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Vadim26 [7]
3 years ago
8

Using the percentage-of-receivables method for recording bad debt expense, estimated uncollectible accounts are $45,000. If the

balance of the Allowance for Doubtful Accounts is a $6,000 debit before adjustment, what is the balance after adjustment?
Business
1 answer:
viva [34]3 years ago
4 0

Answer:

balanced after adjustment  $39,000

Explanation:

GIVEN DATA:

uncollectible accounts is $45,000

allowance balance = $6000

The bad debt account is the difference between the calculated ledger balance and actual ledger balanced.

balanced after adjustment can be determined by suing following relation:

Bad debt expense = uncollectible accounts - balance of the Allowance

= $45000 - $6000

= $39,000

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Wyandotte Chemical Company sells various chemicals to the automobile industry. Wyandotte currently sells 30,000 gallons of polyo
JulijaS [17]

Answer:

a.–7.5% or -0.075

bi.$35,321

bii.$8,271

biii.$27,050

Explanation:

Wyandotte Chemical Company

a.

ED = %ΔQD / %ΔP

–2.0 = 15% / %ΔP. (15% more sales)

%ΔP = 15% / -2.0

%ΔP = –7.5% or -0.075

b.

Using the arc price formula, the new price will be:

%ΔP = P2 – P1/ [(P2+ P1)/2]

–0.075 = (P2– 15.00)/ [(P2+ 15)/2] -0.075P2– 1.125 = 2P2– 30

-2.075P2= -28.875

P2= $13.92

ΔP = $15 –$13.92 = $1.08

Finding new quantity using the arc price formula:

%ΔQ = Q2 – Q1/ [(Q2+ Q1)/2]

0.15 = (Q2– 30,000)/ [(Q2+ 30,000)/2]

Q2= 34,865 gallons (QUANTITY SOLD)

Therefore impact of the price cut on the following are:

i). On Total Revenue:

TR = P · Q

Before cut price: TR1, = 15(30,000) = $450,000

After cut price: TR2= 13.92(34,865)

= $485,321,

Consequently, ΔTR = $35,321 (change in total revenue)

ii). On Total Cost: we first find the FC and VCBefore price cut:

FC1=$90,000

After price cut: FC2= $90,000

VC per unit = $6.00 – 0.60 = $5.40

VC2= $5.40 × 34,865 = $188,271

TC2= FC + VC = 90,000 + 188,271 = $278,271

ΔTC = $8,271 (change in total cost)

iii). On Total Profits (π):

Before price cut: π, = $450,000 – $270,000 = $180,000

After price cut: π2= $485,321 – $278,271 = $207,050

(ΔTR - ΔTC = Δπ: $35,321 - $8,271 = 27,050)

4 0
3 years ago
According to the textbook, globalization involves international exchange. included in this exchange is trade in goods and servic
Bogdan [553]
I think it might be C, I'm not sure but I think it is.

Hope this helped. Have a great day! :D
8 0
3 years ago
Describe the slope of the demand curve? How does the slope reflect the law of demand?
AnnZ [28]

Answer:

<u></u>

  • <u>1. The slope is negative</u>
  • <u>2. The demand decreases when the prices increase.</u>

Explanation:

<em>Describe the slope of the demand curve?</em>

<em>The slope of the demand curve</em> is negative.

The demand curve is graphed on a coordinate plane with the price in the horizontal axis (typically the x-axis) and the demand on the vertical axis (y-axis).

Thus, the slope will be the rate of change of the demand over the change on the price.

Mathematically:

           slope=\dfrac{\text{change in demand}}{\text{change in price}}

Since, as you move from left to right, on the x-axis, the prices increase, and the demand (on the y-axis) lowers, the change in demand is negative and the change in the prices is positive, resulting in a negative slope.

This is seen graphycally because the demand curve is decreasing (downward-sloping).

<em>How does the slope reflect the law of demand?</em>

The slope reflects perfectly <em>the law of demand</em> because the law of demand states that, since the resources are scarce, when the prices incrases the quantities demanded decrease.

8 0
2 years ago
how might a recent college graduate's investment portfolio differ from someone who is nearing retirement?​
iren [92.7K]

Answer:

A recent college graduate's investment portfolio will differ from someone who is nearing retirement due to the length of time someone who is at the end of their career has had to invest whereas someone who is a recent college graduate hasn't had the time/money to invest

Explanation:

4 0
3 years ago
Assets are 300,000 and equity is 100,000, assets increase 80,000 liabilities increase 50,000. what is equity at year end?
mojhsa [17]
<span>Assets - equity = liabilities
  So liability before the increase is:
 300, 000 - 100, 000 = 200, 000
 And if assets increases by 80, 000. Hence new assets = 380, 000. Liabilities increases by 50, 000; hence new liability = 250, 000.
 New Equity = New Assets - New liability.
 New Equity = 380, 000 - 250, 000 = 130, 000.</span>
6 0
3 years ago
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