Answer:
$14,300
Explanation:
Based on the information given we were told that the management of the company estimated that the amount in the uncollectible accounts will be the amount of $14,300 which means that the amount of $14,300 will be the balance of the Allowance for Bad Debts that should be reported on the company balance sheet.
For a firm that sells a prestige product, the relationship between price and quantity demanded is a <u>positive direct relationship</u>.
<h3>Why is the relationship between demand and price of prestige products direct?</h3>
The relationship between the demand and price of prestige products is direct because prestige products tend to sell better at high prices than at low prices.
And when the quantity demanded increases, the price tends to increase.
An example of a prestige product is an old car.
Thus, for a firm that sells a prestige product, the relationship between price and quantity demanded is a <u>positive direct relationship</u>.
Learn more about the demand for prestige products at brainly.com/question/6374886
Answer:
$35,000
Explanation:
Given that
Insurance = $700,000
Sustained cost = $40,000
Replacement cost = $1,000,000
Policy = 80%
The computation of amount eligible for payment is as shown below:-
Insurance required = Cost of building × Co insurance
=$1,000,000 × 0.80
= $800,000
The amount eligible for payment = (Insurance Carried ÷ Insurance Required) × Loss
= $700,000 ÷ ($1,000,000 × 80%) × ($40,000)
= $700,000 ÷ $800,000 × $40,000
= 0.875 × $35,000
= $35,000
Answer: <em><u>Cash to be distributed to Harding = $ 17000, Jones = $ 3000
</u></em>
Explanation:
It has been indicated that the ($9,000) deficit will be covered with a forthcoming contribution
∴ The Remaining Capital Balance is = (24000 + 24000) = $48000
∵Total cash Available = $20000
Loss = 48000 - 20000
= $ 28000
Loss will be shared between Harding & Jones in ratio = 16:48
∴ Harding Capital balance =
= $ 17000
∴ Jones Capital balance =
= $ 3000
Cash will be Distributed in their capital balance ratio
Therefore,
<u><em>Cash to be distributed to Harding = $ 17000, Jones = $ 3000
</em></u>
Answer:
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