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Pachacha [2.7K]
3 years ago
7

The GDP deflator is a measure of the A. average level of prices of intermediate goods and services in the economy. B. total prod

uction of the economy unadjusted for inflation. C. total production of the economy adjusted for inflation. D. average level of prices of final goods and services in the economy.
Business
1 answer:
Alexeev081 [22]3 years ago
5 0

Answer:

D. average level of prices of final goods and services in the economy.

Explanation:

The GDP deflator is a measure of the average level of prices of final goods and services in the economy

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Mazie Supply Co. uses the percent of accounts receivable method. On December 31, it has outstanding accounts receivable of $49,0
natima [27]

Answer:

a. Dr Bad debt expense $1,617

Cr Allowance for doubtful debt $1,617

b. Dr Bad debt expense $2,205

Cr Allowance for doubtful debt $2,205

Explanation:

When a company makes sales on account, debit accounts receivable and credit sales. Based on assessment, some or all of the receivables may be uncollectible.  

To account for this, debit bad debit expense and credit allowance for doubtful debt. Should the debt become uncollectible (i.e go bad), debit allowance for doubtful debt and credit accounts receivable.

Estimated uncollectible amount

= 5% × $49,000

= $2,450

As such, if the allowance for doubtful;

has a $833 credit balance before the adjustment

Additional allowance required

=$2450 - $833

= $1,617

Entries required are

Dr Bad debt expense $1,617

Cr Allowance for doubtful debt $1,617

b) a $245 debit balance before the adjustment.

This means that off the amount uncollectible $245 has already gone bad

Adjusting entries required amounts to

= $2450 - $245

= $2205

Dr Bad debts expense $2205

Cr Allowance for doubtful debt $2205

7 0
3 years ago
The beginning inventory is 52,800 units. All of the units that were manufactured during the period and 52,800 units of the begin
Kazeer [188]

Answer:

a. As per the situation sales exceed production absorption costing income from operations is lesser than variable costing income from operations.

b. $776,160

Explanation:

a. As per the situation sales exceed production absorption costing income from operations is lesser than variable costing income from operations

b. Given that

Beginning inventory = 52,800

Fixed manufacturing costs = $14.70 per unit

Total Beginning inventory = Beginning inventory × Fixed manufacturing costs

= 52,800 × $14.70 per unit

= $776,160

5 0
3 years ago
The following information pertains to JAE Corp. at January 1, 2018:
son4ous [18]

Answer:

Issued shares =5000

Outstanding shares = 4700

Explanation:

Jan-1 Issued shares = 2000 shares

During year 3000 shares were issued.

a.) Outstanding shares =?

we know that Outstanding shares = issued stock -repurchased shares- treasury stock

                =   2000+3000-500+200

                = 4700 shares.

b.) Shares of common stock issued=?

     Number of issued shares = 2000+3000 = 5000 shares.

    Number of outstanding shares will always be less than issued shares.

8 0
3 years ago
When Mi Ola’s purchasing manager places the weekly order for new bikinis based on how many of each type have sold that week, thi
geniusboy [140]

Answer:

The process of making this decision By the CLASSICAL MODEL of decision making

Explanation:

The classical general equilibrium model was developed in the 18th century within the neoclassical economics and it is related to classical economics.

The classical general equilibrium model aims to describe the economy by taking an aggregate of the behavior of individuals and firms.

Decision taken using this Method is usually based on what the eyes are seeing. Facts.

From the text, Ola buys new bikinis weekly based on the designs the customers are buying more. He decides on what to buy for the new week by looking at the designs that his customers went for the previous week. This is a clear case of Classical model of Decision making.

5 0
3 years ago
Suppose two firms are in a game​ situation, and they each must decide on a strategy regarding whether to select a high price or
swat32

Answer: Both to select low prices.

Explanation:

One of the vital goal of doing business is profit irrespective of the firm. Every business has to deal with funds and when funds is involved profit has to be made even while serving the client in satisfying conditions. The profit enables the firm to be ran smoothly; it's operations and have a reason to be said that their in business. Every firm ooks out for opportunities to make rofit while giving their best. According to the paragraph profits are high when the price of the commodity is reduced, each firm will reduce it's pricing to ensure they make profit.

4 0
3 years ago
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