1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
omeli [17]
2 years ago
15

During its first year of operations, Mack's Plumbing Supply Co. had sales of $6,740,000, wrote off $48,600 of accounts as uncoll

ectible using the direct write-off method, and reported net income of $712,500. Determine what the net income would have been if the allowance method had been used and the company estimated that 1% of sales would be uncollectible.
Business
1 answer:
BartSMP [9]2 years ago
6 0

The  net income that would have been if the allowance method had been used is:$696,200.

<h3>Net income</h3>

Using this formula

Net income=Net income+Accounts uncollectible-(Sales×Estimated sales rate)

Let plug in the formula

Net income=$715,000+$48,600-($6,740,000×1%)

Net income=$715,000+$48,600-$67,400

Net income=$696,200


Therefore The  net income that would have been if the allowance method had been used is:$696,200.

Learn more about net income here:brainly.com/question/15530787

#SPJ1

You might be interested in
What is a form of predictive analytics for marketing campaigns that attempts to identify target markets or people who could be c
Assoli18 [71]

The given statement belongs to "Uplift modelling" concept.

Explanation:

In analytical CRM Concept

Uplift modeling , customer segmentation and Website personalization are exist.

Uplift Modeling is an observational marketing method that forecasts the variance in the behaviour of consumers of a marketer's actions.

It splits the audience into groups that respond to the marketing camp against a control group based on the expected disparity.

3 0
3 years ago
An increase in interest rates affects aggregate demand by
skad [1K]

Answer:

Option (B) is correct.

Explanation:

When there is an increase in the interest rate then as a result this will shift the aggregate demand curve leftwards. This is because of the fall in one of the component of aggregate demand curve that is investment.

Increased interest rate will reduce the investment demand and hence shifts the aggregate demand curve rightwards. This increase in the interest rate will also increase the reserves of the banks.

When there is a leftward shift in the AD curve then as a result there is a fall in both real GDP and Price level in an economy.

5 0
4 years ago
In the early days of the game industry, nearly all games were developed by designers, for designers. More specifically, what age
suter [353]

Based on historical perspective, the age range of the early game designers is between <u>40 to 60years old.</u><u> </u>Also, the gender for which the games were being designed is <u>male</u>.

<h3>History of Game Designs.</h3>

The history of game designs can be traced to William Higinbotham, a Physicist who created the first video game in 1958 at the age of 48 years.

William Higinbotham created the first video game during the Brookhaven annual visitors day to lighten the exhibition show.

The video game he created was tennis, known as "Tennis for Two," and the men in attendance played it.

Hence, in this case, it is concluded that the game designers were <u>men</u>, and they are in the age range of <u>40 to 60 years</u>.

Learn more about the video game industry here: brainly.com/question/14468591

6 0
2 years ago
Which is an example of a mandatory deduction on a pay stub?
Grace [21]

Answer:

Some mandatory payroll tax deductions that employers are required by law to withhold from an employee's paycheck include: Federal income tax withholding. Social Security & Medicare taxes – also known as FICA taxes.

~Its srishty~✿

3 0
2 years ago
In an open-market operation, the Fed buys $10 million of government bonds from individual investors. If the required reserve rat
Fittoniya [83]

Answer:

$100 million ; $10 million

Explanation:

Required reserve ratio (r) = 10%

Worth of bond = $10,000,000

The smallest increase can be thought of as being the $10million generated from open market operation and could be held by the bank as reserve.

To calculate the largest increase in deposit:

Money multiplier * deposit (worth of bond)

Money multiplier = (1 / reserve ratio)

Money multiplier = (1 / 0.1) = 10

Increase in deposit = 10 * $10,000,000 = $100,000,000 ( $100 million)

6 0
3 years ago
Other questions:
  • The strategic alliance between Coca-Cola and Nestlé has spanned a period of over 20 years due to the fact that both companies be
    10·1 answer
  • On January 1, Applied Technologies Corporation (ATC) issued $550,000 in bonds that mature in 10 years. The bonds have a stated i
    7·1 answer
  • Types of imperfect competition
    15·1 answer
  • During 2019, its first year of operations, Bento Steel Corporation reported a net operating loss of $500,000 for financial repor
    7·1 answer
  • For each item below, indicate whether a debit or credit applies.
    5·1 answer
  • On August 31, 2018, the general ledger of The Dean Acting Academy shows a balance for cash of $7,904. Cash receipts yet to be de
    11·1 answer
  • For each of the following transactions for New Idea Corporation, give the accounting equation effects of the adjustments require
    5·1 answer
  • A company that produces pleasure boats has decided to expand one of its lines. Current facilities are insufficient to handle the
    8·1 answer
  • Real estate property taxes generally range from 1 to 4 percent of the value of the home.
    13·1 answer
  • Despite potential benefits the disadvantages of a matrix structure include which of the following
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!