When a bad debt is written off, the thing that should be fine is an entry to reinstate the account receivable and and entry to record payment.
<h3>What is a bad debt?</h3>
A bad debt simply means an uncollectible account expense that's unlikely to be paid by a debtor.
When an account previously written off is collected in full, to ensure the accounting for the complete payment history of the customer, it's important to reinstate the account receivable and and entry to record payment.
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Answer:
$312.5 million
Explanation:
Given that,
Besnier Company's sales last year = $250 million
Fixed assets last year = $75 million
Previous operating capacity of fixed assets = 80%
Sales at full capacity:
= Previous sales ÷ Previous Capacity
= $250 million ÷ 80%
= $312.5 million
Therefore, if the company had operated at full capacity then the sales could have been $312.5 million.
Answer:
But if they both work together in a way that Alpha produces only apples Beta produces only oranges then they would benefit from trade.
Explanation:
Then alpha should produce only 9 apples an hour, while Beta can produce either 16 oranges or 4 apples an hour.
If Alpha produces oranges there will be a loss because he produces less oranges. But Beta 's choice will not affect the trade.
There are no incentives for Beta to specialize and trade with Alpha.
But if they both work together in a way that Alpha produces only apples Beta produces only oranges then they would benefit from trade.
Answer:
The equilibrium price of corn syrup will fall. The change in equilibrium quantity will depend upon the extent of change in demand and supply.
Explanation:
Corn syrup and maple syrup are substitutes.
News of health benefits from maple has increased the demand for maple syrup and decreased the demand for corn syrup.
The demand curve for corn syrup will move to the left.
Meanwhile, the government has subsidized corn crops. This will cause the price of corn to fall. As the input price declines the cost of producing corn syrup will decline as well. The firms will be able to provide more at the same cost.
This will cause the supply to increase. As the supply curve moves to the right. The equilibrium price of corn syrup will fall. The change in equilibrium quantity will depend upon the extent of change in demand and supply.
