Taylor Company uses the gross method and a perpetual inventory system. Assuming the following entries, compute the amount that Taylor Company received on July 15. July 4 Sold goods costing $7,800 to Ramirez Company on account, $13,000, terms 4/10, n/30. The goods are shipped FOB Shipping Point, Freight Prepaid by Seller, $90.
July 10 Ramirez Company returned undamaged merchandise previously purchased on account, $1,800.
July 15 Received the amount due from Ramirez Company.

When someone buys a fourth television for his or her house, what is the result? a. there's a decrease in the marginal utility of the television. b. the increase in demand brings leads to higher prices for televisions. c. the production of televisions becomes more efficient. d. there's a rise in the opportunity cost of buying other goods.

Which of the following statements is correct? large corporations are taxed more favorably than sole proprietorships. corporate stockholders are exposed to unlimited liability. due to limited liability, unlimited lives, and ease of ownership transfer, the vast majority of u.s. businesses (in terms of number of businesses) are organized as corporations. most businesses (by number and total dollar sales) are organized as partnerships or proprietorships because it is easier to set up and operate in one of these forms rather than as a corporation. however, if the business gets very large, it becomes advantageous to convert to a corporation, mainly because corporations have important tax advantages over proprietorships and partnerships. most business (measured by dollar sales) is conducted by corporations in spite of large corporations’ often less favorable tax treatment, due to legal considerations related to ownership transfers and limited liability.

If the economy were in the contracting phase of the business cycle, how might that affect your ability to find work?