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Alja [10]
3 years ago
14

MICROECONOMICS Assignment. ANYONE WHO CAN COMPLETE THIS OR HELP ME WITH HOW TO DO IT ON MY OWN. It would be greatly appreciated.

Business
1 answer:
Vinil7 [7]3 years ago
4 0

So this question is too complicated for a forum like this to answer all parts.

I can help with a few of the first ones.

A. To figure opportunity costs, you find the ratio between producing all wine versus producing all butter.

In this case Germany: if Germany only produces wine they make 300 units. If they only make butter they make 1200 units. So the opportunity costs would be 1200/300 or 4. For every one unit of wine, you give up 4 units of butter.

B. Absolute advantage is the country the can produce the most units overall.

C. Comparative advantage is the country that has the capability of producing the most of one specific product. I.E. who can produce the most butter or wine.

D. I cannot draw that here.

E. I would rethink the answer on your sheet. Think about the above example of opportunity cost. Is it worth Tom Brady giving up time thinking about football to mow his lawn? How much opportunity cost would be there?

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Answer:

What is allowance for doubtful debt?

This represents management's estimate of the amount of accounts receivable that will not be paid by customers. They are amount owed by debtors, whose likelihood of collection is not certain.

1 Bad debts expense Dr   ($18,000 × 0.25%)  $45  

              To Allowance for Doubtful Accounts $45

(Being the bad debt expense is recorded)

2.  Bad debts expense $45        

          ($72 - $27)

              To Allowance for Doubtful Accounts   $45

(Being the bad debt expense is recorded)

3 Bad debts expense    $105      

           ($72 + $33)

           To Allowance for Doubtful Accounts $105

(Being the bad debt expense is recorded)

4 Allowance for Doubtful Accounts $15  

           To Accounts Receivable  $15

(Being the allowance for doubtful accounts is recorded)

Learn more about allowance for doubtful debts here : brainly.com/question/25687295

Explanation:

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2 years ago
Prepare journal entries for each transaction listed. (If no entry is required for a transaction/event, select "No Journal Entry
AysviL [449]

Answer:

The journal entries are shown below:

Explanation:

According to the scenario, the journal entries for the given data are as follows:

(1). Jun.30   Bad Debt expense A/c Dr $12,800

                   To Allowance for Doubtful A/c $12,800

                    (Being the bad debt expense is recorded)

(2). July       Allowance for Doubtful A/c Dr $6,400

                   To Accounts Receivable A/c $6,400

                    (Being the customer balance written off is recorded)

7 0
3 years ago
What, if anything, should you do to correct the following sentence?
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3 years ago
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Accounts Randall Company estimates its bad debts expense by aging its accounts receivable and applying percentages to various ag
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Answer:

Explanation:

The journal entry will be:

Debit: Bad debt expense $2500

Credit: Allowance for doubtful $2500

Then, we will calculate the net amount of account receivable that should be included in current assets which will be:

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