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Misha Larkins [42]
3 years ago
5

Reliable Enterprises sells distressed merchandise on extended credit terms. Collections on these sales are not reasonably assure

d, and bad debt losses cannot be reasonably predicted. It is unlikely that repossessed merchandise is in condition to be re-sold. Therefore, Reliable uses the cost recovery method. Merchandise costing $29,750 was sold for $57,000 in 2020. Collections on this sale were $19,200 in 2020, $14,300 in 2021, and $23,500 in 2022. In 2021, Reliable would recognize gross profit of:
Business
1 answer:
Mariana [72]3 years ago
3 0

Answer:

$3,750

Explanation:

The computation of reliable gross profit is given below :-

=  Sales of 2020 year + sale of  2021 years - Cost of Merchandise

= $19,200 + $14,300 - $29,750

= $33,500 - $29,750

= $3,750

Since we have to compute the gross profit of 2021 only so we did not take the collection of year 2022

So, the reliability of gross profit is $3,750.

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Patents discourage companies from committing themselves to extensive basic research.A. TrueB. False
djverab [1.8K]

Answer:

B. False

Explanation:

Patents may be defines as when a legal authority or permission granting a right for a given time, in particular exclusive and right to exclude others from the production, use, or sale of an invention.

Therefore the given statement is wrong as patents are not discouraging the organizations from carrying out to extensive primary research so, the correct answer is False.

8 0
4 years ago
BE16.11 (LO 4) Tomba Corporation had 300,000 shares of common stock outstanding on January 1, 2020. On May 1, Tomba issued 30,00
Butoxors [25]

Answer

1) Issued for Cash

Weighted Average number of shares at year end 330,000

b) Issued for Dividends

weighted Average number is 320,000

Explanation:

The Weighted average number  (assuming year end is 31 December)

300000 * 12/12 = 300000 full year

30000 = 30000

issued for dividends

Weighted average number

300000 * 12/12 = 300000 full year

30000 * 8/12 = 20000

total at year end 320000 shares

8 0
3 years ago
An economy is considered to be in a recession if: Group of answer choices A) it is moving from the trough to the peak of the bus
Vsevolod [243]

Answer:

B

Explanation:

Please give me brainly answer.

6 0
3 years ago
A cost that will not be affected by later decisions is termed a(n) a.period cost b.replacement cost c.differential cost d.sunk c
LenaWriter [7]

Answer:

Sunk cost

Explanation:

Sunk cost is cost that has already been incurred and cannot be recovered. It should not be considered when making future decisions

Differential cost refers is difference between the cost of two different decisions.

Replacement cost is a the cost incurred in replacing an essential asset.

4 0
3 years ago
GDP is not a perfect measure of well-being; for example, a. GDP incorporates a large number of non-market goods and services tha
Anna007 [38]

Answer:

c. GDP fails to account for the quality of the environment.

Explanation:

Gross domestic product is defined as the sum total of all goods and services produced in a country within a specific time.

It measures the level of wealth in the economy. However it is not a true reflection of personal well being of the citizens of a country because it does not consider the quality of the environment in which people live.

GDP only measures.activities in the market place but does not evaluate other factors like leisure, quality of the environment, health levels, and education.

8 0
3 years ago
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