Answer:
d. $1,000
Explanation:
Implicit cost is the cost which has been incurred, and cannot be avoided. It is best described as an opportunity cost that has been foregone, here the funds have been borrowed specially for coffee shop. Interest expense of $8,000 is the cost for such borrowing, also the amount withdrawn from savings account have been used for coffee shop but the interest income foregone is the opportunity cost = $50,000.00 
2% = $1,000 is implicit cost.
Therefore, correct option is d. $1,000
Answer:
Estimated Bad Debts = $ 9600
Explanation:
<u>Libre, Inc. </u>
Accounts Receivable $121,000
Allowance for Doubtful Accounts un adjusted $1,550 Credit
Net credit sales $192,000
The percentage of credit sales method, what is the estimated Bad Debt Expense for the year= 5% of $192,000 = $ 9600
Unadjusted balance Allowance for Doubtful Accounts $1,550 Credit
Less Current Year Bad Debts Balance = $ 9600
Adjustment= $ 8050
When using the percent of sales method the estimate of bad debts is the percentage multiplied with the credit sales .
Estimated Bad Debts = $ 9600
Answer:
The two methods or systems for determining the amount of merchandise inventory are:
the perpetual inventory system and periodic inventory system.
Explanation:
The perpetual inventory system requires that separate accounts be kept for Inventory and Cost of Goods Sold to enable a continuous or perpetual update of inventory transactions. This is unlike the periodic inventory system, where the update of inventory transactions are done periodically, and only the Inventory Purchase account is maintained for inventory transactions, with the Inventory balances and Cost of Goods Sold determined periodically.
The pdca cycle is a powerful approach for problem solving as it provides the foundation for teams to figure out ways to change and implement new ideas within their group setting and project or business. The PDCA stands for plan-do-check-act. In the planning stage your team will plan by determining what the problem is and what ways to fix it. In the do stage, your team will act on the ways you can solve the problem. In the check stage you are looking to check your work and see what worked and what needs to be changed. The final stage is the act stage which if you find solutions that work, implement them moving forward.
A document that purports to be an agreement but does not include all necessary terms is known as a void contract. Therefore, choice 3 is right.
<h3>What do you mean by a contract?</h3>
A contract is defined as a commitment to do something between two or more parties. A loan arrangement between automobile purchasers and sellers is an illustration of a contract.
An arrangement between two persons to get married is an example of a contract.
A formal contract that is effectively void and unenforceable from the moment it is created is known as a void contract.
Hence, the correct option is Void contract to be filled in given blank
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