Answer:
Dr. Bad debt expense. $11,200
---------To Allowance for doubtful accounts $11,200
Explanation:
Given that:
Accounts receivable balance = $280,000
Total credit sales = $2,810,000
5% of accounts receivables will be bad debt = $280,00 × 5% = $14,000
Credit balance allowance for doubtful account = $2,800 and it must increase to $14,000 I.e $14,000 - $2,800 = $11,200
Adjusting journal entry
Dr Bad debt expense $11,200
-------- Cr Allowance for doubtful accounts $11,200
Answer:
Related to Micro Economics : A, B, C, E.
Related to Macro Economics : D.
Explanation:
Micro Economics is the study of a single individual consumer, producer, industry. Eg - Price of a good
Macro Economics is the study of all consumers, producers, industries of the economy at a whole. Eg - General Price level.
Both Micro Economics and Macro Economics deal with aggregates. But:- Micro Economic aggregates have lower level of aggregation & are contextually less related to wide total, than Macro Economics.
<u>Micro Economics </u>: 'A student's decision about how to allocate his time between studying two subjects' ; 'A firm's decision on which production method to use' :- are related to single economic units.
'The effect of rent control on the housing market' ; 'The effect of externality on the quantity produced by the market' :- are related to only those particular industry markets & not to economy as a whole.
<u>Macro Economics </u>: 'The effect of an increase in income tax on national income' :- is an impact of country's government policy at its whole national income.
Answer:
It allows scientists from disparate regions to use a single standard in communicating scientific data without vocabulary confusion.
Explanation:
Answer: Hydroelectricity is a form of hydropower and is the most widely used form of renewable energy throughout the world. ... Hydro electricity extracted from water depends not only on the volume but on the difference in height between the source and the water's outflow.
Hope this helps...... Stay safe and have a Merry Christmas!!!!!!!! :D
Explanation:
Answer:
Mrs.Smith should continue to operate the business in the short run but shut down in the long run.
Explanation:
According to the shut down rule, at the profit-maximizing positive level of output, a business in a competitive market should continue to operate in the short-term if the price equals to or is greater than the average variable cost, but should shut down in the long term if the price is less than or equal to total cost. Here,
price = $8.10
avg variable cost = $8.00
avg total cost = $8.25
Mrs.Smith should continue to operate the business in the short run but shut down in the long run.
