Answer:
the net account receivable is d. $93,000
Explanation:
The computation of the net account receivable is shown below:
= (Account receivable - written off amount) - (Allowance for doubtful accounts - written off amount)
= ($110,000 - $1,700) - ($17,000 - $1,700)
= $108,300 - $15,300
= $93,000
Hence, the net account receivable is $93,000
We simply applied the above formula so that the correct value could come
And, the same is to be considered
Answer:
295 units
Explanation:
The cost -volume-profits CVP concepts calculate the breakeven point by dividing fixed costs by the contribution margin per unit.
i.e., Breakeven point = Fixed cost/ contribution margin per unit.
For this company,
Fixed costs are $177,000
Contribution margin per unit
= selling price - variable costs.
=$1250 -$650
=$600
Breakeven point = $177,000 / $600
=295 units
Answer: Statement 1 ( Laptop) = Producer surplus
Statement 2 ( watch ) = Neither
Statement 3 ( jersey sweater) = Consumer surplus
Explanation:
Hi, Consumer surplus happens when the price that consumers pay for a product or service is less than the price they're willing to pay.
- <em>Even though I was willing to pay up to $46 for a jersey sweater, I bought a jersey sweater for only $39. </em>Consumer surplus
Producer surplus<em> </em> is measured as the difference between what producers are willing and able to supply a good for and the price they actually receive
-
<em> I sold a used laptop for $149, even though I was willing to go as low as $140
.</em>Producer surplus
- <em>I sold a watch for $59 on eBay last week. This week, someone offered me $145 for it. </em>neither
Feel free to ask for more if needed or if you did not understand something.
Answer:
$140,420
Explanation:
The demand function is q = -720p + 20,500.
The price is $17
q = -720 ($17) + 20500 = 8260
The quantity sold is 8260
Revenue = price × quantity sold
= $17 × 8260 = $140,420
Answer:
recognized on March 31 after the delivery of the equipment
Explanation:
Revenue is recognized once the recognition criteria is met. These criteria includes;
- the cost of the item sold can be measured reliably
- the items has been delivered or the service has been rendered
Given that the contract specified a delivery date of March 1.
The equipment was not delivered until March 31 and as such, the revenue for the contract should be recognized on March 31 after the delivery of the equipment.
