Answer:
Consider the following explanations
Explanation:
1). Balance of allowance for uncollectible accounts on 12/31/2021 is $66,500.
2). Journal entry for adjusting the allowance for uncollectible account is :
Here we already have $22,000 credit balance in allowace for uncollectible account and hence adjusting entry is of $44,500 which makes the ending balance of allowace for uncollectible account to $66,500 credit.
3). Net account receivable balance on 12/31/2021:
Accounts receivables total = $520,000
Less: Allowance for uncollectible account = $66,500
Net Account Receivables = $453,500
Answer:
Wage Replacement Ratio = $53,000 / $100,000 = 53%
Explanation:
Total Mortgages = $1,500 x 12 = $18,000
Dollar Value Percentage
Salary $100,000 100%
Less: Self-Employment Taxes (11,000) (11%)
Less: Savings (18,000) (18%)
Less: Mortgage Payments (18,000) (18%)
$ 53,000 53%
Wage Replacement Ratio = $53,000 / $100,000 = 53%
Answer:
the wheat firm is perfectly competitive
A perfect competition is characterized by many buyers and sellers of homogenous goods and services. Market prices are set by the forces of demand and supply. There are no barriers to entry or exit of firms into the industry.
In the long run, firms earn zero economic profit. If in the short run firms are earning economic profit, in the long run firms would enter into the industry. This would drive economic profit to zero.
Also, if in the short run, firms are earning economic loss, in the long run, firms would exit the industry until economic profit falls to zero.
he is a price taker and the price of his wheat which would be equal to equilibrium price would be determined by market forces
if he sells at the market price, he would sell all his wheat
Explanation:
If the uncle sells above equilibrium price, he would not sell any wheat
he cannot sell below equilibrium price because he would make losses
Answer
An economist engineer suggest that the 21st century has seen rise in number of online market and platforms that offer competition to the traditional ways of trade
Explanation
Let's take a look at eBay, Airbnb and Uber which are all marketing platforms where customers can acquire services and goods with just click of the phone button. Goods and services are currently offered for users provided they have access to internet connection with a good gadget. Economist engineers explain the need to understand the manner these markets are designed with more concern on mathematical models and techniques.
2,000×((((1+0.08÷4)^(4×15)
−1)÷(0.08÷4))×(1+0.08÷4))
=232,665.14
