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frosja888 [35]
3 years ago
5

The Allowance for Bad Debts account had a balance of $8,500 at the beginning of the year and $7,200 at the end of the year. Duri

ng the year (including the year-end adjustment), bad debts expense of $16,000 was recognized. The total amount of past-due accounts receivable that were written off as uncollectible during the year were:______
Business
1 answer:
aliya0001 [1]3 years ago
3 0

Answer:

The total amount of past-due accounts receivable that were written off as uncollectible during the year were: $17,300

Explanation:

The amount of past-due accounts receivable that were written off as uncollectible during the year are calculated by following formula:

Past-due accounts receivable that were written off as uncollectible = The Allowance for Bad Debts account had a balance at the beginning of the year + Bad debts expense was recognized - The Allowance for Bad Debts account had a balance at the end of the year = $8,500 + $16,000 - $7,200 = $17,300

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Brand managers know that increasing promotional budgets eventually result in diminishing returns. The first one million dollars
lilavasa [31]

Answer:

78%

Explanation:

Able has an awareness level of 78%.

Next year, it will lose a third of its awareness level.

78% * 1/3 = 26%

78% - 26% = 52%

So the base awareness level of able for next year will be 52%, however, even if the company reduced the promotion budget, it still has 1 million dollars to invest, and the question is telling us that 1 million in promotion investment results in a 26% increase in awareness, therefore

52% + 26% = 78%

Thus, after investing the 1 million dollars, Able's awareness level next year will be the same as the current year: 78%

4 0
3 years ago
Rock Adventures has 15 employees each working 40 hours per week and earning $30 an hour. Federal income taxes are withheld at 15
Maslowich

Answer:

the actual direct deposit payroll is $12,843

Explanation:

The computation of the actual direct deposit payroll is shown below;

= Total salary - withholdings

= (15 × 40 × $30) - Federal income tax - state income tax - FICA tax

= $18,000 - ($18,000 × 0.15) - ($18,000 × 0.06) - ($18,000 × 7.65%)

= $12,843

Hence, the actual direct deposit payroll is $12,843

Basically we applied the above formula

4 0
2 years ago
Why do neoclassical economists tend to put relatively more emphasis on long-term growth than on fighting recession?
Sphinxa [80]

Answer:

The correct answer is C. standard of living is ultimately determined by long-term growth.

Explanation:

The long-term path for economic growth is a fundamental issue of the study of the economy. The increase in the GDP of a country is usually considered as an increase in the standard of living of its inhabitants. Over long periods of time, even small annual growth rates, can have a significant effect. Thanks to its conjugation with other factors.

An annual growth rate of 2.5% would lead to GDP doubling over a period of 30 years. While an annual growth rate of 8%, it would lead to the same phenomenon in a period of only 10 years. Example: Some countries like Asian tigers. When a population increases to see improvements in living standards, GDP has to grow faster than that population. This analysis seeks to understand why there are very different rates of economic growth in some regions of the world.

8 0
3 years ago
Your division is considering two investment projects, each of which requires an up-front expenditure of $25 million. You estimat
Veseljchak [2.6K]

The answer is attached in form of text file below giving solution to each of the question parts in detail.

Download docx
7 0
3 years ago
Read 2 more answers
Deep Mining and Precious Metals are separate firms that are both considering a silver exploration project. Deep Mining is in the
Julli [10]

Answer:

Precious metals should accept the project

Explanation:

To determine which company should accept the project, one has to calculate the net present value.

The net present value is the present value of after tax cash flows from an investment less the amount invested.

NPV can be calculated using a financial calculator:

Cash flow in year 0 =

Cash flow each year from year one to ten =

For Deep Mining ,

I = 16.7%

NPV = $39,096.09

Precious Metals,

I = 12.6%

NPV = $83,144.67

Precious metals should accept the project because its npv is postive.

To find the NPV using a financial calacutor:

1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.

2. After inputting all the cash flows, press the NPV button, input the value for I, press enter and the arrow facing a downward direction.

3. Press compute

I hope my answer helps you

5 0
2 years ago
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