Before the Journal Entry Above, Martin Had Assets of $900,000;

question 32

Multiple Choice

Before the journal entry above, Martin had assets of $900,000; liabilities of $460,000; and owners' equity of $440,000. Total assets immediately after the above transaction has been recorded amount to:

• A) $905,000.
• B) $921,000.
• C) $956,000.
• D) $794,000.

---

Definitions:

Peak-Load Pricing

Peak-load pricing is a pricing strategy where prices are higher during periods of high demand and lower during periods of low demand to manage demand and maximize profits.

Intertemporal Price Discrimination

A pricing strategy where businesses charge different prices for the same product or service at different times to maximize profits.

Vacation Packages

Pre-arranged travel plans combining elements like accommodation, transportation, and activities into a single purchase, often offering cost savings.

Peak-Load Pricing

A pricing strategy that involves charging higher prices during periods of high demand and lower prices during periods of lower demand.