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sashaice [31]
3 years ago
13

Using the percentage of receivables method for recording bad debts expense, estimated uncollectible accounts are $10,000. if the

balance of the allowance for doubtful accounts is $2,000 credit before adjustment, what is the amount of bad debt expense for that period?
Business
1 answer:
Alinara [238K]3 years ago
3 0

The bad debt expense = Estimated noncollectable - allowance for doubtful accounts

The bade debt expense for that period = 10,000-2,000 = $8,000

You might be interested in
You founded your own firm three years ago. You initially contributed $200,000 of your own money and in return you received 2 mil
Aneli [31]

Answer:

$5 million

Explanation:

Calculation for the post-money valuation of your shares

First step is to calculate the total shares outstanding after the venture capitalist's investment:

Total shares = 2 million shares + 1 million shares + 4 million shares

Total shares = 7 million shares

Second step is to calculate the Amount paid by venture capitalist

Using this formula

Amount paid by venture capitalist = Total value / Number of shares purchased

Let plug in the formula

Amount paid by venture capitalist = $5 million / 4 million shares

Amount paid by venture capitalist = $1.25 per share

Last step is to calculate the post-money valuation

Using this formula

Post-money valuation = Amount paid by venture capitalist * Shares subscribed

Let plug in the formula

Post-money valuation = $1.25 * 4 million shares

Post-money valuation = $5 million

Therefore After the venture capitalist's investment, the post-money valuation of your shares is closest to$5 million

5 0
3 years ago
Which of these statements is false? A company comparison should not be made with industry averages if the company does not clear
ValentinkaMS [17]

Answer:

A company comparison should not be made with industry averages if the company does not clearly fit into any one industry.

Explanation:

In Business management, it is important to note that many companies will not clearly fit into any one industry.

Hence, when using industry averages, it is often necessary to use an industry that the firm best fits rather than randomly picking up any industry. Additionally, the analysis of an organization's financial statements would be more meaningful if the results are compared with industry averages and with results of competitors.

Any financial service sought after, should use its best judgment by analyzing and identifying which industry the firm best fits.

5 0
3 years ago
Too little money makes prices fall, which is bad. But printing more money, when there isn't more production, makes prices rise,
jeyben [28]

Determining how much money to print is a complex process that requires balance.

Answer: Option A.

<u>Explanation:</u>

Economics is the study of the economy and the processes that the economy is involved into which include the production, the consumption, and the distribution of the goods and the services in the economy.

It is related and the study of the activities which are related to money. Thus it is the related with the growth and development of the economy. So the study of economy is a very complex study and there should be a proper balance maintained in it.

8 0
4 years ago
If a regulatory commission imposes upon a nondiscriminating natural monopoly a price that is equal to marginal cost and below av
denpristay [2]

Answer:

The correct answer is letter "D": The firm must be subsidized or it will go bankrupt.

Explanation:

A subsidy is a benefit given to an individual, business or institution, typically by the government. Subsidies are given to promote a social good or economic policy. The government usually provides subsidies in the form of cash or tax breaks, low-rate loans, and certain types of rebates.

In the example, as the commission sets the price of the monopoly products below the average total cost, it will be translated in losses. Then, a subsidy will be necessary to be provided otherwise the company will file for bankruptcy.

3 0
3 years ago
When every good or service is produced up to the point where the last unit provides a marginal benefit to society equal to the m
Lelu [443]

Answer:

<u>Allocative efficiency </u>

Explanation:

Marginal benefit refers to the extra satisfaction derived from purchase of an extra unit of a good or a service.

Marginal cost refers to the extra cost incurred when an additional unit of a good or a service is produced.

When marginal cost is equal to the marginal benefit, it is the most efficient situation wherein optimal blend of commodities is produced.

Allocative efficiency refers to producers providing that blend of goods which are most desired by the society at the optimal level of production.

3 0
3 years ago
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