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4 years ago

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Allowance for doubtful accounts has a debit balance of $433 at the end of the year (before adjustment, and bad debt expense is e

stimated at 2% of net sales. if net sales are $549,230, the amount of the adjusting entry to record the estimate of the uncollectible accounts is

1 answer:

Debora [2.8K]4 years ago

4 0

I think that this question was asked by a bot made by brainly.

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Maria is the sole proprietor of an antique store that is located in a rented warehouse. The store has an outstanding loan with t

forsale [732]

Answer:

V. Sell any assets Maria personally owns and apply the proceeds to the store’s debt

Explanation:

A sole proprietorship refers to a business venture owned and managed by a single person. The owner makes all the key decisions regarding the business. He or she enjoys all the profits by himself but also suffers all the losses alone.

Legally, a sole proprietor and the business are treated as one entity. The law does not distinguish between the assets and liabilities of the business, with those of its owner. A sole proprietor does not enjoy the benefits of limited liability. Should Maria's business fail it repaying its obligations, her properties may be used in settling the debts.

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3 years ago

The normal selling price per unit of a product is $480, and its total cost per unit is $375. Using the total cost concept, calcu

Arisa [49]

Answer:

The markup per unit is $105

Explanation:

The computation of the markup per unit is shown below:

Markup per unit is

= Normal selling price per unit - total cost per unit

= $480 - $375

= $105

We simply deduct the normal selling price per unit from the total cost per unit so the markup per unit could come

Hence, the markup per unit is $105 and the same is to be considered

5 0

3 years ago

Ace Deliveries, a courier service provider, built a strong reputation over a short period of six months. Inundated with customer

marysya [2.9K]

Answer:

both revenue-oriented and operations-oriented

Explanation:

revenue-oriented pricing can be understood the strategic price level that the producers set to maximize the amount of profit they earn. As it can be seen from the given passage, the company starts noticing more about the earnings, so that they decided to cut down on the discount offering to the customers and set higher price. By that, it can help raise the revenue of the company.

Meanwhile, operations-oriented pricing is price strategy that the company adopts to optimize productive capacity as well as the efficiency of the manufacturing procedure. This is indicated in the actions of expanding fleet of vans and enlarge delivery networks of the company to raise the productivity.

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3 years ago

Barbara allows her comprehensive major medical plan to lapse. If her policy is reinstated on March 20th and she contracts mononu

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6 0

3 years ago

A homebuyer took out a $350,000 30-year fixed rate loan at 4.5% interest with a monthly payment of $1,773.40. After making two m

Wittaler [7]

The principal balance of the loan will have been reduced by a total of: a. $923.53.

<h3>Principal balance of loan</h3>

First step

First month's payment:

Annualized interest=$350,000 ×.045

Annualized interest = $15,750

First month's interest=$15,750/12

First month's interest= $1,312.50

First month's principal reduction=$1,773.40- $1,312.50

First month's principal reduction= $460.90

Remaining balance=$350,000 -$460.90

Remaining balance= $349,539.10

Second step

Second month's payment:

Annualized interest=$349,539.10 × .045

Annualized interest = $15,729.30

Second month's interest=$15,729.30/ 12

Second month's interest= $1,310.77

Second months principal reduction= $1,773.40 -$1,310.77

Second months principal reduction = $462.63

Third step

Total principal reduction after 2 payments=$460.90 + $462.63

Total principal reduction after 2 payments = $923.63

Therefore the correct option is A.

Learn more about Principal balance of loan here:brainly.com/question/27362459

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6 0

2 years ago