Given the market for illegal drugs, when the government is successful in reducing the flow of drugs into the united states,

Problems and Applications Q2 Your aunt is thinking about opening a hardware store. She estimates that it would cost $500,000 per

kari74 [83]

Answer:

$550,000

Explanation:

Based on the information given the OPPORTUNITY COST OF RUNNING THE HARDWARE STORE will be $550,000 ($500,000+$50,000), which include the amount of $500,000 which is the cost of renting the store as well as to the cost to buy the stock while the $50,000 is her salary as an Accountant, reason been that she would QUIT HER JOB as an accountant in order for her to run the store.

Therefore the OPPORTUNITY COST will be $550,000

3 0

3 years ago

Goals and objectives should be set ________.Multiple Choiceat the beginning of marketing planningat the end of the situation ana

storchak [24]

Answer:

Option D. After completion of market research, situation analysis, and competitor analysis

Explanation:

The reason is that the company always sets objectives and goals when it analyzes the business environment, the way competitor would react, product demand, etc and all these things come from market research, situation analysis, competitor analysis, position analysis, capability analysis, etc. This gives a clear picture where the organization must head towards. So after completion of these analysis and research, company is able to set goals.

Always remember that the company sets its goals before marketing planning (Option A) and after situation analysis (Option B) because it helps define what number of sales we need which formulates the marketing planning.

Option C is incorrect because strategies are set after the objectives and goals are set because the strategies are always alligned with the objectives and goals.

Option E is incorrect because Goals and Objectives are set always after the SWOT and PESTLE analysis not during these studies.

Here the only only option with broader meaning is option D which also includes the Option A and Option B.

3 0

3 years ago

Brown Cow Dairy uses the aging approach to estimate bad debt expense. The ending balance of each account receivable is aged on t

Gnesinka [82]

Answer:

1a. Dec-31

Dr Allowance for doubtful accounts $780

Accounts receivable (Patty's Bake Shop) Cr $780

1b . Dec-31

Dr Bad debt expense $1,000

Cr Allowance for doubtful accounts $1,000

2a. Bad debt expense $1,000

2b. Doubtful accounts $25,170

Explanation:

1. Preparation of the journal entries

First step is to adjust for estimated bad debt expense for current year

Aged Accounts Receivable Estimated Percentage Uncollectible Estimated Amount Uncollectible

Not yet due 19,000* 2%= $380

Up to 120 days past due 5,000*11%=$550

Over 120 days past due 3,000*30%=$900

Estimated balance in allowance for Doubtful Accounts $1,830

Less Current balance in allowance for Doubtful Accounts ($830)

Bad Debt Expense for the year $1,000

($1,830-$830)

Now let prepare the Journal entry:

1a. Dec-31

Dr Allowance for doubtful accounts $780

Accounts receivable (Patty's Bake Shop) Cr $780

(To record Write off accounts receivable)

1b. Dec-31

Dr Bad debt expense $1,000

Cr Allowance for doubtful accounts $1,000

(To record allowance of doubtful account)

2aCalculation to Show how the amounts related Bad Debt Expense would be reported on the income statement and balance sheet for the current year.

BROWN COW DAIRY COMPANY

Income Statement (Partial)

As of December 31

Operating expenses:

Bad debt expense $1,000

2b. Calculation to Show how the amounts related to Accounts Receivable would be reported on the income statement and balance sheet for the current year.

BROWN COW DAIRY COMPANY

Balance Sheet (Partial)

As of December 31

Current assets:

Accounts receivable (Patty's Bake Shop) $27,000

(Less)Allowance for doubtful accounts ($1,830)

Accounts receivable, net of allowance for Doubtful accounts $25,170

Accounts receivable =$ 19,000+$5,000+$3,000 Accounts receivable =$27,000

Allowance for doubtful accounts = $380+$550+$900

Allowance for doubtful accounts = $1,830

Therefore the amounts related to Accounts Receivable and Bad Debt Expense that would be reported on the income statement and balance sheet for the current year will be :

Bad debt expense $1,000

Doubtful accounts $25,170

3 0

3 years ago

You were recently selected for an important 2-year overseas assignment in Qatar. This is a big career opportunity and a chance t

Ierofanga [76]

Answer:

Create a list of the things that you found to be different than what you expected during your visit and plan some strategies for adjusting to these differences.

Explanation:

This will help in planning and adjusting better and be careful.

Consider other option like 'focus your efforts on closing out all of your remaining projects and commitments related to your current position to get ready for your overseas assignment' is not related with any cultural adjustment. Which according to the exercise is the most effective aproach to solve the problem.

8 0

3 years ago

Rembrandt Paint Company had the following income statement items for the year ended December 31, 2021 ($ in thousands): Sales re

Ugo [173]

Answer:

<h2> Rembrandt Paint Company</h2><h2>Income Statement - December 31, 2021</h2>

Sales revenues $24,000,000

- Cost of goods sold <u> ($13,500,000)</u>

Gross margin $10,500,000

Operating expenses:

- Selling and adm. expenses ($420,000)

- Restructuring costs ($1,400,000)

Total operating expenses <u>($1,820,000)</u>

Income from operations $8,620,000

Other revenue and expenses:

Gain on sales of assets $3,200,000

Interest revenue $220,000

Loss from discontinued oper. ($2,200,000)

Interest expense ($420,000)

Total other revenue and expenses <u>$800,000</u>

Net income pre-tax $9,420,000

Income taxes (25%) <u>($2,355,000)</u>

Net income after taxes $7,065,000

Shares outstanding 600,000

Earnings per share (EPS) $11.78

3 0

3 years ago