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3 years ago

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12/31/06Accounts receivable $525,000Allowance (45,000)Cash realizable value 480,000During 2007 sales on account were $145,000 an

d collections on account were $86,000. Also, during 2007 the company wrote off $8,000 in uncollectible accounts. An analysis of outstanding receivable accounts at year end indicated that bad debts should be estimated at $54,000.48. The change in the cash realizable value from the balance at 12/31/06 to 12/31/07 wasa. $50,000 increaseb. $59,000 increasec. $42,000 increased. $51,000 increase

1 answer:

alekssr [168]3 years ago

5 0

Answer:

c. $42,000 increase

Explanation:

The computation of the change in cash realizable value is shown below:

= Adjusted cash balance - Cash realizable value

where,

Adjusted cash balance = Ending balance of accounts receivable + sales on account - collections - written off amount - bad debt expense

= $525,000 + $145,000 - $86,000 - $8,000 - $54,000

= $522,000

And, the cash realizable value is $480,000

Now put these values to the above formula

So, the value would be equal to

= $522,000 - $480,000

= $42,000 increase

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See Explanation

Explanation:

Given

$U(S,T) = 2ST$

$M_U_S =2T$

$M_U_T=2S$

The following details are omitted from the question

$P_S= \$50$ --- Price of the Shoes

$P_T = \$50$ --- Spent on dancing

$B = \$500$ --- Budget on shoe and dancing

Solving (a): Her budget line

First, we determine her budget equation (B).

This is calculated by:

$B = P_S * S + P_T *T$

This gives:

$500 = 50 * S + 50 * T$

$500 = 50 S + 50 T$

Divide through by 50

$10 =S + T$

$S + T = 10$ --- The budget equation

<em>See attachment for the budget line equation</em>

Solving (a): Optimal Consumption Bundle Point

First, we determine the marginal rate of substitution (MRS) using:

$MRS = \frac{MU_s}{MU_t} = 1$

$MRS = \frac{2S}{2T} =1$

This implies that:

$\frac{2S}{2T} = 1$

Cross Multiply

$2S = 2T * 1$

$2S = 2T$

Divide by 2

$S = T$

Substitute T for S in the budget equation

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Recall that:

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So, the point if optimal consumption bundle is (5,5)

<em>See attachment for point R</em>

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