1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Orlov [11]
3 years ago
6

Gekko, Inc. reported the following balances (after adjustment) at the end of 2008 and 2007.

Business
1 answer:
nevsk [136]3 years ago
6 0

Answer:

Correct answer is D, P3,900

Explanation:

Begging Allowance for doubtful account is P1,500 (96,000 - 94,500). Ending balance of Allowance for doubtful account is P3,000 (P108,000 -P105,000). We can now work back the provision for doubtful accounts that the company has made during 2008.

Beginning P1,500

Add:

Collection of written off accounts 800

Total P2,300

Less:

Written off 3,200

Total (P900)

Therefore, in order for the company to have an ending inventory of P3,000, They must have set up a provision for doubtful accounts in the amount of P3,900. Attached herewith is the T-account of allowance for doubtful accounts

You might be interested in
When firms are said to be price takers, it implies that if a firm raises its price,.
Alex73 [517]

Answer:

when films are said to be prize takers in implies that if you raises its price a buyers will go else where

4 0
2 years ago
The _________________ is the buying and selling of Treasury securities to influence the nation’s money supply..
Lynna [10]

Answer:

open market operation

Explanation:

The Federal Reserve purchases and sells treasury securities on the open market in order to regulate the supply of money that is on deposit in banks, and therefore available to loan out to businesses and consumers. It purchases Treasury securities to increase the supply of money and sells them to reduce the supply of money

3 0
3 years ago
A witness statement is a primary source.<br> ✅True<br> - False
ohaa [14]

Answer: true

Explanation:

7 0
2 years ago
Read 2 more answers
Sheena, marketing manager for Yaard-Vark Lawn Tractors, is interested in the relationship between the prices of lawn tractors an
AlekseyPX

Answer:

Exploratory

Explanation:

Sheena, marketing manager for Yaard-Vark Lawn Tractors, is interested in the relationship between the prices of lawn tractors and the level of sales. To test whether increasing prices will lead to a change in sales and, if so, how much of a change, she should use exploratory research.

Exploratory research is the kind of research where an unknown phenomenon is worked upon. In this case, Sheena does not know the effects of prices on sales. Therefore she carries out exploratory research to fill in the blanks.

4 0
3 years ago
If government purchases increase by $10 billion and the economy's mpc is. 8, the aggregate demand curve will shift _____
Ad libitum [116K]

If government purchases increase by $10 billion and the economy's MPC is. 8, the aggregate demand curve will shift <u>rightward by $50 billion at each price level.</u>

<u />

A series of markets where goods and services are exchanged, facilitated by capital, combine to make an economy. These networks exist at a local, national and global level. Economies can take many exclusive forms, focus on various priorities, and feature distinct levels of government intervention.

Financial issues influence our everyday lives. This consists of problems such as tax and inflation, interest rates and wealth, inequality and emerging markets, and energy and the environment. Economic systems can be categorized into four major types: traditional economies, command economies, mixed economies, and market economies.

<u />

learn more about government here brainly.com/question/1078669

#SPJ4

<u />

5 0
2 years ago
Other questions:
  • On January 1, 2016, Hess Co. purchased a patent for $1,904,000. The patent is being amortized over its remaining legal life of 1
    11·1 answer
  • Mitchell wants a notation in his credit report indicating that he has been victimized by an identity thief. Identify what he nee
    10·2 answers
  • Why is the profit motive considered an incentive in a market system?
    12·1 answer
  • A certain politician has a brilliant idea. he will increase his popularity and assure reelection by giving away cash to everybod
    6·1 answer
  • Planet Company had operating income of $12,000, average operating assets of $125,000, and sales of $45,000. What is Planet's ret
    13·1 answer
  • A small apartment property is estimated to have potential gross income of $ 25,000. Vacancy and collection losses are expected t
    13·1 answer
  • Who is the least likely to be self-employed?
    13·2 answers
  • In the welding operations of a bicycle manufacturer, a bike frame has a flow time of about 11.5 hours. The time in the welding o
    12·1 answer
  • the list price of a computer was $100,000. the sales tax on the computer was 5%. the delivery cost was $1,000. the cost to assem
    13·1 answer
  • Joe, a plumber, borrowed money from a friend who is now insisting that Joe repay the money. Joe does not have the money but has
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!