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
If supply-side policies succeed, less output is produced at every price level.
Sever21 [200]

Answer:

False

Explanation:

Supply-side policies aim at increasing productivity. The government outlines measures that promote the supply-side to achieve sustainable growth without causing inflation. The policies aim at enhancing the production capacity of an economy. They increase competition by improving the quantities and qualities of the factor of production.

Supply-side policies do not promote low levels of production.  They argue that an increase in production will result in a high demand for goods and services. An increase in demand will generate more employment opportunities and promote rapid economic growth.

5 0
4 years ago
Read 2 more answers
Identify the percent increase in sales of parkas and the percent increase in sales of raincoats. then find which percent of incr
Black_prince [1.1K]
Does anyone know the answer?
3 0
4 years ago
Read 2 more answers
Simone Company is considering the purchase of a new machine costing $50,000. It is expected to save $9,000 cash per year for 10
max2010maxim [7]

Answer:

At the rate of return of 18%, the purchase of the new machine is not convenient.

Explanation:

Giving the following information:

Simone Company is considering the purchase of a new machine costing $50,000. It is expected to save $9,000 cash per year for 10 years, has an estimated useful life of 10 years, and no salvage value. Management will not make any investment unless at least an 18% rate of return can be earned.

We need to find the net present value using the following formula:

NPV= -Io + ∑[Cf/(1+i)^n]

Cf= cash flow

NPV= -50,000 + 9,000/1.18 + 9,000/1.18^2 + 9,000/1.18^3 + ... + 9,000/1.18^10

NPV= -9,553

At the rate of return of 18%, the purchase of the new machine is not convenient. It will produce a loss in value.

4 0
3 years ago
The Academic Computing Center has five trainers available in its computer labs to provide training sessions to students. Assume
tia_tia [17]

Answer:

Total actual utilisation = 1,710 unit

Explanation:

Given:

Design capacity = 1,900 units

Effective capacity = 90%

Actual output = 1,500 units

Total utilisation = ?

Computation of Actual unit utilise:

Total actual utilisation = Design capacity x Effective capacity

Total actual utilisation = 1,900 x 90%

Total actual utilisation = 1,900 x 0.9

Total actual utilisation = 1,710 unit

8 0
3 years ago
​Morgan, a​ widow, recently passed away. The value of her assets at the time of death was ​$9 comma 647 comma 000. The cost of h
Bezzdna [24]

Answer:

Check the explanation

Explanation:

          Particulars                                                  Amount in $

A.  Gross Estate                                                      8600000

Less: deductions (funeral & administrative tax)    70000

B.  Taxable estate                                                   8530000

 

c.  Gift-Adjustable Taxable estate value:  

       Taxable estate                                                 8530000

Charities will be deucted from tax calculation      1000000

         gift-adjusted taxable estate value                  7530000

D.  estate would be subject to tax                         7530000

E.  estate tax liability Calculated below                 876000

 

For estate more than 53400000 tax will be charged at 40%  

So, same is 40% of excess on                       53400000  

Taxable estate before threshold after deducting 53400000 from estate that would be subject to Tax  2190000

Tax at 40% of excess value                           876000

 

8 0
4 years ago
Read 2 more answers
Other questions:
  • The first rule about choosing the right tool for the job is to choose a tool from reputable manufacturer.
    10·1 answer
  • The best way to treat a computer-based customer relationship management system is to consider it as a/an _______ system. A. back
    15·2 answers
  • 1-3. If you had to decide whether to continue making a component part or to begin buying the part from an overseas supplier, wha
    6·1 answer
  • On June 1, 2014, Puell Company acquired 100% of the stock of Sorrell Inc On this date, Puell had Retained Earnings of $100,000 a
    9·1 answer
  • 9 what is the first letter of a five-letter word meaning extra money paid at the end of a work period?
    6·1 answer
  • Materials Variances North Wind manufactures decorative weather vanes that have a standard materials cost of two pounds of raw ma
    12·2 answers
  • A broker is an agent who: Group of answer choices trades on the floor of an exchange for himself or herself. buys and sells from
    9·1 answer
  • Nuclear Inc. just paid a $2.75 dividend. Dividends are expected to grow by 30% in year 1, by 25% in year 2, and by 25% in year 3
    11·1 answer
  • Marketers competing on product attributes and image are said to be participating in:
    7·1 answer
  • Leon is a rock climbing enthusiast, and is considering getting a membership at a new rock climbing gym. today, leon climbs at a
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!