Answer:
$14,300
Explanation:
Based on the information given we were told that the management of the company estimated that the amount in the uncollectible accounts will be the amount of $14,300 which means that the amount of $14,300 will be the balance of the Allowance for Bad Debts that should be reported on the company balance sheet.
Answer:
b. All collections for sales are received immediately upon making the sales.
Explanation:
Internal control, regarded as a process used in assuring objective of an organization in operational effectiveness as well as efficiency and reliable financial reporting, it is also used in assuring of compliance with laws as well as regulations and policies. Generally, internal control can be described as everything which is able to controls risks to an organization. It is a way the
resources of an organization are been
measured as well as been directed and monitored.
It should be noted that Internal control procedures for cash receipts require that:.
✓Custody over cash is kept separate from its recordkeeping.
✓Clerks having access to cash in a cash register should not have access to the register tape or file.
✓An employee with no access to cash receipts should compare the total cash recorded by the register with the record of cash receipts reported by the cashier.
✓Cash sales should be recorded on a cash register at the time of each sale
Because of the perceived downward sloping nature of a monopolist’s demand curve, the monopolist will charge a relatively low price at a<u> high level of output.</u>
<h3>What is demand curve?</h3>
Demand curve can be defined as a curve that help to show the relationship between the quantity of a product that is demanded and the price of the product at a specific period of time.
Hence, , the monopolist will charge a relatively low price at a high level of output based on the fact that in a situation where monopolist increases its output, he will tend to get a price.
Learn more about demand curve here:brainly.com/question/17166820
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Answer:
It is more profitable to raise the selling price by $2.
Explanation:
To determine whether the company should raise the selling price, we need to determine the effect on income. <u>The best option is the one with the higher sales revenue.</u>
Sales revenue= selling price * number of units
<u>Current:</u>
Sales revenue= 5.5*2,200= $12,100
<u>Proposal:</u>
Sales revenue= 7.5*1,800= $13,500
It is more profitable to raise the selling price by $2.
Answer:
Ending inventory = 64 units
Explanation:
Given:
Ending inventory for period 7 = 89 units
Forecast demand for period 7 = 120 units
Forecast demand for period 8 = 20 units
Customer order for period 8 = 25 units
MPS = 0 units
Computation:
Ending inventory = Ending inventory for last period + MPS - maximum from (Forecast demand for Current period ,Customer order for current period)
Ending inventory = 89 units + 0 - maximum from (20 , 25)
Ending inventory = 89 units -25 units
Ending inventory = 64 units
