Ask question

Ask question

All categories

lorasvet [3.4K]

3 years ago

5

At the end of Year 1, Fulton Corporation estimates uncollectible accounts to be $10,000. Actual bad debts during Year 2 totaled

$12,000. This indicates that management’s estimate of uncollectible accounts in Year 1 was:_____________

1 answer:

zloy xaker [14]3 years ago

3 0

Answer:

too low

Explanation:

This indicates that management’s estimate of uncollectible accounts in Year 1 was too low

You might be interested in

What is one effect of the profit motive? A. It pushes companies to seek to eliminate competition. B. It enables the government t

finlep [7]

Answer:

it pushes companies to seek to eliminate competition

Explanation:

apex

6 0

3 years ago

charging a customer different prices per unit, depending upon the number of units purchased is called

klemol [59]

It can be inferred that charging a customer different prices per unit depending on the number of units is called price discrimination.

<h3>What is price discrimination?</h3>

Price discrimination is a sales strategy in which customers are charged different prices for the same product or service based on what the seller thinks they can get the customer to accept. In pure price discrimination.

The seller charges each customer the maximum price he will pay. In the most common forms of price discrimination, the salesperson divides customers into groups based on certain attributes and charges each group a different price.

<h3>more insight on price discrimination</h3>

Price discrimination is practiced based on the seller's belief that customers of certain groups may be asked to pay more or less based on certain demographics or how they value the product or service in question.

Price discrimination is most useful when the gain from separating markets is greater than the gain from keeping markets together. The effectiveness of price discrimination and the length of time that different groups are willing to pay different prices for the same product depends on the relative elasticity of demand in the submarkets

Learn more about Price Discrimination at:

brainly.com/question/29540756

#SPJ1

6 0

1 year ago

IAS 32 defines a financial instrument as: any contract that gives rise to a financial asset of one entity and a financial liabil

Verdich [7]

Answer:

any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity.

Explanation:

IFRS is an acronym for International Financial Reporting Standards, it comprises of a set of accounting standards or rules issued by the International Accounting Standards Board (IASB). The International Financial Reporting Standards ensures that statement of income, when reported by accountants is consistent, transparent and comparable globall

IAS 32 defines a financial instrument as any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity.

7 0

3 years ago

A company had the following cash flows for the year: (a) Purchased inventory, $60,000 (b) Sold goods to customers, $90,000 (c) R

In-s [12.5K]

Answer:

The amount would be reported for net investing cash flows on the Statement of Cash Flows is <u>–$190,000</u>, that is, <u>minus $190,000</u>.

Explanation:

Cash flow from investing activities refers to the section of the cash flow statement that provides amount of cash that is generated or spent on investing activities.

Investing activities comprises of purchases or sales property plant, and equipment (PP&E), marketable securities (i.e., stocks, bonds, etc.), and among others.

From the question, the amount of net investing cash flows can be computed as follows:

Particulars Amount ($)

Purchased land –180,000

Purchased treasury stock –40,000

Sold delivery truck <u> 30,000 </u>

Net cash flow from investing activities <u>–190,000 </u>

Therefore, the amount would be reported for net investing cash flows on the Statement of Cash Flows is <u>–$190,000</u>, that is, <u>minus $190,000</u>.

7 0

3 years ago

The ACC Tutoring Service provides tutoring to accounting students. The volume of tutoring is low at the beginning of the semeste

mrs_skeptik [129]

Answer:

Estimated fixed cost is $17,500.

Explanation:

Applying the high-low method, first, we calculated the variable cost per unit of the firm: ( 125,000 - 55,000) / (4,300 - 1,500) = $25 per tutoring hour.

We have : Total cost of a firm = Variable cost per tutoring hour x tutoring hour delivered + fixed cost.

put the number in the formula, using the high point ( using low point will also result in the same result of fixed cost), we have:

125,000 = 25 x 4,300 + fixed cost <=> Fixed cost = 125,000 - 25 x 4,300 = $17,500.

8 0

3 years ago