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mrs_skeptik [129]
3 years ago
5

The Allowance for Doubtful Accounts account has a year-end credit balance, prior to adjustment, of $450. The bad debts are estim

ated at 3% of $650,000, the net credit sales. After the appropriate adjusting entry for bad debts, what will be the balance of the Allowance for Doubtful Accounts account?
Business
1 answer:
Eddi Din [679]3 years ago
5 0

Answer:$19500

Explanation:

The provision for doubtful debts accounts is an account that shows the amount of estimated debts that are expected to go bad at the end of the year. The estimated amount at the end of a year is debited to income account, credited to debtors account and left as a credit balance on the provision for doubtful debts accounts.

If at the end of a new year a new estimate is made which differs from the current estimated figure, then the account is adjusted to show the entire new estimate and that is why the answer to the question is 3% of $650,000 = $19,500.

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Hicks Health Clubs, Inc., expects to generate an annual EBIT of $750,000 and needs to obtain financing for $1,200,000 of assets.
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Answer:

Hicks Health Clubs, Inc. earnings after taxes will change by minus $10,800 if they choose the more aggressive financing plan instead of the more conservative plan.

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3 years ago
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The Sports Club plans to pay an annual dividend of $1.20 per share next year, $1.12 per share a year for the following two years
Delicious77 [7]

Answer:

$9.63

Explanation:

Data provided in the question:

Year              Annual dividend paid

   1                                      $1.20

   2                                      $1.12

   3                                      $1.12

   4                                      $14.20

Now,

Year       Annual dividend paid        Present value factor     Present value

   1                              $1.20                          0.84246               1.011

   2                             $1.12                          0.84246               0.7949

   3                             $1.12                          0.59793             0.6696

   4                             $14.20                       0.50373             7.1529

===============================================================

Worth of stock = 1.011 + 0.7949 + 0.6696 + 7.1529

= $9.6284 ≈ $9.63

Note:

Present value factor = [ 1 ÷ (1 + 0.187)ⁿ]

here,

n is the year

7 0
3 years ago
A justification for job training programs is that they improve worker productivity. Suppose that you are asked to evaluate wheth
patriot [66]

Explanation:

1. The ceterus paribus effect gives us to what extent, the effect of a variable has on another variable, while holding all other factors fixed. Analysing job training of workers on productivity will give us results that are not biased since we will not be taking account of other factor variables in the calculations. When 2 firms are the same in almost every aspect apart from number of hours on training, then we will find out that each firm would have different levels of workers output. So we should know if workers output increases due to job training.

2. When it comes to provision of training, furms do these based on characteristics of the workers. Some of these characteristics are measurable while some are immeasurable

Measurable:

Experience on the job,

Productivity

Level of education,

immeasurable :

Skill set

Vision

Likeliness to bstay at firm

3. Apart from worker characteristics, productivity also depends on other factors one of which is technological change. A technological change can bring about increased efficiency and greater output by the worker. Different firms using different capital and technological combination are quite likely to have different output levels.

4. A positive correlation between job training and productivity cannot be used to ascertain if job training makes worker more efficient this is due to the fact that correlation only tells us if variables are in coexistence. So a positive correlation does not tell us that job training is indeed bringing about changes in the productivity of workers.

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