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ira [324]
3 years ago
12

using the aging of accounts receivable, Age Old, Inc. estimates that $90000 of its 4000000 of accounts receivable will be uncoll

ectible. Prior to making its adjusting entry, the unadjusted allowance for doutfull accounts has a credit balance of 1000. After the adjustment, Bad Debt Expense on the income statement will be _____ the allowance for doubtful accounts on the balance sheet
Business
1 answer:
DENIUS [597]3 years ago
6 0

Answer:

  $90,000

Explanation:

Bad debts expense is affiliated to a firms' current asset accounts receivable. It is also regarded as the uncollectible or doubtful accounts expense. Bad debts expense arises due to inability of customers to pay for goods or services that was purchased on credit.

The allowance for doubtful accounts on the balance sheet will be $90,000

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consider a hypothetical economy in which households spend 0.5 of each additional dollar they earn and save the remaining 0.5
Sliva [168]

hypothetical economy in which households spend 0.5 of each additional dollar they earn and save the remaining 0.5

<h3>What is hypothetical economy?</h3>

The paper investigates the consequences for a hypothetical economy of a set of government tax and spending policies that are unsustainable in the long run and are recognized as such by private individuals.

Comparative Economic Systems is a sub-category of economics that deals with the comparative study of various economic organization systems such as capitalism, socialism, feudalism, and the mixed economy.

The marginal propensity to consume is calculated by dividing the change in consumption by the change in income.

Each economy operates under its own set of conditions and assumptions. Traditional economies, command economies, mixed economies, and market economies are the four major types of economic systems.

To know more about hypothetical economy follow the link:

brainly.com/question/27893144

#SPJ4

5 0
2 years ago
Which type of interest does not change over the life of a loan?
Bumek [7]

Answer:

Fixed interest

Explanation:

A fixed-rate mortgage charges a set rate of interest that does not change throughout the life of the loan. You'll know exactly how much each monthly payment will be, as well as how much it will cost you overall to pay off the loan based on that rate.

5 0
2 years ago
Why do overhead costs often shift from high-volume products to low-volume products when a company switches from a conventional c
sashaice [31]

Answer:

When a company is using conventional costing methods, the costs are allocated based on volume so those products with a high volume will get a higher share of the costs.

When Activity-based costing is used however, costs are assigned more accurately which will lead to the actual products that are causing the costs incurring them instead of those high-volume products so it will appear as though overhead costs have shifted from high-volume products to low-volume products.

3 0
2 years ago
A bank has $50 million in assets, $47 million in liabilities and $3 million in shareholders' equity. If the duration of its liab
Alisiya [41]

Answer: 1.222

Explanation:

The Average duration can be derived from the formula:

Assets * Average Duration = Liabilities * Duration of Liabilities

Average Duration = (Liabilities * Duration of Liabilities) / Assets

= (47,000,000 * 1.3) / 50,000,000

= 61,100,000 / 50,000,000

= 1.222

5 0
2 years ago
Wattan Company reports beginning inventory of 10 units at $60 each. Every week for four weeks it purchases an additional 10 unit
qwelly [4]

Answer:

cost of goods available for sales= $3,180

Number of units= 50 units

Explanation:

Giving the following information:

Wattan Company reports beginning inventory of 10 units at $60 each. Every week for four weeks it purchases an additional 10 units at respective costs of $61, $62, $65, and $70 per unit for weeks 1 through 4.

To calculate the cost of goods available for sales, we need to use the following formula:

cost of goods available for sales= beginning inventory + cost of goods purchase during the year

cost of goods available for sales= 10*60 + 10*61 + 10*62 + 10*65 + 10*70

cost of goods available for sales= $3,180

Number of units= 5*10= 50 units

5 0
3 years ago
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