Sheffield Corp. Closes its books on its July 31 year-end. The company does not make entries to accrue for interest except at its year-end. On June 30, the Notes Receivable account balance is $22,000. Notes Receivable include the following.
Date Maker Face Value Term Maturity Date Interest Rate
April 21 Booth Inc. $6,000 90 days July 20 8%
May 25 Manning Co. 7,800 60 days July 24 10%
June 30 ANF Corp. 10,000 6 months December 31 6%
During July, the following transactions were completed.
July 5 Made sales of $4,140 on Sheffield Corp. Credit cards.
14 Made sales of $400 on Visa credit cards. The credit card service charge is 3%.
20 Received payment in full from Coote Inc. On the amount due.
24 Received payment in full from Brady Co. On the amount due.
Required:
Journalize the July transactions and the July 31 adjusting entry for accrued interest receivable. (Interest is computed using 360 days; omit cost of goods sold entries. )
Answers
Based on the information provided, the journal entries for Sheffield Corp.'s July transactions and the July 31 adjusting entry for accrued interest receivable shall be recorded in the journal as below.
July 5:
Accounts Receivable - Sheffield Corp. Credit Cards 4,140
Sales Revenue 4,140
(To record sales made on Sheffield Corp. credit cards)
July 14:
Accounts Receivable - Visa 400
Sales Revenue 388
Service Charge Expense 12
(To record sales made on Visa credit cards and the 3% service charge)
July 20:
Cash 6,000
Notes Receivable - Booth Inc. 6,000
(To record payment received in full from Booth Inc.)
July 24:
Cash 7,800
Notes Receivable - Manning Co. 7,800
(To record payment received in full from Manning Co.)
July 31 adjusting entry for accrued interest receivable:
Booth Inc. accrued interest: $6,000 * 8% * (90/360) = $120
Manning Co. accrued interest: $7,800 * 10% * (60/360) = $130
ANF Corp. accrued interest: $10,000 * 6% * (31/360) = $51.67
Interest Receivable 301.67
Interest Revenue 301.67
(To record the accrued interest receivable for Booth Inc., Manning Co., and ANF Corp.)
These journal entries record Sheffield Corp.'s July transactions and the adjusting entry for accrued interest receivable as of July 31.
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Related Questions
Businesses offer many of the marketing functions, and consumers usually take part in _____ when they make purchases.
- at least five
- one or more
- all
- one
Answers
Answer:
one or more
Explanation:
Businesses offer many marketing functions, and consumers usually take part in one or more when they make purchases. The correct option is B.
What is the role of marketing to consumers?Marketing's goals are to interact with customers, provide information, and add value to their lives. Discovering what their customers want and need, then meeting those needs through the products and services they provide, is how businesses decide how to best market to consumers.
The aspect of marketing that is most widely recognized is promotion. The majority of audiences would be familiar with the traditional and digital marketing strategies included. Activities aimed at interacting with consumers, educating them about the company and its offerings, and persuading them to make purchases are referred to as promotional activities.
Thus, the ideal selection is option B.
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Which of the following is considered a fall prevention system because it stops a person from falling in the first place?
Select the best option.
Anchor
Guardrails
Personal fall arrest systems
Safety nets
Answers
Answer:
see the answer
Explanation:
I think it's safety nets
when controlling shareholders conduct activities that enrich the controlling shareholders at the expense of the minority shareholders, they are engaging in
Answers
When controlling shareholders conduct activities that benefit themselves at the expense of minority shareholders, they are engaging in "opportunistic behavior" or "self-dealing."
Such behavior is typically seen in companies with a concentrated ownership structure, where a small group of shareholders hold a majority of the voting power and can make decisions that disproportionately benefit themselves.
This can include transactions that transfer wealth or assets to the controlling shareholders, such as paying excessive executive compensation or dividends, engaging in related-party transactions at inflated prices, or engaging in asset-stripping or asset-transfer activities.
Such behavior can harm minority shareholders by reducing the value of their investments and undermining the company's long-term prospects.
Legal and regulatory measures can be used to protect minority shareholders from such opportunistic behavior, such as fiduciary duties for controlling shareholders, disclosure requirements, and shareholder rights and protections.
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The adjusted trial balance for Yondel Company at December 31, 2018 is presented below: Accounts Debit Credit Cash $ 8,000 Prepaid rent 23,000 Land 445,000 Accounts payable $ 12,000 Salaries payable 20,000 Common stock 230,000 Retained earnings 109,000 Dividends 14,000 Service revenue 340,000 Salaries expense 160,000 Rent expense 29,000 Utilities expense 32,000 Totals $ 711,000 $ 711,000 Prepare the closing entries for Yondel Company for the year ended December 31, 2018.
Answers
Answer:
Explanation:
Cash =8000
Prepaid rent = 23,000
Land = 445000
Accounts payable = 12,000
Salaries payable = 20,000
Retained earnings = 109,000
Dividends = 14,000
Service revenue = 340,000
Salaries expenses = 160,0000
Rent expenses = 29,000
Utilities expenses = 32,000
Net income = Service revenue - Salaries-Rent-Utilities-
=340,000-160,000-29,000-32,000 = 119,000
Journal
1. Debit Service revenue - 340,000
Credit income summary - 340,000
2, Debit Income summary - 221,000
Credit Salaries expenses 160,000
Credit Rent expenses 29,000
Credit Utilities expenses 32,000
3 Debit Income summary 119,000
Credit retained earnings 119,000
4 Debit retained earnings 14,000
Credit retained earnings 14,000
If Vito, Inc. has an inventory turnover ratio of 5 times, then its average days to sell inventory must be ______.
Answers
The average days for Vito, Inc to sell inventory must be 73 days.
What is inventory turnover ratio?Inventory turnover is the rate that inventory stock is sold, or used, and replaced. It shows many times a company has sold and replaced inventory during a given period.
Given the above information,
Average days to sell inventory = 365 days / Inventory turnover ratio
Average days to sell inventory = 365 / 5
Average days to sell inventory = 73 days
Hence, the average days for Vito, Inc to sell inventory must be 73 days.
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What is meant by moving laterally from a position in one
department to a position in another department?
Lateral moves retrain successful employees for new
positions in the private sector.
Lateral moves afford employees with a step up in
seniority and responsibility in a new department.
Lateral moves are shifts between departments and
duties without moving up on the GS schedule.
Lateral moves retrain successful employees for new
positions in the private sector to reward loyalty.
Answers
Lateral moves are shifts between departments and duties without moving up on the GS schedule.
What is departments?Departments are organizational units within a company or organization that are responsible for specific tasks or functions. They are typically divided up based on the type of work they do and the expertise required to perform it. For example, a business might have departments such as sales, marketing, finance, human resources, and operations. Each department is responsible for their own tasks and have their own staff and resources. Working together, departments collaborate to ensure the company meets its goals. Departmentalization is important for the efficient functioning of a company, and it helps ensure that each department is working towards the same larger objectives.
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What is the type of economy: traditional-free market - command or mixed. And what is the place in the business cycle: prosperity- recovery- recession or depression
Answers
Answer:
The four stages of the economic cycle are also referred to as the business cycle. These four stages are expansion, peak, contraction, and trough. During the expansion phase, the economy experiences relatively rapid growth, interest rates tend to be low, production increases, and inflationary pressures build
Simon has a $250,000 life insurance policy with City Life. He has had this policy for many years, and all of the premiums have been paid. He no longer needs to make any payments in order to keep the policy in effect. Simon named his brother, Leo, as the beneficiary of the policy. Leo needs $50,000. Leo knows about the insurance policy, and that it is fully paid. Rather than take out a loan, he contacts City Life and asks for $50,000 as an advance against the full amount of the policy that will be due to him. What is City Life likely to do?
Answers
Answer:
The correct statement will be "Not give Leo the money since Leo is not vested".
Explanation:
Simon wanted to purchase a city life insurance package. Under that same agreement arrangement, Simon has compensated have all premiums owed. As that of the beneficiary including its scheme, Simon designated his brother, Leo.Leo requires 50,000 dollars. He reaches the urban environment instead of accepting a mortgage as well as demands for the amount owed including its gain that would accumulate to him following his brother's passing.
The remaining amount through Life insurance policies can only be compensated on Simon's death and nobody even, particularly Simon and his brother Leo, seems to have the authority to charge any compensation payout against that kind of policies especially given the fact that almost all the contributions have been compensated.
So the above is the right approach.
is, according to seitel (2001), the symbiosis of advertising, marketing, and public relations.
T/F
Answers
According to Seitel (2001), is there a symbiosis of advertising, marketing, and public relations is True.
According to Seitel (2001), there is indeed a symbiosis of advertising, marketing, and public relations. In the world of business communication, these three disciplines often work together closely to achieve a company's goals. Advertising is used to create awareness and generate interest in a product or service, while marketing involves the broader process of promoting and selling the product or service. Public relations, on the other hand, focuses on building and maintaining a positive image for the company. These three areas are interdependent, as the success of one can greatly influence the success of the others. By working together in a symbiotic relationship, advertising, marketing, and public relations can help a company effectively communicate its message to the public and ultimately achieve its objectives.
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Bottle Breacher was a successful company that began with crowdfunding through the television show Shark Tank. This is an example of the ______ model of crowdfunding, where an entrepreneur offers a stake in the company in exchange for backing.
Answers
Considering the situation described above, this is an example of the "Reward-based" model of crowdfunding.
This is because a reward-based crowdfunding model is a type of crowdfunding that gives the donor something of value in return.
These rewards may be in the form of commodities, services, discounts, or adverts, etc.
There are various types of crowdfunding models. The most common types are the following:
Equity-based model;Donation or social-based model;Lending model;Reward-based model.Hence, in this case, it is concluded that the correct answer is the "Reward-based model" of crowdfunding.
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Which of the following approaches measures team performance by the team's ability to meet specific, predefined goals
O the results approach
the behaviors/process approach
the goals approach
the outcome approach
Answers
Answer:
the results approach.
Explanation:
This is because this approach emphasises on the results and outcomes produced by the team.
The approaches that measures team performance by the team's ability to meet specific, predefined goals is: results approach.
What is result approach?Result approach is a performance evaluation approach and can be defined as the type of approach that is used to determine a person perfomance based on the outcome of their tasks.
Most companies tend to make use of result approach to know how well an employee perform on the tasks they are assigned especially when the employee meet or achieved the set goals.
Therefore the approaches that measures team performance by the team's ability to meet specific, predefined goals is: results approach.
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When a disrupted part of a wetland ecosystem is left alone so that nature can help restore it to what it once was, what are people counting on occurring
Answers
Th people counting on occurring secondary succession to occur.
What is secondary succession?When a place is disturbed but not severely enough to completely clear it of all vegetation and soil, secondary succession happens. Secondary succession can be started by a variety of disturbances, including fire, flooding, windstorms, and human activity (such as logging of forests). A commotion like a fire breaks out. The greenery was devastated by the fire. The soil is not destroyed by the fire, but it leaves nothing behind. First to regrowth are grasses and other herbaceous plants. The open space began to be colonized by little plants and trees.
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. Heayon has recently retired after years of hard work and smart planning. She has retirement accounts from four different sources: the government, a former employer who matched her retirement contributions, a former employer who guaranteed her a certain amount of money at her retirement, and a retirement account she set up herself. Write a three- to four-sentence paragraph identifying each of these account types and how they benefit Heayon.
Answers
Heayon will have various accounts operating in the procedure which are the retirement account, capital account , creditor's account and his personal account.
The retirement account is a personal account in the books of accounts, whereas the capital account and creditors account is the business account operated by them. The personal account is where all the amount is credited to the persons account which could be a salary or normal savings account.
The benefits recieved by heayon is it will recieve all the money of the service given and the emoluments and perks at the time of retirement.
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accounts receivable are valued and reported on the balance sheet question 1 options: a) at gross amounts less sales returns and allowances. b) only if they are not past due. c) at cash realizable value. d) in the investment section.
Answers
Accounts receivable are valued and reported on the balance sheet at the cash realizable value.
The cash realizable value is the expected amount of cash that the company will receive from its accounts receivable after accounting for any uncollectible amounts, discounts, or allowances.
This means that accounts receivable are not reported on the balance sheet at their gross amounts or only if they are not past due. Instead, they are reported at the estimated amount of cash that the company expects to collect.
The cash realizable value is calculated by subtracting the estimated amount of uncollectible accounts, sales discounts, and sales allowances from the total accounts receivable balance. This provides a more accurate representation of the company's current financial position and the amount of cash that it can expect to receive in the future.
Therefore, option C - at cash realizable value - is the correct answer to this question.
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Given the following information, what are the NZD/SGD currency against currency bid-ask quotations? (You are required to compute two sets of cross-rate bid and ask quotes. 1. "New Zeland dollar" means the cross rate of NZD/SGD. 2. "Singapore dollar" means SGD/NZD. Do not round intermediate calculations. Round your answers to 4 decimal places. ) American Terms Bid Ask Bank Quotations New Zealand dollar Singapore dollar European Teres Bid Ask 1. 3772 1. 3786 1. 6311 1. 6324 7277 -7284. 6144 6149 New Zealand dollar Singapore dollar Bid Ask
Answers
The bid-ask quotations for the NZD/SGD currency pair are as follows: New Zealand dollar (NZD) against Singapore dollar (SGD): Bid: 1.3772, Ask: 1.3786
Singapore dollar (SGD) against New Zealand dollar (NZD):
Bid: 0.7277
Ask: 0.7284
To calculate the bid-ask quotations for the NZD/SGD currency pair, we need to consider the cross rates between the New Zealand dollar (NZD), Singapore dollar (SGD), and the American Terms and European Terms bid-ask quotations.
For the NZD/SGD bid-ask quotations:
The bid quotation is obtained by dividing the European Terms bid (1.6311) by the American Terms ask (1.3786), which gives us 1.3772.
The ask quotation is obtained by dividing the European Terms ask (1.6324) by the American Terms bid (1.3772), which gives us 1.3786.
For the SGD/NZD bid-ask quotations:
The bid quotation is obtained by dividing 1 by the NZD/SGD ask quotation (1.3786), which gives us 0.7277.
The ask quotation is obtained by dividing 1 by the NZD/SGD bid quotation (1.3772), which gives us 0.7284.
Therefore, the bid-ask quotations for the NZD/SGD currency pair are as follows:
New Zealand dollar against Singapore dollar:
Bid: 1.3772
Ask: 1.3786
Singapore dollar against New Zealand dollar:
Bid: 0.7277
Ask: 0.7284
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At December 31, 2017, Mallory, Inc., reported in its balance sheet a net loss of $12 million related to its postretirement benefit plan. The actuary for Mallory at the end of 2018 increased her estimate of future health care costs. Mallory's entry to record the effect of this change will include: Group of answer choices A debit to Post-retirement benefit expense and a credit to APBO. A debit to Loss-OCI and a credit to APBO. A debit to APBO and a credit to Loss-OCI. A debit to Post-retirement benefit expense and a credit to Loss-OCI.
Answers
Answer:
A debit to Loss-OCI and a credit to APBO
Explanation:
When the net loss is reported on the balance sheet with respect to the postretirement benefit plan also the cost of the future health care is rise so the impact of the change would be that the other comprehensive income i.e. OCI would be debited while on the other hand the accumulated post benefit obligation would be credited
therefore the second option is correct
Art B. Traytor, a member of the American Arbitration Association and long-standing faculty member of the business school of a large university is heading out on the next plane for Detroit, Michigan where he will serve as an arbitrator between members of the United Auto Workers union and management of a major auto manufacturer. His responsibilities will deal with:
Answers
Art B. Traytor will serve as an arbitrator between members of the United Auto Workers union and management of a major auto manufacturer, where his responsibilities will deal with resolving disputes between both parties.
As an arbitrator, Art B. Traytor will have the responsibility to objectively listen to the arguments of both the United Auto Workers union and the management of the major auto manufacturer. He will then analyze the arguments and evidence presented to him and make a final decision that will be binding for both parties. His goal will be to resolve the disputes between the parties in a fair and impartial manner, following the rules and regulations of the American Arbitration Association. Through his expertise and knowledge, Art B. Traytor will provide a resolution that is satisfactory for both parties, ultimately helping them to move forward and continue working towards their goals.
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What negative consequences might a company face if it fails to keep accurate financial records?
Answers
Answer:
they can be audited
Explanation:
the government will step and and demand a record of all their revenue that they have not sent in and if their records doesn't match the records of the government they can be forced to shut down.
Match each definition with the correct key data analytics term.
Definition
Key data analytics term
a.
Analytics that seek to determine what should be done
b.
The process of turning raw data into actionable insights that lead to good business decisions
c.
Data that has a clearly defined order and may or may not have numbers associated with it (such as customer satisfaction rankings and employee rank)
d.
Data characterized by five Vs: volume, velocity, variety, veracity, and value
e.
Data that is not organized into predefined categories
f.
Analytics that help uncover the root cause of the current state
g.
Analytics that seek to predict what will happen in the future
h.
Data that represents things that have no numerical value (such as customer name, state, and distribution channel)
i.
A collection of observations
j.
The art and science of communicating quantitative information through visual presentations
k.
Analytics that collect, analyze, learn, and adjust without human intervention
l.
Data that is highly organized into predefined discreet categories, often contains labels, and is fairly easy to search and manipulate
m.
Analytics that describe what has happened or is happening
n.
Data that can be measured, counted, and aggregated (such as sales revenue, number of customers, and cost of product)
POSSIBLE ANSWER: Adaptive and autonomous analytics, Big data, Categorical (nominal) data, Data, Data analytics, Data Visualization, Descriptive analytics, Diagnostic analytics, Ordinal Data, Predictive analytics, Prescriptive Analytics, Quantitative data, Structures Data, Unstructured Data.
Answers
Each of the definition should be matched with the correct key data analytics terminology as follows;
Prescriptive Analytics: Analytics that seek to determine what should be done.Data Analytics: The process of turning raw data into actionable insights that lead to good business decisions.Ordinal Data: Data that has a clearly defined order and may or may not have numbers associated with it (such as customer satisfaction rankings and employee rank).Big Data: Data characterized by five Vs: volume, velocity, variety, veracity, and value.Unstructured Data: Data that is not organized into predefined categories.Diagnostic Analytics: Analytics that help uncover the root cause of the current statePredictive Analytics: Analytics that seek to predict what will happen in the future.Categorical (nominal) Data: Data that represents things that have no numerical value (such as customer name, state, and distribution channel)Data: A collection of observations.Data Visualization: The art and science of communicating quantitative information through visual presentations.Adaptive and Autonomous Analytics: Analytics that collect, analyze, learn, and adjust without human intervention.Structured Data: Data that is highly organized into predefined discreet categories, often contains labels, and is fairly easy to search and manipulate.Descriptive Analytics: Analytics that describe what has happened or is happening.Quantitative data: Data that can be measured, counted, and aggregated (such as sales revenue, number of customers, and cost of product).What is Big data?In Business management and computer technology, Big data can be defined as large (huge) collections of data that are typically difficult for users to process, analyze, and manage through the use of conventional data tools or traditional database methods and tools.
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Employees' feelings about their boss, including whether the boss is competent, polite, and a good communicator, is referred to as ______ satisfaction. multiple choice question.
Answers
Employees' feelings about their boss, including whether the boss is competent, polite, and a good communicator, is referred to as supervision satisfaction. Hence, Option (B) is correct.
"Supervision" refers to the relationship between employees and their immediate supervisor or boss.
It encompasses various aspects such as the boss's competence, communication skills, and demeanor, which directly impact employees' satisfaction and perception of their supervisor.
Employees' feelings about their boss play a significant role in their overall job satisfaction and work experience.
A competent and effective supervisor can positively influence employee morale, motivation, and productivity.
Politeness and good communication are essential qualities in a supervisor that contribute to a positive work environment and foster healthy relationships between employees and their bosses.
Thus, the term "supervision" accurately captures the concept of employees' satisfaction with their boss and the quality of their interactions.
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Employees' feelings about their boss, including whether the boss is competent, polite, and a good communicator, is referred to as ______ satisfaction.
A) social
B) supervision
C) promotion
D) Equity
a company has net sales of $838,000 and cost of goods sold of $555,500. its net income is $100,100. the company's gross profit and operating expenses, respectively, are:
Answers
$282,500 will be gross profit and -$182,400 will be operating expenses at net sales of $838,000.
To calculate the gross profit, we need to subtract the cost of goods sold (COGS) from the net sales:
Gross Profit = Net Sales - COGS
Gross Profit = $838,000 - $555,500
Gross Profit = $282,500
To calculate the operating expenses, we can use the following formula:
Operating Expenses = Net Income - Gross Profit
Operating Expenses = $100,100 - $282,500
Operating Expenses = -$182,400
The result is negative, which means that the company's operating expenses are greater than its net income. This may indicate that the company has additional expenses, such as interest expense, taxes, or non-operating expenses, that are reducing its overall profitability. Alternatively, it could suggest that the company opportunities has room to reduce its operating expenses in order to improve its profitability.
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Best Coffee Enterprises is dealing in a variety of coffee like Expresso, Cappuccino, and Caffe latte etc. It has several outlets in the city. It has a good financial standing and enjoys a good reputation in the market. It purchases high-quality coffee beans from Global Traders and pays them at a future date. Briefly explain the source of finance given by Global Traders to Best Coffee Enterprises.
Answers
Different sources of finance exist operated by various companies. Global Traders exist offering Trade Credit as a source of finance to the Best Coffee enterprises. Trade credit exists as a business-to-business (B2B) arrangement in which a customer can buy goods without spending cash up front, and delivering the supplier at the latest scheduled date.
What are the features of trade credit?It exists referred to as the payment holds authorized by the creditor for a specified period for their raw material.It exists usually comprehended as an instant source of finance.It usually occurs in B2B businesses where the payees exist and desired to pay within their established deadline.Trade credit exists as a business-to-business (B2B) arrangement in which a consumer can buy goods without spending cash up front, and paying the supplier at a later scheduled date. Usually, companies that work with trade credits will give customers 30, 60, or 90 days to pay, with the transaction recorded through an invoice.
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You work in a deli. Your busiest time of the day is the lunch hour rush, when many working people from nearby factories and businesses come to grab something quick to eat. Unfortunately, a new fast food restaurant is opening up next door to your deli. How can you avoid losing your lunch customers to this new competitor? 2.1Offer a solution to the problem described in the scenario by evaluating it against the eight (8) step problem-solving process.
Answers
To avoid losing your lunch customers to this new competitor, you need to develop a marketing and promotion plan to help attract and retain customers.
A solution based on the eight-step problem solving process would be:
Step 1 - Problem definition:
Entry of a new competitor in the market.Step 2 - Problem clarification:
A new fast food restaurant is opening next to its Delicatessen, which could pose a threat to the company as the main customers are workers from nearby companies who come for a quick bite to eat.Step 3 - Set goals:
The goals according to this scenario could be:
Maintain or increase monthly billing.Increase the company's revenue in the morning.Prospect new customers from social media.Step 4 - Identify the root cause of the problem:
The root cause of the problem is the fact that workers have the need for greater speed, which can be an opportunity for the fast food restaurant.Step 5 - Develop the action plan:
adapt your product to the customer's needs.provide discount coupons to the customer.create loyalty cards that guarantee 50% discounts for every 5 meals.create a delivery app.Step 6 - Execute the action plan:
The execution of the action plan is the stage where communication channels will be used to transmit your advertising.For each customer who goes to eat at Delicatessen, you can distribute loyalty cards and a discount coupon as a thank you.Staff training is also needed to make delivery of meals to the customer faster.Step 7 - Results evaluation:
In this step you should analyze the results of the new marketing actions implemented, observing the billing rates and customer behavior data.Step 8 - Continuously improve:
In the last step, therefore, it is necessary to identify and correct the possible flaws in the action plan in order to fix them and generate strength for quality and value creation for the customer through the services offered at the restaurant.Learn more here:
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Kelsey is researching the eating habits of elephants. She types “elephants” into her search engine and it returns a lot of results she doesn't need. What is the best way Kelsey can get more specific results?
Change her research topic.
Read through the results.
Use a different search engine.
Use specific keywords.
Answers
Answer:
Use specific keywords.
Explanation:
Changing the research topic wouldn't do anything but give her more questions she didn't need. Reading through the results would be a waste of time since it says all of the results are stuff that didn't help her. Using a different search engine has no matter in the situation.
Creating graphs to reach equilibrium
Answers
On a graph, the point the place the grant curve (S) and the demand curve (D) intersect is the equilibrium.
How do you draw a demand and supply curve at equilibrium?Put the quantity of the top you are requested to analyze on the horizontal axis and its charge on the vertical axis. Draw a downward-sloping line for demand and an upward-sloping line for supply. The preliminary equilibrium charge is determined with the aid of the intersection of the two curves. Label the equilibrium solution.
The equilibrium curve of a given shape represents, to some extent, its behavior. This curve is developed in an (n + 1) dimensional house if the device is of finite dimensions; otherwise, for continuum structures (such as beams, plates, shells, and deformable our bodies in general), the corresponding area is infinite.
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https://brainly.com/question/14297698#SPJ9n its recent income statement Tyler Toys Inc. reported $72.5 million of net income, and in its year-end balance sheet it reported $1,174 million of retained earnings. The previous year its balance sheet showed $1,131 million of retained earnings. What were the total dividends (in millions of dollars) paid to shareholders during the most recent year
Answers
I hope this helps you :)
trade-offs force society to answer questions such as what goods and services will be produced, how will the goods and services be produced, and who will receive the goods and services produced.
Answers
Trade-offs are a fundamental aspect of economics that involve making decisions about the allocation of resources.
For example, if a society decides to produce more military goods, it may have to trade-off producing fewer consumer goods. Similarly, if a society decides to produce goods using more labor-intensive methods, it may have to trade-off using less capital-intensive methods.
Finally, if a society decides to distribute goods and services more equally, it may have to trade off producing less overall. These trade-offs are necessary in order to make decisions about the allocation of resources and to ensure that society's needs and wants are met.
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How different would your life be if there weren't social media platforms? Would your life improve? What would you miss?
Answers
Answer:
I think it would improve because then people will be more interactive and social and everyone will be way more kind and I think its just way better in every way be social media is addicting to people. do yee. =)
Answer:
It will improve
Explanation:
Because the the citizen will be more caring to other things. I think there isn't a thing that we would miss
Perry Corporation is a local grocery store organized seven years ago as a corporation. At that time, a total of 10,000 shares of common stock were issued to the three organizers. The store is in an excellent location, and sales have increased the following year. At the end of the current year, the bookkeeper prepared the following statement (assume that all amounts are correct; note the incorrect terminology and format):
Required:
(a) Beginning with the amount of net sales, prepare an income statement (showing both gross profit and income from operations). Treat sales discounts as a contra-revenue.
Answers
To prepare an income statement for Perry Corporation, we need to start with the amount of net sales and include both the gross profit and income from operations. Sales discounts should be treated as a contra-revenue.
Here is a step-by-step explanation of how to prepare the income statement:
1. Start with the net sales figure. Let's assume the net sales for the current year are $150,000.
2. Next, calculate the gross profit. Gross profit is the difference between net sales and the cost of goods sold (COGS). COGS represents the direct costs associated with producing or purchasing the products that are sold. Let's assume the COGS for the current year is $100,000.
Gross Profit = Net Sales - COGS
Gross Profit = $150,000 - $100,000
Gross Profit = $50,000
3. Now, let's calculate the income from operations. Income from operations is the profit earned from the regular operations of the business, excluding non-operating expenses and income. In this case, we don't have any non-operating expenses or income mentioned in the question. Therefore, the income from operations will be the same as the gross profit.
Income from Operations = Gross Profit
Income from Operations = $50,000
4. Lastly, we need to present sales discounts as a contra-revenue. Contra-revenue is a deduction from gross sales that reflects sales discounts given to customers. Let's assume the sales discounts for the current year amount to $5,000.
Net Sales = Gross Sales - Sales Discounts
Net Sales = $150,000 - $5,000
Net Sales = $145,000
To summarize, the income statement for Perry Corporation would look like this:
Income Statement
Net Sales: $150,000
Cost of Goods Sold: $100,000
Gross Profit: $50,000
Income from Operations: $50,000
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The income statement shows a company's revenues, expenses, and resulting profit or loss for a specific period. To prepare the income statement for Perry Corporation, we need to start with the net sales amount and then calculate the gross profit and income from operations.
Here is the step-by-step process:
1. Begin with the amount of net sales. This represents the total sales revenue generated by the company during the given period. Let's assume the net sales amount is $100,000.
2. Next, we need to calculate the cost of goods sold (COGS). This includes the direct costs associated with producing or purchasing the goods that were sold. Let's assume the COGS is $60,000.
3. Now, subtract the COGS from the net sales to find the gross profit. Gross profit is the amount of revenue that remains after deducting the cost of goods sold. In this case, the gross profit would be $100,000 - $60,000 = $40,000.
4. The next step is to calculate the operating expenses. These include expenses such as rent, utilities, salaries, and advertising costs. Let's assume the operating expenses are $20,000.
5. Subtract the operating expenses from the gross profit to determine the income from operations. Income from operations represents the profit earned by the company before considering any interest or taxes. In this case, the income from operations would be $40,000 - $20,000 = $20,000.
Finally, we have prepared the income statement for Perry Corporation:
Income Statement
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Net Sales: $100,000
Cost of Goods Sold: $60,000
Gross Profit: $40,000
Operating Expenses: $20,000
Income from Operations: $20,000
Remember, this is just a basic example, and actual income statements may include additional items such as interest income, interest expense, taxes, and non-operating income or expenses.
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What can a boosted post help an advertiser achieve?
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