Answer and Explanation:
1. Interest Revenue $23,000
Sales Revenue $510,000
To Income Summary $533000
(Being closing of revenues accounts are closed)
2. Income Summary $453,000
To Sales returns $20,000
To Sales Discounts $7,000
To Cost Of goods sold $310,000
To Freight out $2,000
To Advertise Exp $15,000
To Interest Exp $19,000
To Salaries & Wages $55,000
To Utility $18,000
To Depreciation $7,000
(Being closing of expenses accounts are closed)
3. Income Summary $80,000
To Retained Earning $80,000
(Being profit is recorded)
4. Retained Earning $30,000
To Dividends $30,000
(Being closing of dividend is recorded)
Answer: Disruptive innovation
Explanation: Disruptive innovation is an application of nicer finding that relay new conditions and demand at operation at current time that establishes a new demand and graphical diagram of civil and specialized aids inside and between companies and how they are effectively and practically used. Ultimately, it interrupts an existing demand and value network, taking over conventional demand-dominating companies, commodities, and unions.
Answer:
On a Saturday, Wanda goes to the local farmers’ market to take a break from baking treats. While she is there, she sees a vendor with customers crowded around the stall. When she asks someone what all the excitement is about, a customer informs her that a woman who sells gourmet dog treats has just arrived, and if Wanda doesn’t get in line early, the woman will sell out. The customer goes on to tell Wanda that this vendor always sells out, and that since she has started buying these treats for her dogs, her dogs seem much healthier and happier. Wanda waits in line with the other customers.
When it is Wanda’s turn, she engages the woman in conversation about the ingredients in her treats and her process for making them. The woman is very nice and actually shares a recipe with Wanda for a pumpkin peanut butter dog biscuit that has always been one of her best-selling items. Wanda purchases one of each treat the woman is selling and takes the recipe when it is offered to her, never mentioning that she is in the same business. She plans to “reverse engineer” the treats and test the new recipe out that very day.
Explanation:
Answer: $20040
Explanation:
The amount of accumulated depreciation at December 31, 2013, will be calculated thus:
Cost = $51000 + $2100 + $6000 = $59100
Less: Salvage value = $9000
Depreciable cost = $50100
Annual depreciation will then be:
= $50100/5
= $10020
Accumulated depreciation at Dec 31,2013 will then be:
= $10020 × 2
= $20040