Answer:
see below
Explanation:
Social enterprises participate in commercial activities to solve social problems, improve communities' well-being, and better the environment. They make money through normal trading activities.
<em>Some characteristics of social enterprises include</em>
1. They have a mission to serve the community by initiating and supporting social, environmental, cultural, and economic programs. Social enterprises are not entirely driven by profits but have social missions to achieve.
2. Social enterprises generate the majority of their income through business activities. They are self-reliant as the selling of goods and services is their primary source of revenue.
3. A big proportion of the profits generated by social enterprises is invested in community projects. Social enterprises use profits to achieve their social objectives.
Answer:
The Journal entries are as follows:
(1)
Equipment A/c Dr. $71,890
To cash $3,790
To accounts payable $68,100
(To record the purchase of equipment)
Workings:
Equipment value:
= Purchase price + Sales tax + Freight charges for shipment of equipment + Installation of equipment
= 64,000 +4,100 + 890 + 2,900
= $71,890
Cash Paid:
= Freight charges for shipment of equipment + Installation of equipment
= 890 + 2,900
= $3,790
Accounts payable = Purchase price + Sales tax
= 64,000 +4,100
= $68,100
(2)
Prepaid Insurance A/c Dr. $1,090
To cash A/c $1,090
(To record any expenditures not capitalized in the purchase of equipment)
Answer:
The most probable result is that the court will declare the contract invalid and non-binding because the purchase price and important terms regarding the consideration involve are too vague and indefinite.
In order for a contract to be considered valid and binding, consideration must exist and the more precise the terms, the better. Consideration is something of value that both parties exchange. In this case it is a house vs. money, but the price is not specified.
Answer:
impulsively stopping persons on the street to inquire about their buying habits
Explanation:
For businesses which are to be started, conducting marketing research can help the business know the products that would generate profits while for existing businesses, market research help companies to determine if their customers are satisfied with their services. Ways of conducting market research are:
- Conducting interviews through phone calls or person to person.
- sending questionnaires by mail or placing them online
- Conducting online surveys
- Buying information from commercial or governmental data sources.
Using information from commercial or governmental data sources may not be reliable because it may be outdated.
P = $7,000, principal
r = 6% = 0.06, rate
n = 1, compounding interval
t = 4 years
Calculate the value after 4 years.
A = 7000*(1 + 0.06)⁴
= $8,837.34
Answer: d. $8,837.34
