Answer:
amount of Bad Debt Expense for 2019 = $92,000
Explanation:
A bad debt expense is a uncollectible receivable amount incurred on a credit sale to a customer, who is no longer able to pay the debt, due to bankruptcy or other financial problems. Companies make provision for these kind of credit losses in the allowance for doubtful accounts, and hence records the amount used from the allowance for doubtful accounts as the bad debt expense.
In our example, the allowance for doubtful account for 2019 is $92,000, hence since it was used to settle part of the credit losses, this becomes the bad debt expense.
Answer:
The selling price is $99
Explanation:
The selling price of the product can be computed by adding required profit margin to the unit cost of the product.The required profit margin is the 10% return on invested assets.
Total variable cost $59*10000 =$590,000
Fixed expenses ($180,000+$60,000) =$240,000
desired profit margin(10%*$600,000) =$60,000
Total sales revenue =$990,0000
price per unit=$990,000/10000=$99
The cost-plus approach to product pricing gives $99
Solution :
At every stage the formula used will be :
After the junior year, Aunt Mabel's bank balance will be :
= $ 7,322.65
Aunt Mabel's bank balance after sophomore year will be :
7,322.65 + 1000 = $ 8,322.65
= $ 8060.677
After the freshman year, bank balance of Aunt Mable's will be :
8060.677 + 6000 = $ 14,060.677
= $ 14.0606
If Aunt Mabel can predict the interest rate with accuracy, she will have to deposit :
$ 14.0606 + $ 9000 = $ 9,014.06
= $ 8,565.241
Earl has $310 dollars in his checking account
Answer:
B. Herbania is technologically superior to Duckistan in producing civilian goods.
Explanation:
Duckistan Production Possibilities
A B C D E
Civilian Goods 20 18 14 8 0
Military Goods 0 1 2 3 4
opportunity cost - ¹/₁₈ ¹/₇ ³/₈ 4 civilian goods
opportunity cost 20 18 7 2.7 - military goods
Herbania Production Possibilities
A B C D E
Civilian Goods 40 36 26 14 0
Military Goods 0 1 2 3 4
opportunity cost - ¹/₃₆ ¹/₁₃ ³/₁₄ 4 civilian goods
opportunity cost 40 36 13 4.7 - military goods
Herbania has an absolute advantage in the production of civilian goods. Since it also has a lower opportunity cost of producing civilian goods, therefore, it also has a comparative advantage at producing civilian goods. Assuming that resources are equal in both countries, then we can assume that Herbania is technologically superior in the production of civilian goods.
Dukistan has a lower opportunity cost of producing military goods, therefore, it has a comparative advantage at producing military goods.
