9. When paraphrasing, which of the following must a student do:

On January 1, Year 2, Grande Company had a $63,400 balance in the Accounts Receivable account and a $1,300 balance in the Allowa

irinina [24]

Answer:

$1,520

Explanation:

Given that,

Accounts Receivable balance = $63,400

Allowance for Doubtful Accounts balance = $1,300

Services provided on account during year 2 = $152,000

Cash collected from accounts receivables = $161,300

Estimated Uncollectible accounts = 1% of sales on account

Therefore, the amount of uncollectible accounts expense during the year 2 is the 1 percent of the amount of services provided on account to a customer.

Hence, the amount of uncollectible accounts expense recognized on the Year 2 income statement is calculated as follows:

= Services provided on account × Estimated Uncollectible accounts

= $152,000 × 1%

= $1,520

5 0

3 years ago

A pharmaceutical company in 2016 is researching the market conditions for their newest cold medicine. They pull demographic data

Schach [20]

Answer:

Secondary data technique is not perfect for marketing research

Explanation:

The secondary method is useful, as it is difficult to perform or conduct a new survey. More, importantly using secondary data technique in marketing research is not an ideal method, because the data may be inaccurate or outdated. The pharmaceutical company was performing marketing research, and usually, the availability of new marketing data is challenging to get from secondary sources.

5 0

3 years ago

A production possibilities frontier with a bowed-outward shape indicates a. increasing opportunity costs as more and more of one

Arada [10]

Answer:

a. increasing opportunity costs as more and more of one good is produced

Explanation:

A production possibility frontier is a curve that shows the two combinations of goods an economy can produce given that its resocurces are fully employed.

The production possibility curves is bowed outwards because of increasing opportunity costs as more and more of one good is produced.

If more of one good is to be produced, more of the second good would be given up to increase the production of the first good.

The attached image is the graph of a production possibility frontier. At point A, the maximum amount of good X is produced with zero quantity of good Y. To increase production of good Y and move to point B, some quantities of good X would be given up. To further increase the production of good Y and move to point C, even more quantities of good X would be given up.

I hope my answer helps you

3 0

3 years ago

Oriole Company purchased equipment for $41600. Sales tax on the purchase was $2496. Other costs incurred were freight charges of

Aleksandr [31]

Answer:

The cost of the equipment is <u>$45,416</u>.

Explanation:

The cost of a newly purchased equipment is the addition of all relevant costs uncured in order to make the equipment ready for use.

The cost of the equipment includes costs such as purchase price, tax paid on the purchase, installation costs, etc.

However, any cost incurred to repair any damage to an equipment during installation is not part of equipment cost. Such repair costs are just ordinary expenses that are charged to the income statement during the period.

Based on the explanation above, the cost of the equipment by Oriole Company can be calculated as follows:

Equipment cost = Purchase price + Sales tax + Freight charges + Installation costs ..................... (1)

Since,

Purchase price = $41,600

Sales tax on the purchase = $2.496.

Freight charges = $624

Installation costs = $696.

Substituting the values into equation (1), we have:

Equipment cost = $41,600 + $2,496 + $624 + $696 = $45,416

Therefore, the cost of the equipment is <u>$45,416</u>.

5 0

3 years ago

Beneficiaries are responsible for of prescription costs

Oksi-84 [34.3K]

Answer:

In general, beneficiaries are responsible for paying the following for a Medicare Prescription Drug Plan:

Monthly premiums

Annual deductible

Copayments or coinsurance

A small copayment for the rest of the calendar year after they reach a certain out-of-pocket amount

Explanation:

6 0

2 years ago