Answer:
the largest firms account for industry output
Answer:
a. $125,000
Explanation:
Cost of goods sold
Beginning Finished inventory $30,600
Cost of goods manufactured $116,400
Goods available for sale $147000
Ending Finished inventory ($25,000)
Cost of goods sold $122000
Therefore, The cost of goods sold is closest to $125,000.
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Answer:
$5,800
Explanation:
Finish Co. uses the allowance method to account for bad debts. At the end of 2010,
Finish Co.'s un-adjusted trial balance shows an accounts receivable balance of $30,000;
allowance for doubtful accounts balance of $200 (credit);
and sales of $600,000.
Based on history, Finish estimates that bad debts will be 1% of sales.
The entry to record estimated bad debts will include a debit to Bad Debts Expense in the amount of:_______.
Total Bad debts at year end = 1% of Sales = 0.01 x 600,000 = $6,000
Amount of Allowance for Doubtful accounts = $200
Therefore the debit to Bad Debts Expense in the amount of $6000 - $200 = $5,800
Answer:
Entrepreneurs must know their market because the information is power in the business environment. An entrepreneur who has perfect information about their customer, competitors and suppliers will grow very fast.
Explanation: