Complete the following:

MrRa [10]

Make at least one large payment over the term of the loan.

4 0

4 years ago

You choose to complete your homework rather than watch television so that you can earn a good grade. You made the choice with th

soldier1979 [14.2K]

<h2>You made the choice with the lowest "Opportunity cost".</h2>

Explanation:

Opportunity cost in simple terms, can be explained as "You get one by losing the other".

So why this opportunity cost is necessary? Let us understand.

This plays a significant role in "Personal finances". This is the effective part to be learnt to make decisions on finance.

Some of the real life examples are listed below:

Attending the interview is important than attending an entertainment event
Only if you spend time and money you can see a movie

"Theorie der gesellschaftlichen Wirtschaft" coined the word "opportunity cost".

7 0

3 years ago

Gideon Company uses the allowance method of accounting for uncollectible accounts. On May 3, the Gideon Company wrote off the $2

balandron [24]

Answer:

e. Debit Allowance for Doubtful Accounts $2,000

Credit Accounts receivables A-Hopkins $2,000

Explanation:

When a company use the allowance method of accounting for uncollectible accounts, the company would actively review and book bad debt expenses for any debt in doubt of collection. The entry would be; Debit Bad debt expenses, Credit Allowance for doubtful debt

However, where there is sufficient evidence that these debts goes into default, no more expenses would be recorded , instead

Dr. Allowance for doubtful debt $2,000

Cr. Account receivable $2,000

(To record written off receivables)

3 0

3 years ago

Forester Company has five products in its inventory. Information about the December 31, 2021, inventory follows. Product Quantit

zaharov [31]

Answer:

A)

A 1,000 x $26.00 = $ 26,000

B 500 x $30.60 = $ 15,300

C 900 x $ 19.00 = $ 17,100

D 900 x $ 19.80 = $ 17,820

E 800 x $26.10 = $ 20,880

Total $ 97,100

B)

102,240

C)

Write-down at NRV 1,060 debit

Inventory 1,060 credit

Explanation:

We have to calculate the net realizable value(NRV) for each item and compare with the historic cost:

Units// Cost /// NRV

A 1,000 $ 26 $ 32(1 - 0.1) = 28.8

B 500 $ 31 $ 34(1-0.1) = 30.60

C 900 $ 19 $ 24(1-0.1) = 21.60

D 900 $ 23 $ 22(1-0.1) = 19.80

E 800 $ 30 $ 29(1-0.1) = 26.10

We will always pick the lowest to valuate the goods:

A 1,000 x $26.00 = $ 26,000

B 500 x $30.60 = $ 15,300

C 900 x $ 19.00 = $ 17,100

D 900 x $ 19.80 = $ 17,820

E 800 x $26.10 = $ 20,880

Total $ 97,100

Total Cost:

1,000 x 26

+ 500 x 31

+ 900 x 19

+ 900 x 23

+ 800 x 30

103,300

Total NRV

1,000 x 28.80

+ 500 x 30.60

+ 900 x 21.60

+ 900 x 19.80

+ 800 x 26.10

102,240

Comparing at the entire inventory level we get the following adjustment

103,300 - 102,240 = 1,060

4 0

3 years ago

As jamal's income rises, his demand for pizza does not change. it follows that, for jamal, pizza is a(n)

irga5000 [103]

The pizza is a neutral good. A neutral good is a good whose demand is not changed even though the income provided by the good is changed. A person's income can go either up or down, but their desire to buy more or less of Jamal's pizza will not change, so pizza sales will not go up or down. Demand and income are not tied to each other.

8 0

4 years ago