported for patent amortization for the year 2021 is shown below:
But before that following calculations need to be done
The value of the patent as of 31st Dec, 2020
Purchase Value as of Sep 1,2019 $405000
Less:- Amortization Expense for the year 2019 $13,500
($405000 ÷ 10 × 4 ÷ 12)
Less:- amortization expense for the year 2020 $40500 ($405,000 ÷ 10)
Value of patent as on 1st Jan, 2021 $351,000
Add:- fees to defend $99000
New Book Value for the year 2021 $450,000
Now Remaining Useful Life 5 years
So,
Amortization Expense for year 2021 $90,000 ($450,000 ÷ 5)
Corona Industries purchased a stamping machine on January 2, 20X1, for $100,000. It made an initial payment of $20,000 and financed the balance over 5 years at State Bank. The loan terms were for annual payments of $16,000 plus 10% interest, payable on December 31 each year. The year 20X4 proves to be a difficult year and on December 1, 20X4 Corona negotiates a debt restructuring with State Bank. The settlement calls for cash payment of accrued interest plus $4,000 on December 1 and the transfer of 200 acres of land held by Corona that cost $15,000. The land has a current fair value of $22,000. Which one of the following entries will Corona make to adjust for the land just prior to transfer?
a. DR Loss on disposal of asset $7,000 CR Land $7,000
b. DR Land $7,000 CR Gain on disposal of asset $7,000
c. DR Note payable—State Bank $7,000 CR Gain on disposal of asset $7,000
d. DR Land $7,000 CR Note payable—State Bank $7,000
Answer:
(a) DR Loss on disposal of asset $7,000 CR Land $7,000
The correct option is A). DR Loss on disposal of asset $7,000 and CR Land $7,000
What is journal entry? What are the debit and credit?A journal entry is the process of recording a business transaction in the accounting records of a business.
Debits are always on the left side of the entry, which shows an increase in assets or decrease in liabilities.
Credits are always on the right side, which depicts that there is a decrease in assets or an increase in liabilities.
Learn more about the journal entry here:-
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