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ASHA 777 [7]
3 years ago
11

The 4,000 accounts receivable of Miller Company have a total book value of $150,000. A CPA has selected and audited a sample of

100 accounts with a total book value of $3,700 and an audited value of $3,800. Using the difference estimation technique, estimated total audited value of the population is:________
a. $150,000.
b. $152,000.
c. $154,000.
d. $154,054.
Business
1 answer:
Dmitriy789 [7]3 years ago
3 0

Answer:

c. $154,000.

Explanation:

According to the difference value technique, the average difference between audited value and book value for the sample should be replicated for the whole population of 4,000 accounts. The average difference per account is:

D=\frac{\$3,800-\$3,700}{100}\\D=\$1

This means that the audited value is $1 greater than the book value for each account, assuming 4,000 accounts with a book value of $150,000, the audited value is:

A = \$150,000+\$1*4,000\\A=\$154,000

Estimated total audited value of the population is: c. $154,000.

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The terms of a partnership agreement provide that one of the partners is to receive a salary allowance of $30,000, plus a bonus
Pavel [41]

Answer:

The correct answer is C: Bonus= $24000

Explanation:

The terms of a partnership agreement provide that one of the partners is to receive a salary allowance of $30,000, plus a bonus of 20 percent of income after deduction of the salary allowance.

The formula to calculate the bonus is:

Bonus=0,20*(Income-salary)

If income is $150000

Bonus= 0,20*(150000-30000)=$24000

8 0
3 years ago
Direct Method Question (2026, Current Period): 2026 2025 A/R 49,000 23,000 Prepaid Insurance 15,000 3,000 Salaries Payable 13,00
hammer [34]

Answer:

$49,000

Explanation:

Missing<em>"Cash Event => Cash Paid for Salaries Second Number => _____ __?___, ______ ______ ______"</em>

<em />

Cash paid for salaries (using direct method)

Particulars                                                           Amount

Opening salaries payable                                  $5,000

Add: Salaries expense for the current year      $57,000

Less: Closing salaries payable                           <u>$13,000</u>

Cash paid for salaries during current year     <u>$49,000</u>

4 0
3 years ago
An individual consumes products X and Y and spends $36 per time period. The prices of the two goods are $3 per unit for X and $2
vekshin1

Answer:

a) 3X + 2Y = 36

b) X = 6 , Y = 9

c) 27

Explanation:

Individual consumes : X and Y

Spends : $36 per time period

unit cost : $3 per unit for X

                 $2 per unit for Y

utility function : U( X, Y ) = .5XY

<u>A) Budget equation mathematically</u>

X* Px + Y* Py = M

3X + 2Y = 36

Px and Py = unit cost for X and Y

M = Total spent ( revenue )

<u>b) Values of X and Y that will maximize utility </u>

Maximum utility ( MRS )  = Px / Py ,

MRS = MUx / MUy

 = Y/X  = 3/2

∴ 2Y = 3X

From BC : 6X = 36 ( X = 6 plug into mathematically equation above )

∴ X = 6 , hence Y = 9

<u>c) Total utility generated per unit of time </u>

U( X,Y ) = .5XY

            = 0.5 * 6 * 9 = 27

6 0
3 years ago
if data links connecting different parts of the united states were to fail, gdp would fall. if, on the other hand, the network o
photoshop1234 [79]

Answer:

(1). Increament in GDP.

(2). Decrease In marginal product.

(3). POSITIVE marginal Product (MP).

Explanation:

"If data links connecting different parts of the united states were to fail, gdp would fall. if, on the other hand, the network of state-of-the-art, high-speed connections were doubled in size" what will happen are given below;

=> There will be an increase in the Gross Domestic Product (GDP).

=> There will be a reduction In the value of the marginal Product (MP). The marginal Product (MP) will reduce as far more than the original network.

=> The marginal Product (MP) will be POSITIVE.

8 0
4 years ago
The Smith Company manufactures insulated windows. Costs for March were as follows. Direct labor $53,000 Indirect labor 18,000 Sa
Marat540 [252]

Answer:

$27,000

Explanation:

The following costs were incurred by Smith's company during the month of March

Direct labor $53,000

Indirect labor 18,000

Salary of corporate vice president for advertising 25,000

Direct materials 48,000

Indirect materials 4,000

Interest expense 7,500

Salary of factory supervisor 3,000 Insurance on manufacturing equipment 2,000

Therefore the actual manufacturing overhead for March can be calculated as follows

= Indirect labour + indirect materials + salary of factory supervisor + insurance on manufacturing equipments

= $18,000 + $4,000 + $3,000 + $2,000

= $27,000

Hence the actual manufacturing overhead for March is $27,000

8 0
3 years ago
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