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maxonik [38]
2 years ago
12

ASAP!!!!!!!!!!1

Business
1 answer:
barxatty [35]2 years ago
4 0

<u>Answer:</u>

<em>Elastic</em>

<u>Explanation:</u>

Price Elasticity of Demand (PED) is a method in economics which shows the demand quantity of a good or service, in response to a change in its price. PED is a percentage change in quantity demanded, when the price changes by one percent.

The demand is said to be inelastic for a good or service when the PED is less than 1. When it is greater than 1, then the demand is said to be elastic.

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The Mighty Power Tool Company has the following accounts on its​ books: Customer Amount Owed​ ($) Age​ (days) ABC ​$47 comma 150
frez [133]

Answer:

Accounts receivable more than 60 days = $39,500

% of accounts receivable = 11.07%

Explanation:

The following table shows the aging schedule-

Customer    Amount Owed​ ($) Age​ (days)

ABC               ​$47,150                   32

DEF                 37,500                     7

GHI                  18,900                   14

KLM                72,000                   28

NOP                 41,450                   43

QRS                 16,000                    11

TUV                84,300                   58

WXY               39,500                   75

We have to develop a schedule with a 15 days incremental through 60 days. And we show which customers are falling in that category -

0-15   (DEF + GHI + QRS) = $(37,500 + 18,900 + 16,000) = $72,400

16-30 (KLM) = $72,000

31-45 (ABC + NOP) = $(47,150 + 41,450) = $88,600

46-60 (TUV) = $84,300

Over 60 (WXY) = $39,500

Accounts receivable more than 60 days = $39,500

Percentage of Accounts receivable = \frac{39,500}{72,400+72,000+88,600+84,300+39,500}

= 11.07%

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Answer:

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