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3 years ago

A price-discriminating firm charges the lowest price to the group that

1 answer:

5 0

Answer: price-discriminating firms charge more price from the group that has less price elasticity of demand than the group that has more elastic demand

Explanation:

Means, the group that does not decrease their demand as the price goes up. Price discriminating firms charge more price from such groups. Let me explain more that what price discriminating firms are.

These are the firms that charge different prices for similar and identical good from different groups.

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Johnson Company calculates its allowance for uncollectible accounts as 10% of its ending balance in gross accounts receivable. T

Margaret [11]

Answer:

Incomplete question is "2. What journal entry should Johnson record to recognize bad debt expense for 2021? 3. Assume Johnson made no other adjustment of the allowance for uncollectible accounts during 2021. Determine the amount of accounts receivable written off during 2021 4. If Johnson instead used the direct write-off method, what would bad debt expense be for 2021?"

1. Gross accounts Receivable = Allowance Account balance at beginning / 10%

= $30,000 / 10%

= $300,000

2. Year Account Title Debit Credit

2021 Bad debt expense $105,000

($500,000*10% + $55,000)

To Allowance for Doubtful Accounts $105,000

3. Accounts receivable written off = Beginning balance of Allowance Account - Ending Balance of Allowance account

= $30,000 - (- $50,000)

= $30,000 + $50,000

= $80,000

4. Bad debt expense for 2021 (direct write off method) = Amount written off = $80,000

4 0

2 years ago

On June 1, 2016, Skylark Enterprises, a calendar year LLC reporting as a sole proprietorship, acquired a retail store building f

fiasKO [112]

Answer:

Skylark Enterprises

The cost recovery is $___41,024___, and the adjusted basis for the building is $__358,976___

Explanation:

a) Data and Calculations:

Cost of retail store acquired = $500,000

Property acquisition date = June 1, 2016

Property disposal date = June 21, 2020

Length of use of property before disposal = 4 years and 21 days

Cost allocated to Land = $100,000

Cost allocated to Building = $400,000

Annual Depreciation expense = $10,256 ($400,000/39)

Cost recovery after 4 years = $41,024 ($10,256 * 4)

Adjusted basis for the building = $358,976 ($400,000 - $41,024)

b) The adjusted basis for the building is the cost of the building minus its accumulated depreciation for the number of years it has been in use.

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3 years ago

Ecosystem services ________. are required to rebalance natural systems that we have disturbed are economically valuable services

MAXImum [283]

Another answer to go along with the rest is (contribute to keeping ecosystems productive) I hope this helps

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3 years ago

Plz help...... What is a term deposite

g100num [7]

A time deposit or term deposit is a deposit in a financial institution with a specific maturity date or a period to maturity, commonly referred to as its “term”. Time deposits differ from at call deposits, such as savings or checking accounts, which can be withdrawn at any time, without any notice or penalty.

7 0

2 years ago

Read 2 more answers

Which of the following statements best explains why the red bar goes up when the blue goes up?

vesna_86 [32]

Answer: Higher spending than taxing results in a deficit, which contributes to more debt.

Explanation:

Here the red bar is referred to the debt and the blue bar is referred to the spending. When the government spending is more it decreases the government revenue and creates a deficit in the funds. When there is deficit it means the government borrows funds for spending which increases the debts.

Government spending to improve the status of the economy in the country. It Invests is various activities for growth and development purpose. Only on collecting high taxes the revenue of the government will increase. When taxes collected are low the government revenue is also low.

8 0

2 years ago