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3 years ago

PLEASE HELP ME!!!!

Business

1 answer:

Vinvika [58]3 years ago

6 0

I'm 100% sure the answer is B. your industry's going rate.

Just took the test and got it correct

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On December 31, 2015, Coolwear Inc. had balances in Accounts Receivable and Allowance for Uncollectible Accounts of $43,000 and

Marrrta [24]

Answer:

Bad debt expense $5.125

Explanation:

Initial Balance

Accounts Receivable $ 43.000

Allowance for Uncollectible Accounts $ 1.250

Entry

Allowance for Uncollectible Accounts $ 775

Accounts Receivable $ 775

New Balance

Accounts Receivable $ 42.225

Allowance for Uncollectible Accounts $ 475

Entry Adjustment

Bad debt expense $ 5.125

Allowance for Uncollectible Accounts $ 5.125

END Balance

Accounts Receivable $ 42.225

Allowance for Uncollectible Accounts $ 5.600

7 0

3 years ago

A customer sells short 100 shares of ABC at $35 and buys 1 ABC Jul 35 Call @ $3. The stock falls to $30 and the customer closes

LUCKY_DIMON [66]

Answer:

The answer is $300 gain.

Explanation:

Operations:

Short 100 shares of ABC at $35 each= 100 * 35 = + $3,500
Buy 1 ABC Jul 35 Call @ $3 (one call equals to 100 shares)= 100 * (3) = $(300), accumulated = + 3,500 - 300 = + 3,200
Closes the option contract at $1 = 100 * 1 = + $100, accumulated = + 3,200 + 100 = + 3,300
Buys the stock at the current market price (buys 100 stock @ $30 each)= 100 * (30) = $(3,000), accumulated = + 3,300 - 3,000 = + $300.

5 0

3 years ago

Lucky started a new business last year. Since it was the first year of operation, the business purchased $10,000 in machinery an

Jet001 [13]

Answer:

The answer is: A) The new machinery can be depreciated using the same method or different method than the previously purchased machinery

Explanation:

Their is no rule that requires a business to always use the same depreciation method for the assets they purchase.

The most common depreciation methods include:

Straight-line.
Double declining balance.
Units of production.
Sum of years digits.

Depending on the asset a business may consider one depreciation method that better suits it, and another depreciation method for their other assets.

6 0

4 years ago

On August 1, 20Y7, Rafael Masey established Planet Realty, which completed the following transactions during the month:

Sphinxa [80]

Answer:

a. Dr Cash 17,500

Cr Common Stock 17,500

b. Dr Supplies 2,300

Cr Account payable 2,300

c. Dr Cash 13,300

Cr Sales commission 13,300

d. Dr Rent expense 3,000

Cr Cash 3,000

e. Dr Account payable 1,150

Cr Cash 1,150

f. Dr Dividend 1,800

Cr Cash 1, 800

g. Dr Automobile expense 1,500

Dr Miscellaneous expense 400

Cr Cash 1,900

h. Dr Salaries expense 2,800

Cr Cash 2,800

i. Dr Supplies expense 1,050

Cr Supplies 1,050

Explanation:

Preparation of Journal entry

a. Dr Cash 17,500

Cr Common Stock 17,500

b. Dr Supplies 2,300

Cr Account payable 2,300

c. Dr Cash 13,300

Cr Sales commission 13,300

d. Dr Rent expense 3,000

Cr Cash 3,000

e. Dr Account payable 1,150

Cr Cash 1,150

f. Dr Dividend 1,800

Cr Cash 1, 800

g. Dr Automobile expense 1,500

Dr Miscellaneous expense 400

Cr Cash 1,900

(1,500+400)

h. Dr Salaries expense 2,800

Cr Cash 2,800

i. Dr Supplies expense 1,050

Cr Supplies 1,050

8 0

3 years ago

In the long run the prices charged by a firm in monopolistic competition will be

kumpel [21]

Answer: The correct answer is "d. equal to average cost, including the opportunity cost of capital.".

Explanation: In the long run the prices charged by a firm in monopolistic competition will be equal to average cost, including the opportunity cost of capital.

In long-term monopolistic competition, the demand curve will be tangent to the average long-term cost and the price set at this level. The benefits will be equal to zero and therefore there will be no entry or exit of companies.

6 0

3 years ago