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4 years ago

Which of the following is not generally regarded as a legitimate reason for gov't to intervene in a market?

Business

1 answer:

Bess [88]4 years ago

7 0

Answer:

C. To enforce property rights

Explanation:

Government intervention in market can be non materistically via regulation , materistically via taxes & subsidy.

Although the second materislistic way of tax, subsidy comes under the perview of 'Government Budget' .

Government budget is anual financial statement showing economy's expected revenue & expenditure .

Economic growth & stability by reallocation of resources , reducing income inequalities - reflect 'efficiency' & 'equity' as valid reasons .

Foreign protection is also not invalid depending upon the initial budding stage of a developing economy & its global stand. Eg - India 1950 to 1990 .

However all these are progressive legitimate reason for govt. Intervention .

But , enforcing property rights is a feature of 'socialistic (communistic) economy - which has its own demerits like loss of consumers soveireignity , lack of postive competitive efficiency , govt overburden.

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When preparing the operating budgets for a manufacturing company, the manufacturing overhead budget ________. only includes vari

Stells [14]

When preparing the operating budgets for a manufacturing company, the manufacturing overhead budget includes costs that are projected by the cost accountant and the production manager. It contains the all <span>manufacturing costs and expenses, except the direct materials (raw materials) and direct labor. </span>

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3 years ago

A trial balance before adjustment included the following:

BigorU [14]

The preparation of the journal entries assuming that the estimate of uncollectible accounts is as follows:

<h3>Journal Entries:</h3>

<u>a. 4% of accounts receivable</u>

Debit Bad Debts Expense $31,300

Credit Allowance for Doubtful Accounts $31,300

To record the bad debts expense for the period.

<u>b. 2% of net sales</u>

Debit Bad Debts Expense $13,800

Credit Allowance for Doubtful Accounts $13,800

To record the bad debts expense for the period.

<h3>Data and Calculations:</h3>

Debit Credit

Accounts receivable $180,000

Allowance for doubtful accounts 3,500

Sales returns and allowances 25,000

Credit Sales $540,000

Net sales = $515,000 ($540,000 - $25,000)

<h3>Adjustment Analysis:</h3>

a. 4% of accounts receivable

Ending balance of Allowance for doubtful accounts = $27,800 {($180,000 - $25,000 + $540,000) x 4%}

Bad Debts Expense = $31,300 ($3,500 + $27,800)

<h3 />

Bad Debts Expense $31,300 Allowance for Doubtful Accounts $31,300

b. 2% of net sales

Ending balance of Allowance for doubtful accounts = $10,300 ($515,000 x 2%)

Bad Debts Expense = $13,800 ($3,500 + $10,300)

<h3 />

Bad Debts Expense $13,800 Allowance for Doubtful Accounts $13,800

Learn more about estimating uncollectible allowances at brainly.com/question/25654164

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2 years ago

Dorsey Company manufactures three products from a common input in a joint processing operation. Joint processing costs up to the

KATRIN_1 [288]

Answer:

The incremental profit (loss) for each product is:

A = $-12,000

B = $49,000

C = $41,000

Explanation:

Split off Point: The split off point is that point in which joint products treated separately and sell them as a unique product.

Incremental Cash flow: The incremental cash flow is that cash flow which show the difference between the split off sales and normal sales.

Here, incremental means that if split off sales is greater than normal sales than firm is earning profit else the firm will suffer loss.

Steps to compute the incremental cash flows for each products:

Step 1: First write Additional selling price of all three products

Step 2: Than write the Split off selling price of all three products

Step 3: Now take the difference of selling price

Step 4: After that, multiply step 3 with split off sales

Step 5: Than write the additional sales

Step 6: Compare the two sales and analyse whether firm earns profits or suffer a loss, and finally the increment cash flows come.

The calculation is done in attachment sheet.

Thus, the incremental profit (loss) for each product is:

A = $-12,000

B = $49,000

C = $41,000

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4 years ago

If data indicates the economy is in recession and members of Congress are working to pass legislation to encourage economic grow

uranmaximum [27]

I think the correct answer from the choices listed above is option D. If data indicates the economy is in recession and members of Congress are working to pass legislation to encourage economic growth, then an a<span>nalysis of policy's effectiveness has occurred. The Congress most likely saw that the existing policies were not effective.</span>

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3 years ago

Oriole Company uses the percentage-of-receivables method for recording bad debt expense. The Accounts Receivable balance is $380

ohaa [14]

Answer:

Adjusting journal entry:

Dr Bad debt expense 19,000

Cr Allowance for doubtful accounts 19,000

Explanation:

accounts receivable balance = $380,000

total credit sales = $1,520,000

6% of accounts receivable will be bad debt = $380,000 x 6% = $22,800

credit balance allowance for doubtful accounts account = $3,800, and it must increase to $22,800 ⇒ $22,800 - $3,800 = $19,000

Adjusting journal entry:

Dr Bad debt expense 19,000

Cr Allowance for doubtful accounts 19,000

Allowance for doubtful accounts is a contra asset account with a credit balance that reduces the value of accounts receivable.

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4 years ago