Answer:
$26,600
Explanation:
Bad debts expense based on a percentage of credit sales requires an adjusting entry equal to the percentage of credit sales; no consideration is given to the ending balance of the allowance account when computing the adjustment.
The adjusting entry will include a credit to the Allowance for Doubtful Accounts account for $26,000 (or $650,000 x .04).
Note, however, that this question asks for the ending balance in the allowance account.
Since there is a $600 credit balance prior to adjustment, the balance in the allowance account after adjustment will be $26,600
(the credit balance of $600 + a credit of $26,000 will yield an ending credit balance of $26,600).
Answer:
D
Explanation:
they ban mandatory union memberships
Answer:
Texting has replaced many types of communication
Answer:
Explanation:
Here Nicolas will gain comparative advantage only when he is selling the good he is specializing in and he would specialize in that good which would have lower opportunity cost for him. So the first step that we have to do here is to find out for which good Nicolas will have lower opportunity cost.
For Nicolas who in 8 hours can either catch 24 pound of fish or repair 15 cars,
the opportunity cost for catching 1 fish is = 15/24 = .625
the opportunity cost for repairing 1 car is = 24/15 = 1.6
So from the above observation we can say that for Nicolas catching fish has lower opportunity cost for him , so he should specialize in catching fish.
Therefore the term of trade for Nicolas would be
1 fish = .625 cars ,
if he can catch and sell 100 units worth of fish then he would have to give up 62.5 cars and then only he will gain from trade,
1 x 100 fish = .625 x 100
100 fish = 62.5 cars.
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