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arsen [322]
3 years ago
14

John​ Smith, a factory worker at an automobile plant in the city​ Detrigan, makes​ $25 per hour. His​ dad, Larry Smith who retir

ed from a plant in the same city ten years​ back, was earning an average of​ $10 per hour at the time of retirement. Looking at the​ CPI, John concludes that a factory​ worker's purchasing power is lower now compared to ten years ago.​ Larry, however, does not agree that purchasing power has fallen. According to​ him, this conclusion cannot be drawn from such limited data. Which of the​ following, if​ true, would weaken​ Larry's claim that the purchasing power of an average factory worker has not​ fallen? A. The labor market in Detrigan has become more competitive over the last ten years. B. The level of unemployment in Detrigan is currently low compared to historical averages. C. Price levels have been increasing mainly due to the increase in the average disposable income in Detrigan. D. The total number of hours worked by an average factory worker has fallen over the years. E. A study shows that the average worker can buy a car with 45 weeks of his pay compared to 50​ weeks' pay ten years back.
Business
1 answer:
drek231 [11]3 years ago
5 0

Answer:

The total number of hours worked by an average factory worker has fallen over the years

Explanation:

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Answer:

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Support this statement using complete sentences: “Constructive criticism is offered in a way that encourages growth and learning
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Macroeconomics.

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2 years ago
Read 2 more answers
b. Prepare the adjusting entry to record Bad Debts Expense using the estimate from part a. Assume the unadjusted balance in the
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Question Completion:

Daley Company estimates uncollectible accounts using the allowance method at December 31. It prepared the following aging of receivables analysis.

                                                        Days Past Due  

                          Total          0          1 to 30       31 to 60   61 to 90  Over 90

Accounts

receivable  $570,000 $396,000  $90,000  $36,000   $18,000  $30,000  

Percent uncollectible          1%             2%             5%             7%           10%  

a. Complete the below table to calculate the estimated balance of Allowance for Doubtful Accounts using the aging of accounts receivable method.

Answer:

Daley Company

a. The estimated balance of Allowance for Doubtful Accounts using the aging of accounts receivable method is:

= $11,820.

b. Adjusting Journal Entry:

Debit Bad debts expense $6,420

Credit Allowance for Doubtful Accounts $6,420

To record bad debts expense and bring Allowance balance to $11,820.                      

c. Adjusting Journal Entry:

Debit Bad debts expense $13,720

Credit Allowance for Doubtful Accounts $13,720

To record bad debts expense and bring Allowance balance to $11,820.  

Explanation:

a) Data and Calculations:

Ageing of Accounts Receivable:

                                                        Days Past Due  

                          Total          0          1 to 30       31 to 60   61 to 90  Over 90

Accounts

receivable  $570,000 $396,000  $90,000  $36,000   $18,000  $30,000  

Percent uncollectible          1%             2%             5%             7%           10%

Allowance      $11,820     $3,960      $1,800     $1,800      $1,260    $3,000

Bad Debts Expense:

Allowance for Doubtful Accounts:

                                         b.                                 c.

Unadjusted balance $5,400 credit              $1,900 debit

Adjusted balance       11,820 credit               11,820 credit

Bad debts expense $6,420                       $13,720

8 0
3 years ago
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