Financial educators often recommend that individuals should:

The fed currently focuses monetary policy on the

kupik [55]

The fed currently focuses monetary policy on the ; Federal funds rate

7 0

3 years ago

Calistoga Produce estimates bad debt expense at 0.60% of credit sales. The company reported accounts receivable and allowance fo

liraira [26]

Answer: Calistoga's final balance in its allowance for uncollectible accounts at December 31, 2021 is $246.

Explanation: Calistoga Produce applies percentage of credit sales method to estimate its bad debt expense. So 0.60% of $331,000 (credit sales) = $1,986 and the balance in allowance for doubtful accounts is $1,520. The following journals would be recorded to adjust for the estimate:

Debit Bad debt expense $466

Credit Allowance for doubtful accounts $466

The $466 is the difference between $1,986 and $1,520

Now that the company writes off $1,740 accounts receivable, the following journal entries apply:

Debit Allowance for doubtful account $1,740

Credit Accounts receivable $1,740

In summary, the allowance account movement is as follows:

Opening balance $1,520

Additional bad debt expense 466

Write-off during the year (1,740)

Balance, end of the year $246

6 0

3 years ago

Companies typically like to design scorecards that fit their business and industry. As a result, there are software applications

olchik [2.2K]

Answer:

a. Performance dashboards

Explanation:

Based on the scenario being described within the question it can be said that these scorecard applications are often referred to as Performance Dashboards. These are a type of management tool that companies use in order to measure the company's performance and monitor/manage different processes in order to achieve business goals. These systems are many times offered by other companies and linked to a firm's enterprise software system for customized results.

7 0

3 years ago

Lakeland Consulting purchased computer equipment for $10,000. Lakeland made a $2,000 down payment with the balance due within 90

natta225 [31]

Answer:

Increase in assets of $8,000 and an increase in liabilities $8,000

Explanation:

The effect of the transaction is shown below with the help of the accounting equation

Liabilities + Owner equity = Assets

$8,000 + 0 = $8,000

($10,000 - $2,000)

Therefore from the above calculation, we can see that there is an increase in assets also there will be an increase in liabilities but no effect on stockholder equity

3 0

3 years ago

Assume that the United States has a comparative advantage in aircraft manufacture and India has a comparative advantage in produ

AlekseyPX

Answer:

1. Explain who in the United States would gain?

The government of the United States will gain from the Import duties that will be charged on the Indian textiles.

2. Who might lose from dismantling trade barriers between the United States and India?

The USA will lose if trade barriers are dismantled.

The United States will lose from dismantling trade barriers because the Indian textile will be massively imported in the country thereby crippling the growth of the local textile manufacturing companies in the United States. India has a comparative advantage over the USA in the manufacturing of textiles, which are in constant demand compared to that of the aircraft which are rarely demanded.

Explanation:

1. The government of the United States will gain from the Import duties that will be charged on the Indian textiles. The government will make huge revenues from the import duties since India will manufacture the textiles at the cheapest costs per unit and influx the USA with affordable and quality clothing.

2. The USA will lose if trade barriers are dismantled.

The United States will lose from dismantling trade barriers because the Indian textile will be massively imported in the country thereby crippling the growth of the local textile manufacturing companies in the United States. India has a comparative advantage over the USA in the manufacturing of textiles, which are in constant demand compared to that of the aircraft which are rarely demanded.

5 0

3 years ago