BUSINESS COLLEGE

Kay borrowed $200,000 for her business. First Bank loaned the money but required a surety and collateral. Kay put up her boat, valued at $110,000, and Anson agreed to guarantee the entire loan. After Kay had paid $50,000 of the loan, she asked First Bank to release the collateral since she wanted to sell it to her brother. The bank looked at her perfect payment record and agreed. Two weeks later, she sold the business, took the boat to Brazil, and never was heard from again. Can First Bank collect from Anson?

Answers

Answer 1
Answer:

Answer:

Yes but only $90,000

Explanation:

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Selected transactions for M. Coronado, an interior decorator, in her first month of business, are as follows. Jan. 2 Invested $11,700 cash in business.
3 Purchased used car for $3,510 cash for use in business.
9 Purchased supplies on account for $585.
11 Billed customers $2,808 for services performed.
16 Paid $410 cash for advertising.
20 Received $819 cash from customers billed on January 11.
23 Paid creditor $351 cash on balance owed.
28 Withdrew $1,170 cash for personal use by owner.
1. Journalize the above transactions.
Date Account Titles and Explanation Debit Credit
Jan. 2Jan. 3Jan. 9Jan. 11Jan. 16Jan. 20Jan. 23Jan. 28
Jan. 2Jan. 3Jan. 9Jan. 11Jan. 16Jan. 20Jan. 23Jan. 28
Jan. 2Jan. 3Jan. 9Jan. 11Jan. 16Jan. 20Jan. 23Jan. 28
Jan. 2Jan. 3Jan. 9Jan. 11Jan. 16Jan. 20Jan. 23Jan. 28
Jan. 2Jan. 3Jan. 9Jan. 11Jan. 16Jan. 20Jan. 23Jan. 28
Jan. 2Jan. 3Jan. 9Jan. 11Jan. 16Jan. 20Jan. 23Jan. 28
Jan. 2Jan. 3Jan. 9Jan. 11Jan. 16Jan. 20Jan. 23Jan. 28
Jan. 2Jan. 3Jan. 9Jan. 11Jan. 16Jan. 20Jan. 23Jan. 28

Answers

Answer:

Jan.2

Dr Cash                      11,700

Cr Owner Equity       11,700

( to record owner's capital contribution to the business under the form of cash)

Jan.3

Dr Vehicles          3,510

Cr Cash               3,510

( to record the purchase of used car in cash)

Jan.9

Dr Supplies                  585

Cr Account Payable   585

(to record supplies purchase on account)

Jan.11

Dr Account Receivable          2,808

Cr Revenue                            2,808

( to record revenue earned in credit)

Jan.16

Dr Advertising expenses           410

Cr Cash                                      410

( to record advertising expenses paid in cash)

Jan.20

Dr Cash                              819

Cr Account Receivable    819

( to record the partial collection of receivables)

Jan.23

Dr Account Payable        351

Cr Cash                           351

( to record payment to creditor)

Jan.28

Dr Owner Equity              1,170

Cr Cash                           1,170

(to record owner's withdraw of capital in form of cash)

Explanation:

During October, Crane Company experiences the following transactions in establishing a petty cash fund. Oct. 1 A petty cash fund is established with a check for $146.00 issued to the petty cash custodian.
Oct. 31 A check was written to reimburse the fund and increase the fund to $196.00.

A count of the petty cash fund disclosed the following items:
Currency $59.00
Coins 2.07
Expenditure receipts (vouchers):
Supplies $24.73
Miscellaneous items 15.03
Postage 38.33
Freight-Out 5.43

Journalize the entries in october that pertain to the petty cash fund.

Answers

Explanation:

The journal entries are shown below:

1. Petty cash A/c $146

            To Cash A/c $146

(Being the petty cash fund is established)

2. Office supplies A/c Dr $4.73

Miscellaneous items $15.03

Postage $38.33

Freight-Out $5.43

Cash short and over A/c $21.41      (Balancing figure)

Petty cash A/c $50         ($196 - $146)

             To Cash $134.93    ($196 - $59 - $2.07)

(Being the expenses are recorded)

     

3. Explain why price is equal to marginal revenue in pure competition but not in a monopoly. Include in your explanation why the marginal revenue curve is steeper than the demand curve for a single price monopolist?

Answers

In a perfect competition market, the Marginal Revenue is equal to the price (MR = P), and for monopolist, the marginal revenue is not equal to the price, because changes in quantity of output affects the price.

Why is price equal to Marginal revenue in pure competition?

Marginal revenue (MR) is an increase in the total revenue resulting from an increase in one unit of product. As the price always remains constant in perfect competition, increasing the total revenue from the production of 1 additional unit will be equal to the price.

Therefore, Price = Marginal Revenue (P = MR) in perfect competition.

In a monopoly the demand curve is the same as the firm's demand curve, in that the industry demand curve drops downwards. One owner can set the price or quantity and not both.

If one is determined the price of the other will be determined by the demand function. Increasing the monopolist's profit also requires that the marginal cost should be equal to the marginal revenue as if it were in perfect competition.

The Marginal revenue curve is steeper than the demand curve because a straight line is market demand. The firm will have to lower the Product Price if it wants to sell more of its product a unit of sale sold average revenue equal to the Price.

So the AR curve of AR monopolist and perfect competition MR and AR are both same.

Thus, this is the reason why the marginal revenue curve is steeper than the demand curve in the case of a monopolist.

To learn more about Marginal revenue, refer to the link:

brainly.com/question/10822075

Answer:

The answer is in a perfect competition profit is maximized when marginal cost equal marginal revenue and price is equal to average revenue and marginal revenue, while in monopolist profit is maximized when marginal cost is equal to marginal revenue.

Explanation:

The firm in a perfectly competitive market is a price taker,the price in the market is determined by the market forces of demand and supply. The firm has to sell their product at the ruling market price.The demand curve facing the firm in perfectly competitive market is horizontal or perfectly elastic, profit is therefore maximized when the marginal cost is equal to average revenue and marginal revenue. The firm in the market operate at the output level in which the price and marginal revenue is equal to marginal cost. Whatever prices that change the market demand or supply will change the demand curve faced by the firm.The firm cannot do anything to this than to accept the market price and the demand curve.

In a monopoly the demand curve is identical to the demand curve of the firm, because industry demand curve is downward sloping.The monopolist can either set the price or quantity not the two.when one is determined the value of the other will be determined by the demand function. The profit maximization of the monopolist also requires that marginal cost must be equal to marginal revenue just like in the case of perfect completion.when the monopolist equates MR and MC the monopolist determines its output and the market price for the product. The revenue curve is steeper than the demand curve,because the straight line is the market demand. The firm will have to reduce The price of the product if they want to sell more of their product the unit of the product sold is the AR which is equal to the price.Therefore the AR curve of the monopolist and the perfect competition MR and AR are both identical that informed the reason why the marginal revenue curve is steeper than the demand curve for a single price monopolist.

11) Individual Web pages or clusters of pages that function as supplements to a primary site are ________. A) search engine optimization B) pay-per-click ads C) delighters D) microsites E) touch points

Answers

Individual Web pages or clusters of pages that function as supplements to a primary site are  microsites.

What is a microsite?

  • Microsites are brand-specific websites (or a single web page) that businesses use to advertise their particular goods, occasions, or campaigns. These have a different URL than their corporate websites and are hosted on their own domain or a subdomain of the company.
  • A microsite is a branded content website, sometimes known as a "content centre," that is independent of your brand's URL and/or company website.
  • Microsites can be subdomains of your main website or even a subdirectory within it; they are not required to have entirely unique URLs.

To learn more about Microsites refer,

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#SPJ4

The knowledge a firm possesses can be a source of competitive advantage. Describe ways that a firm can continuously learn to maintain its competitive position.

Answers

Answer:

It includes; Digging deeper into areas of knowledge/expertise and comparison of achievement can help foster,creat or lead to a competitive position/ advantage. Finding out, sourcing and making use of other areas or sources of knowledge and information can keep a company up to date of competitive efforts and leads to an environment for creativity, shows/ create new knowledge within the company thereby finally leading toexisting competitive advantages and going after new ones.Success is a product of failure so therefore, getting the knowledge of failure as part of the innovative process can bring good results.

Meeting goals with all flexibility and sharing of personal stories, sourcing outsiders, proving one’s self wrong will all foster a kind of fear-free searching of new ideas.

Explanation:

For firm generally, crafting, creating or bringing a strategy that gives/yields a competitive advantage over rivals is said to be the most reliable means of achieving above-average profitability and financial performance in any organization. A company can attain and have sustainable competitive advantage if and when the elements of the strategy used by the company give buyers lasting and good impression orreasons to prefer a company's products or services over those of their competitors.

Strategic approaches used by company to build a competitive advantage includes; Focusing on a narrow market environment (niche) within an industry and also creating an advantage based on offering more value for the money e.t.c.

Is there too much pressure on girls to have perfect bodies?

Answers

yes because girls feel like they have to please everyone and leave up to people expectations
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