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Fudgin [204]
3 years ago
6

Marin, Inc. had net sales in 2017 of $1,425,600. At December 31, 2017, before adjusting entries, the balances in selected accoun

ts were Accounts Receivable $240,100 debit, and Allowance for Doubtful Accounts $1,849 debit. Assume that 11% of accounts receivable will prove to be uncollectible.
Prepare the entry to record bad debt expense.
Business
1 answer:
patriot [66]3 years ago
7 0

Answer:

$24,562

Explanation:

Dr Bad Debt Expense $24,562

Cr Allowance for Doubtful Accounts

[(0.11×$240,100)- $1,849] $24,562

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The Seattle Corporation has been presented with an investment opportunity which will yield cash flows of $30,000 per year in Yea
Sergio [31]

Answer:

payback period = 4.86 years

Explanation:

given data

cash flows year 1 = $30,000 per year

cash flows year 5 = $35,000 per year

cash flows year 10 = $40,000 per year

investment cost = $150,000

to find out

payback period for this investment

solution

we get here accumulated inflows will be

accumulated inflows year 4 =  $30,000 × 4

accumulated inflows year 4 = $120,000

and

accumulated inflows year 5 = $120,000 + $35,000 = $155,000

and Initial investment = $150,000

so payback period will be

payback period = 4 years + (150,000 - 120,000)  ÷ 35,000 × 365 days

payback period = 4 years and 313 days

payback period = 4.86 years

3 0
4 years ago
What is the reason why people want something that is scarce?
vfiekz [6]
"Human wants are unlimited" is the one among the following choices given in the question why <span>people want something that is scarce. The correct option among all the options that are given in the question is the second option or option "B". I hope that this is the answer that has come to your desired help.</span>
5 0
3 years ago
What is investing best for
Colt1911 [192]

Answer:

Investing is best for Stock Market, Investment Bonds, Mutual Funds, Savings Accounts, and Physical Commodities.

Explanation:

Stock Market has reference to the collection of markets and exchanges where regular activities that take place are buying, selling, and issuance of shares of publicly held companies. These financial activities are being coned by means of formal exchanges that are institutionalized or market places over-the-counter (OTC) operating under a set of defined regulations.  

Investment Bonds have reference to the life insurance policies wherein you are investing a lump sum in various available funds. There is a fixed term for some investment bonds, whereas others don’t have any set investment term. Upon encashment of your investments, the amount you get back is outright dependent on how better – or how worse – the investment has been done.  

Mutual funds refer to investments pooling your money altogether with other investors for the purchase of shares towards collecting stocks, bonds, or other securities, having reference to as a portfolio, that may have the probability of recreation on your own. A portfolio manager typically oversees Mutual funds. Variety of fees is linked with mutual funds. Some funds are available with transaction charges for purchases and sales or commissions known as loads.  

Savings Accounts imply deposit account that is interest-bearing held at a bank or other financial institution. Even if these accounts are paying a modest rate typically, their safety and reliability enable them to become a great choice for parking cash wanted by you that has availability for short-term needs. Savings accounts, though are having some limitations on the frequency of your funds withdrawal, generally they proffer flexibility quite exceptionally, ideal for the construction of emergency fund.  

Actual commodities undergoing delivery to the contracted buyer when a commodity contract is completed in the spot market or the futures market are known as Physical Commodities. Different from other financial assets, these commodities are having a physical component for hedging as well as valuation. Physical Commodities have broader classification into energy, metals, agricultural, and livestock with each that are characteristically unique. Even then, similar kinds of commodities are subject to the variability of degrees of quality.  

4 0
3 years ago
One hypothesis for declining productivity growth rates since the Great Recession is that technological progress has been so rapi
Mice21 [21]

Answer:

False

Explanation:

history has documented that the Great Recession occurs between December 2007 to June of 2009. The recession lead to losses in countries such as the output went down and unemployment went up. The causes of the Great Recession are Rising Inequality, Loosening of bank lending rules and rise of mortgage securitization.

Technological advance is hand in hand with capital formation. Productivity growth rates is of utmost importance due to the fact that productivity growth rates have a big impact on future economic growth and development of the​ new economy was due to advances in information technology.

3 0
3 years ago
Rodney Blevins is a vacuum cleaner salesman. He earns a 22 percent commission on every vacuum cleaner he sells. In the month of
lakkis [162]
The commission for the month of December is $2,767.60

Solution:
(1,258*10)= $12,580 we apply the 22% to that result and we obtain $2,767.60
3 0
4 years ago
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