Answer:
$50,000
Explanation:
Since Tinsel Co.’s balances in allowance for credit losses were $70,000 at the beginning of the current year and $55,000 at year end.
If during the year, receivables of $35,000 were written off as uncollectible, the amount that Tinsel should report as credit loss expense at year end is $50,000 and this is derived by
Opening balance .................................... 70,000
Add: Receivables written off .............. .35,000
less: Closing balance .............................<u>(55,000)</u>
= Amount of credit loss for the year - <u>50,000</u>
<u />
Answer: $2
Explanation:
The formula for simple interest = I = prt
I =$ 100 × 0.02 × 1 = $2
At the end of one year, $2 would be made.
Explanation:
The Journal Entry from July 1 and July 31 is shown below:-
1. Cash Dr, $560
To Deferred revenue $560
(Being cash is received)
2. Deferred revenue $336
To Sales revenue $336
(Being 12 months sales service is recorded)
3. Cost of goods sold $280
To Inventory $280
(Being cost of goods sold is recorded)
4. Deferred revenue ($336 ÷ 12) $28
To Service revenue $28
(Being Deferred service revenue is recorded)
Working Note:-
Cellular service revenue = offer price ÷ total cost of phone and service × cellular service
= (($560 ÷ ($448 + $672)) × $672
= $336
Answer: Demand is Unit - Elastic over this price range.
Explanation:
When total revenue remains the same over various price level then the demand curve is unitary elastic.
Unit-Elastic demand - It depicts a demand curve which is perfectly responsiveness to changes in cost. That is, the amount of demand changes as indicated by a similar percentage changes in prices.
A demand curve with an elasticity of 1 is called as unitary elasticity of demand.
Answer:
A. Lead to local but not global or strategic improvements if they are not linked to strategy.
Explanation:
A key performance indicator card is a technique or rather methodology used in assessing the status of a measure by comparing key indicators to target. It is a performance card that identifies the main objective and gives a well structured view of the organization. It can lead to both local and strategic improvements if they are linked to strategy. They are performance scorecards developed without necessarily working from company's strategy.
