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bearhunter [10]
4 years ago
6

g "At the start of the current year, Minuteman Corporation had a credit balance in the Allowance for Doubtful Accounts of $3,500

. During the year a monthly provision of 3% of sales was made for uncollectible accounts. Sales for the year were $1,110,000, and $7,200 of accounts receivable were written off as worthless. No recoveries of accounts previously written off were made during the year. The year-end financial statements should show:"
Business
1 answer:
nordsb [41]4 years ago
6 0

Answer: Allowance for the doubtful accounts with a credit balance of $29,600

Explanation:

From the information that is provided in the question, the following can be deduced and the year-end financial statements should show:

Allowance for the doubtful accounts with a credit balance will be calculated as: the beginning allowance for the doubtful accounts + (the sales × Provision % ) - accounts receivable that were written off.

= $3,500 + ($1,110,000 × 3%) - $7,200

= $3500 + $33300 - $7200

= $36800 - $7200

= $29,600

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financial calculator Bruno's Lunch Counter is expanding and expects operating cash flows of $23,900 a year for 5 years as a resu
Ann [662]

Answer:

NPV = 138,347.55

Explanation:

<em>Net Present Value (NPV) : This is one of the techniques available to evaluate the feasibility of an investment project. The NPV of a project is the difference between the present value of the cash inflows and the cash outflows of the project.</em>

We sahall compute theNPV of this project by discounting the appropriate cash flows as follows:

<em>Prevent Value of  operating cash flow</em>

PV =A× (1- (1+r)^(-n))/r

A- 23,900, r - 12%, n- 5

PV = $23,900 × (1- (1.12)^(-5))/0.05

=206,769.963

<em>PV of Working Capital recouped</em>

PV = 5600× 1.12^(-5)

    = 3,177.59

NPV = initial cost + working capital + Present Value of working capital recouped + PV of operating cash inflow

NPV = (66,000) + (5600) + 3,177.59 + 206,769.96

NPV = 138,347.55

5 0
3 years ago
When Bill is alone with Sally, he apologizes by saying, "I'm sorry about getting angry yesterday. I should have informed you soo
Debora [2.8K]

Answer:

  • <u><em>Remedy</em></u>

Explanation:

This question comes with these answer choices:

  • a. remedy.
  • b. rumination.
  • c. responsibility.
  • d. regret.

<h2>Solution</h2>

Saying sorry is not enough in most cases. The apology should include efforts to remedy or reduce the harm caused. Some kind of compensation.  

Bill should find out what consequences his action had on Sally, and thus try to compensate in a way that the negative consequences are eliminated or minimized: is it necessary to replace something?, is it necessary to pay for monetary loss?, are feelings hurt, so that you need to change your behavior to remediate the situation?

Start by establishing the consequences of your action on the offended person and then implement a remedy.

6 0
3 years ago
Scenario: Fiscal Policy Consider the economy of Arcadia. Its households spend 75% of increases in their income. There are no tax
nika2105 [10]

Answer:

less than the government spending multiplier

Explanation:

Given :

Percentage spends  by a households for the increase in the income = 75%

So the mpc = 0.75

Potential output = 600 billion arcs

The government multiplier is = $\frac{1}{1-0.75}$

                                                $=\frac{1}{0.25}$

                                                = 4

The tax multiplier is = $\frac{c}{1-c}$

                                 $=\frac{0.75}{0.25}$

                                 = 3

Thus we see that the tax multiplier is less than the government spending multiplier.

7 0
3 years ago
The Romer and Romer 2010 paper in the American Economic Review found that tax changes that are made to promote long-run growth o
Artemon [7]

Group of answer choices:

A) An uncertain correlation between taxes and output GDP.

B) A strong negative relationship between taxes and output GDP.

C) A strong positive relationship between taxes and output GDP.

D) A weak positive relationship between taxes and output GDP.

Answer:

The correct answer is letter "C": A strong positive relationship between taxes and output GDP.

Explanation:

According to "<em>The Macroeconomic Effects of Tax Changes: Estimates Based on a New Measure of Fiscal Shocks</em>" published by <em>Christina and David Romer</em> in 2010 tax increases are highly contractionary causing relevant-robust effects in the overall economy, positively affecting the Gross Domestic Product (<em>GDP</em>) output level.

4 0
3 years ago
According to theory X by McGregor, managers assume that employees
posledela

Theory X assumes that employees dislike their work and need to be controlled.

4 0
3 years ago
Read 2 more answers
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