To prepare the adjusting entry for uncollectibles using the percent of sales method, we need to calculate the estimated amount of uncollectible accounts based on the sales and the estimated percentage.
The estimated uncollectibles amount is calculated as:
Estimated uncollectibles = Sales * Estimated percentage of uncollectibles
Estimated uncollectibles = $470,000 * 2% = $9,400
Therefore, the adjusting entry to record the estimated uncollectibles on December 31 would be:
Debit: Bad Debt Expense $9,400
Credit: Allowance for Doubtful Accounts $9,400
The Bad Debt Expense account is debited to recognize the estimated uncollectibles as an expense for the period. The Allowance for Doubtful Accounts is credited to increase the contra asset account, which reduces the accounts receivable balance to its estimated net realizable value. that the unadjusted trial balance shows only the gross amount of accounts receivable, and the allowance for doubtful accounts has not been previously recorded. Therefore, the adjusting entry is necessary to accurately report the estimated uncollectibles and to ensure the accounts receivable are stated at their estimated net realizable value.
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Milden company is a distributor who wants to start using a contribution format income statement for planning purposes. the company has analyzed its expenses and developed the following cost formulas: cost cost formula cost of good sold $35 per unit sold advertising expense $210,000 per quarter sales commissions 6% of sales shipping expense ? administrative salaries $145,000 per quarter insurance expense $9,000 per quarter depreciation expense $76,000 per quarter because shipping expense is a mixed cost, the company needs to estimate the variable shipping expense per unit sold and the fixed shipping expense per quarter using the following data: quarter units sold shipping expense year 1: first 10,000 $ 119,000 second 16,000 $ 175,000 third 18,000 $ 190,000 fourth 15,000 $ 164,000 year 2: first 11,000 $ 130,000 second 17,000 $ 185,000 third 20,000 $ 210,000 fourth 13,000 $ 147,000 required: 1. using the high-low method, estimate a cost formula for shipping expense in the form y
The cost formula for shipping expense is y = $28,000 + $9.1x where x represents the number of units sold.
To estimate the cost formula for shipping expenses using the high-low method, we need to identify the highest and lowest levels of activity and the corresponding total costs. From the data provided, it appears that the highest level of activity is in Year 2, the third quarter with 20,000 units sold and a shipping expense of $210,000. The lowest level of activity is in Year 1, a first quarter with 10,000 units sold and a shipping expense of $119,000.
The variable cost per unit can be calculated as the change in cost divided by the change in activity: ($210,000 - $119,000) / (20,000 - 10,000) = $9.1 per unit.
The total fixed cost can be calculated by subtracting the total variable cost from the total cost at either the highest or lowest level of activity. Using the highest level of activity: $210,000 - ($9.1 * 20,000) = $28,000.
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Suppose that you were hired to advise Gillette on how to determine the two parts to the tariff. What advice could you offer?
O When consumers have identical demands, set blade price equal to MC and the razor price should equal CS for each consumer
O When consumers have different demands, set blade price equal to MC and the razor price should equal CS for each consumer
O When consumers have identical demands, set blade price equal to zero and the razor price should equal CS for each consumer
O When consumers have different demands, set blade price equal to
zero and the razor price should equal CS for each consumer
Suppose that farm equipment can be rented under two alternative plans:
(1) A two-part tariff: pay an annual membership fee and then pay a small fee for the daily rental of each piece of equipment
(2) A straight rental fee: pay no membership fee, but pay a higher daily rental fee. Why offer the customer the choice of two plans rather than simply a two-part tariff?
O This increases efficiency by increasing consumer choice
O This increases profits by combining a two-part tariff with third degree price discrimination
O this increases profits by combining a two-part tariff with intertemporal price discrimination
O This increases efficiency by reducing production costs
Suppose that farm equipment can be rented under two alternative plans:
(1) A two-part tariff: pay an annual membership fee and then pay a small fee for the daily rental of each piece of equipment
(2) A straight rental fee: pay no membership fee, but pay a higher daily rental fee. What is the logic of the two-part tariff?
O reduce the cost of production by eliminating waste
O segment the market into high and low volume customers
O reduce reservation prices
O prevent arbitrage between consumers
when advising Gillette on determining the two parts to the tariff, it is important to consider the demands of consumers and set prices accordingly to cover costs and capture consumer surplus. Offering customers a choice between different payment plans can increase efficiency and cater to different preferences. The logic behind a two-part tariff is to segment the market and ensure costs are covered while providing lower rental fees for high volume customers.
If I were hired to advise Gillette on how to determine the two parts to the tariff, my advice would be to set the blade price equal to the marginal cost (MC) and the razor price equal to the consumer surplus (CS) for each consumer. This advice applies when consumers have identical demands. By setting the blade price equal to the MC, Gillette ensures that they cover their production costs. Setting the razor price equal to the CS allows Gillette to capture some of the additional value that consumers receive from using their razors.
However, if consumers have different demands, my advice would be to still set the blade price equal to the MC, but the razor price should be based on each consumer's CS. This approach acknowledges that consumers have different preferences and willingness to pay for the razor.
Moving on to the second question, offering customers a choice between a two-part tariff and a straight rental fee increases efficiency by increasing consumer choice. It allows customers to select the payment plan that best suits their needs and budget. This flexibility can attract more customers and increase overall profits.
Regarding the logic of a two-part tariff, it serves to segment the market into high and low volume customers. The annual membership fee acts as a barrier to entry for low volume customers, ensuring that the costs of serving them are covered. The small fee for the daily rental of each piece of equipment then allows the high volume customers to enjoy the benefits of renting at a lower cost.
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influences of Business environment,
Factors that Influence the business environment are :
Economic environmentSocial environmentTechnological environmentPolitical environmentLegal environment
The business environment means the total of all the individuals, and institutions that could affect the working of the business firm.
Importance of business environment:
Business environments help the firm to prepare itself for every possible obstruction or hindrance that can affect the functioning of the firm.It also helps the firm to adjust to frequent changes.The economic environment is all the things that create an economic impact on the firm.
The social environment is all the traditions and customs of the society that creates an impact on the firm.
The technological environment is all the impact on the firm caused due to new technology and upgradations.
The political environment is the conditions and behavior that the elected representatives hold toward the business
The legal environment is entirely based on the rules and legislation of the authorities.
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how should contact center wohow should contact center workstations be positioned to maximize productivity?
Give your workers freedom. Working in a call center might seem monotonous at times.
What does the term "employee" mean?A person engaged by a company to do a certain task is known as an employee. Employers are in charge of deciding how much an employee is paid, when they work, and how they work. Employees receive advantages that contractors do not in return.
What is the primary objective of an employee?Worker meaning is the feeling of significance that employees derive from their work and the degree to which their ideals are shared by a company. It ultimately comes down to giving staff members the tools and support they need to infuse meaning into their workdays and professional environments. They help to increase the productivity of company.
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Write a storyline in work environment that apples (3) employability skills to be a productive and positive employee.
Answer:
Storyline
Explanation:
You work in a hotel.
To be a productive and positive employee, there are a few must and must nots. Let's say that you work at the front desk. When your customer walks up to your desk, always make sure to greet them with the appropriate sayings. Ask directly what you can do to help them, and do it in a timely manner. If they are unsure or have any questions at all, make sure that they feel welcome to ask any questions.
Don't ask the customer inappropriate questions. such as;" What do you want?". Greet them nicely and treat your guests as your family.
To be a productive employee make sure you are on time as scheduled, do any assignments the day before and always show up with a smile.
If the price of tortilla chips decreases, and as a result, you buy more salsa, then tortilla chips and salsa:
There are different types of goods, and the price of a good will determine the purchase, tortilla chips and salsa are complementary goods.
What are complementary goods?
A complementary good are goods that have similar use or are related to another.
These goods can be used together at times, or used separately.
Therefore, tortilla chips and salsa are complementary goods because salsa can easily replace tortilla in case of high price.
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______ Is a market in which a large number of suppliers compete with each other to satisfy the needs and wants of a large numbers of consumers at a competitive price.???
Answer : Monopolistic competition
Answer:
Monopolistic Competition
Explanation:
In a monopolistic competitive market, there are large numbers of sellers who do not sell identical products instead they sell differential products. They compete with each other at a competitive price. The products could be differentiated in many ways including quality, style, location and even brand name. Since they compete at a competitive price, if there is a substantial rise in the price of any of the products, the buyers could quickly shift from one product to another. The most crucial factor behind product differentiation is because of geographical factors. Under a monopolistic competitive market, the sellers do not have any influence over customer loyalty and limited control over the price.
If the sales price per unit increases because of competition but the cost structure remains the same the degree of combined leverage rises All of the options are true. the breakeven point declines the degree of financial leverage rises
If the sales price per unit increases because of competition but the cost structure remains the same, then the degree of combined leverage rises. This means that the company's fixed costs remain the same, but its sales revenue is increasing. Therefore, the company's operating leverage is increasing, resulting in higher combined leverage.
In this scenario, the company's breakeven point would decline because the increase in sales price per unit means that fewer units would need to be sold to cover the fixed costs. This would improve the company's profitability and increase its degree of financial leverage, as the company would be earning more profit for each dollar of debt it has.
However, it is important to note that an increase in competition can also lead to a decrease in sales volume, which could negatively impact the company's overall financial performance. Therefore, it is important for companies to have a strong competitive advantage and adapt to changes in the market to maintain profitability and sustainable growth.
Overall, an increase in sales price per unit due to competition can have both positive and negative effects on a company's financial leverage, depending on how it affects the company's sales volume and profitability.
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which incident inspired Aaitaman?
Answer:
you can search either in Google or brainly and then you will have the answer
If catalonia gained independence, it would be
a a new nation-state.
b a stateless nation.
c a nation within spain.
d a region under spanish rule.
If Catalonia gained independence, it would become a new nation-state. A nation-state is a political entity that has sovereignty over a defined territory and people. Catalonia is a region in northeastern Spain that has been seeking independence for decades. It has its own distinct language, culture, and history, and many Catalans believe that they should have the right to self-determination and control over their own affairs.
If Catalonia were to become independent, it would become a new nation-state with its own government, laws, and institutions. However, it is important to note that Spain does not recognize Catalonia's independence and has taken steps to prevent it from happening. Thus, while Catalonia may be considered a nation within Spain, it would not be a stateless nation or a region under Spanish rule if it gained independence.
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Questionnaire 9 Ecom help
Credit cards are protected from loss or theft is an advantage of using credit card.
What benefits come with using a credit card?Accounts for credit cards are always simple to grasp. Credit cards are safeguarded against theft or loss. Low interest rates apply to credit cards. You can utilise your credit card account as a savings account.
Credit cards can be useful tools for developing credit, travelling, handling crises or unforeseen bills, and earning rewards when used carefully. A rewards credit card gives the cardholder benefits for making purchases, as the name suggests.
Are credit cards secure against theft or loss?If your credit card purchase was unintentionally destroyed or stolen within a specific time frame, your issuer will cover the cost. Your claim won't be completed until your credit card company receives the necessary paperwork from you.
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The impact of Furman v. Georgia (1972) was that states had to
promise to use the death penalty only with approval from the Supreme Court.
throw out the old Miranda warning and write a new one.
agree to throw out all state laws regarding crime and impose national standards.
create clear standards to be applied fairly before imposing the death penalty.
Answer: D.create clear standards to be applied fairly before imposing the death penalty.
Explanation: The answer it's right there
The impact of Furman v. Georgia (1972) was that states had to
create clear standards to be applied fairly before imposing the death penalty.The Furman v. Georgia caseThis was a case that had to do with the cruel and the unusual way that people faced in the death penalty.
The case ruled that the death penalty was unconstitutional if it was applied in a discriminatory way.
It ruled that the eight amendment was being violated if used in this way.
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The main purpose of a depository institution is to:
A. hold deposits in accounts and use that money to offer loans.
B. provide guaranteed payments to depositors under specific
conditions.
C. use deposited money to purchase stocks and bonds in order to
make a profit.
D. allow customers to deposit money into accounts at no charge.
SUBMIT
Answer:
A. hold deposits in accounts and use that money to offer loans.
Explanation:
Depository institutions include commercial banks, credit unions, among others. They provide a safe, secure, and convenient way for customers to save money and a source of credit for households and businesses. Depository institution offers interest on deposits and uses that money to extends loans at a higher interest.
Interest on loans is the main source of revenue for depository institutions. They create loans from customer deposits and facilitate household and business expansion in the economy.
A. hold deposits in accounts and use that money to offer loans.
What is a sales quote?
Answer:
Explanation:
A sales quote allows a prospective buyer to see the costs that will be involved for desired work.
HELPPPP PLEASE I WILL GIVE YOU BRAINLIST
Suppose you are going to buy a car. How do larger economic factors influence the pursuit of this goal.
A financial goal that I have is to have a well-paying job as I get out of high school so I can afford to go to a University of my choice. This way I won't be in crippling debt and have to take out massive student loans. However, inflation as well as taxes will influence this. Income taxes will force me to have to give up some of my hard-earned money, which will significantly reduce the amount of money I actually make.
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Rolando purchases 13 shares of COIN at $325 per share. If he sells the
shares at $365, what is his net gain?
$123
$520
$4225
$4745
Answer:
$520
Explanation:
13 multiplied by 365 = 4,745.
-
13 multiplied by 325 = 4,225
=520
Alton had $725 for Medicare, $3000 for state income tax, and $3100 for
Social Security deducted from his pay last year. How much did Alton have
deducted from his pay for FICA last year?
OA. $3825, because FICA consists of Medicare and Social Security
OB. $3725, because FICA consists of Medicare and Social Security
OC. $3725, because FICA consists of Medicare and state income tax
OD. $3825, because FICA consists of Medicare and state income tax
← PREVIOU
SUBMIT
The amount Alton have deducted from his pay is B. $3725, because FICA consists of Medicare and Social Security.
How to Determine the Amount Deducted from FICA in a year?The correct answer is OB. $3725, since FICA which is the Federal Insurance Contributions Act, is composed of Medicare and Social Security deductions.
The total deductions mentioned in the question include $725 for Medicare and $3100 for Social Security, making a combined total of $3725 for FICA deductions. State income tax is separate from FICA and is not included in the calculation of FICA deductions.
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PLEASE HELP GUYS WRITE A TOPIC WITH AT LEAST 200 TO 300 WORDS ABOUT DOGS RESEACH AND RESTATE IT IN YOU OWN WORDS PLEASE I WILL GIVE YOU BRAINLEST!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Answer:
Did you know that dogs' noses are wet. Probably because of the fact that they drink water by licking and it may get on their nose or it's just wet. Dogs have feelings just like us humans do. They feel when something is wrong. They know when you happy and sad. Dog's are smart and listen very well if you train them. Dogs tend to lick us because that's their way of showing love. You know how us people just say I love you and show it well, since dogs can't talk they lick us and play around with us. Dogs also tend to stare at us which sometimes can be creepy but that's another way they show affection. Now if they don't know you then they will stare and bark because they need to absorb you and try to make sure you want to hurt their owner. Lastly, dogs can get jealous because they might see you with another do and think you're replacing them or they might see you with a baby and get jealous because they might feel not loved or cared for anymore so they expect all the love from you because they are attached and spoiled. Overall, dogs are loving and caring for little pets.
Answer:
Dog's are loving and caring kinda pets and tend to want all the attention
Explanation:
True or False: Secondary data is usually more expensive than collecting primary data.
The statement that secondary data is generally more expensive than primary data collection is False.
Indeed, primary data is very expensive while secondary data is economical. When working with a small budget, researchers benefit from working with secondary data and then analyzing it to discover new trends.
What is Primary and Secondary data?Primary data is first-hand data collected by the researcher himself. Primary data is “pure” in the sense that no statistical operation has been performed on it and that it is original.
Secondary data on the other hand is a type of data that comes from somewhere it was originally collected. This means that this type of data has already been collected by some scholars or researchers in the past and is available in published or unpublished form. This information is impure because it may have already been the subject of statistical processing.
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Sandra acquired a passive activity three years ago. Until last year, the activity was profitable, and her at-risk amount was $300,000. Last year, the activity produced a loss of $100,000, and in the current year, the loss is $50,000. Assuming Sandra has received no passive activity income in the current or prior years, her suspended passive activity losses from the activity are: a. $90,000 from last year and $50,000 from the current year. b. $100,000 from last year and $50,000 from the current year. c. $0 from last year and $0 from the current year. d. $50,000 from the current year.
Answer:
c. $0 from last year and $0 from the current year.
Explanation:
$300,000 - $100,000 = $200,000 new at risk basis at the end of last year
at risk basis at the end of current year = at risk basis at the end of last year - current year's loss = $200,000 - $50,000 = $150,000
since at risk basis is still $150,000 (not negative), there is no suspended passive activity loss
Ashleigh hires a group of security staff. Each worker works an average of 80 hours per month at $14/hour. If her monthly labor cost for security workers is $23,520, how many security workers did Ashleigh hire? a) 15 b) 21 c) 36 d) 47
Answer:
b) 21
Explanation:
Each worker works an average of 80 hours per month and earns $14 per hour.
Each employee will earn 80 hours multiplied by $14
=80 x $14
=$1,120
If the monthly labor cost for security worked is $23,520, she has hired
=$23,520/$1,120
=21 security workers
Answer: 21 workers
Explanation:
Mandy wants to mention detailed information about her hobbies, personal qualities, strengths, and professional achievements in a document she can show her prospective employer. Which job search document can Mandy use to input all these details? A. résumé B. cover letter C. application D. career portfolio
Answer:
Career portfolio I think
Explanation:
Tell me if I am wrong please.
Besides advertising new products and services, commercial photography also ____________ a. documents fashion trends at different times in history. b. allows for many artists to work who might otherwise be unemployed. c. encourages the use of new and innovative techniques in photography. d. accomplishes all of the above.
Answer:
A. Documents fashion trends at different times in history.
Besides advertising new products and services, commercial photography also documents fashion trends at different times in history. Option (a) is correct.
What do you mean by Artist?An artist is a person who uses deliberate talent and imaginative creativity to produce art (such as painting, sculpture, music, or writing).
Documents historical fashion trends, provides employment for many artists who might otherwise be unemployed, and promotes the use of cutting-edge photography techniques.
Highlight the benefits and distinctive qualities of a new product in your advertising to help it stand out to consumers. Price, quality, and service should all be emphasized, and you should also stress how the new product will benefit or be helpful to consumers.
Therefore, Option (a) is correct. Documents fashion trends at different times in history.
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when proving cash , cash balance is compared to _____.?
When proving cash, the cash balance is compared to the chequebook balance. Thus, option 'D' is the correct option.
What is cash balance?The sum of money that a business has on hand at the moment is called its cash balance. This cash is held in reserve to cover any unforeseen financial shortfalls. Without this financial safety net, companies could find themselves unable to cover their expenses. Normally, cash balances are put toward debt repayment or given as dividends to investors.
Cash balance = beginning cash balance + cash inflows – cash outflows.On the balance sheet, cash is categorized as a current asset, which causes it to rise on the debit side and decrease on the credit side. Due to the order of liquidity, cash will often be at the top of the current asset part of the balance sheet. Currency, bank accounts, and undeposited cheques are all considered cash on a balance sheet.
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Your older sister is planning on saving money by paying her bills, spending money on fun, and then saving whatever is leftover. Why is this not the best option for saving her money?
Answer:
spend money on bills first then food then save the leftover money for later
1. You deposit $5000 each year into an account earning 5% interest compounded annually. How much will you have in the account in 35 years?
$________
2. You deposit $400 each month into an account earning 7% interest compounded monthly.
a) How much will you have in the account in 20 years?
$______
b) How much total money will you put into the account?
$___________
c) How much total interest will you earn?
$_______________
3. You have $400,000 saved for retirement. Your account earns 7% interest. How much will you be able to pull out each month, if you want to be able to take withdrawals for 25 years?
$___________
PLEASE HELP ME IM STRUGGLING IN THIS PLEASE I DON'T WANT TO FAIL. LAST PERSON ANSWERED WRONG PLEASE HELPPP THANK YOU
1. You deposit $5000 each year into an account earning 5% interest compounded annually. How much will you have in the account in 35 years?
The formula for calculating the future value of an annuity is:FV = PMT × (((1 + r)n - 1) / r), where:FV = Future Value of the AnnuityPMT = Amount Deposited each Yearr = Interest Rate Per Periodn = Number of PeriodsFor the given problem, the amount deposited each year (PMT) is $5000, the interest rate (r) is 5% and the number of periods (n) is 35.
We need to calculate the future value (FV) of the annuity.So, we get:FV = $5000 × (((1 + 0.05)35 - 1) / 0.05)FV = $5000 × (((3.386) / 0.05))FV = $5000 × 67.72FV = $338,581.74Therefore, the amount in the account after 35 years will be $338,581.74. 2.
You have $400,000 saved for retirement. Your account earns 7% interest. How much will you be able to pull out each month, if you want to be able to take withdrawals for 25 years?To find out the amount you can withdraw each month, we can use the formula for Present Value of an Annuity, which is given as:PV = PMT x ((1 - (1 + r)-n) / r), where:PV = Present Value of Annuity
PMT = Amount of each paymentr = Interest rate per periodn = Number of periodsWe are given that the amount in the account is $400,000, the interest rate (r) is 7% and the number of periods (n) is 25 x 12 = 300 months. We need to calculate the amount that can be withdrawn each month (PMT).
So, we get:$400,000 = PMT x ((1 - (1 + 0.07)-300) / 0.07)Simplifying this equation gives:PMT = $400,000 / ((1 - (1 + 0.07)-300) / 0.07)PMT = $2,864.49Therefore, you will be able to withdraw $2,864.49 each month for 25 years.
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What is important to note about credit card companies advertising 0 percent APR?
Answer:
A 0% introductory purchase APR means you won't be charged interest on your purchases for a certain period of time as determined by your credit card company. ... A 0% introductory APR offer on balance transfers means you're not charged interest on a balance you transfer from another credit card.
Explanation:
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what is the difference between a sales return and a sales allowance?
Sales Return refers to the goods that were once sold by the company to the customers but for any reason, those customers are returning those goods to the company, so it is known as Sales Return.
On the other hand, a Sales Allowance is the reduction in the price of the product given by the seller to the buyer, to cover up some of the issues or damages faced by the buyer in the sold product.
Sales Return is considered to be the reduction in the total sales of the business, while the Sales Allowance is not considered in this way.
Sales Return can be negative, while Sales Allowance cannot be negative. Thus, this is the difference between Sales Return and Sales Allowance in the accounting terms.
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licensee gets asked by out-of-state party to manage 15 rental units. broker should:
The broker, upon receiving a request from an out-of-state party to manage 15 rental units, should carefully consider the legal and regulatory requirements of providing property management services in that particular state.
Property management is often subject to specific licensing and compliance regulations that vary from state to state. The broker should verify if they hold the necessary licenses or certifications to offer property management services in the out-of-state location. If they do not have the required credentials, they should refrain from providing management services directly.
Alternatively, the broker may consider partnering or collaborating with a licensed property management company in the respective state, allowing them to fulfill the request while maintaining compliance with local laws.
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What is collateral?
A. a finance charge
B. a specific type of home loan
C. an asset or group of assets that are linked to a loan
D. a down payment
Answer:
C. An asset or group of assets that are linked to a loan
Explanation:
Collateral is something the bank can take/repossess to sell and get back the money they loaned you if you don't repay your loan. Cars and houses are great examples of this.