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Jlenok [28]
2 years ago
5

Predict how the price of athletic shorts would change if schools banned their use.

Business
1 answer:
Nataly_w [17]2 years ago
6 0
<span>I specifically find that the banning of athletic shorts would decrease the demand for athletic shorts.Thus. overall monthly and yearly sales will decline. The decrease in demand for athletic shorts will affect economic growth, sales and gross domestic product (gdp).</span>
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Madison Inc. reported sales of $1,000,000, a debit balance in Accounts Receivable of $80,000, and a credit balance of $5,000 in
aniked [119]

Answer:

Accounts Receivable  $80,000,

Bad debt losses of 1% of credit sales= 1% * $ 80,000= $ 800

Allowance for Doubtful Accounts $5,000 credit

Bad Debts                                      $ 800 Debit

Allowance for Doubtful Accounts $4,200 credit

Two entries will be required

For recording Bad debts Expense

Bad Debts Expense $ 800 Dr

Allowance for Doubtful Accounts $ 800 credit

Adjusting Entry at year end.

Allowance for Doubtful Accounts $ 800 Debit

Account Receivables                   $ 800 Credit

4 0
3 years ago
Read 2 more answers
• what are the four characteristics of capital acquisition and repayment cycle that significantly influence the audit?
gavmur [86]

There are four chararacteristics, which are:

1. Relatively few transactions affect the account balances, but each transaction is often highly material

2. The exclusion or misstatement of a single transaction can be material

3. A legal relationship exists between the client entity and the holder of the stock, bond, or similar ownership document

4. A direct relationship exists between the interest and dividends accounts and debt and equity  

3 0
3 years ago
The following events occur for The Underwood Corporation during 2021 and 2022, its first two years of operations.
guajiro [1.7K]

Answer:

Net account receivable

2021 $8,085

2022 $5,335

Explanation:

Calculation for the net account receivable

2021 2022

Total account receivable 14,700 9,700

(33,200-18,500=14,700)

(48,200-38,500=9,700)

Less: Allowance for doubtful accounts (6,615) (4,365)

(45%*14,700=6,615)

(45%*9,700=4,365)

Net account receivable 8,085 5,335

(14,700-6,615=8,085)

(9,700-4,365=5,335)

Therefore Net account receivable will be :

2021 $8,085

2022 $5,335

6 0
3 years ago
t's recommended that you join at least _______ professional membership(s) in your field to indicate that you're involved and ded
Inessa [10]

Answer:

The correct answer is letter "D": one.

Explanation:

After graduation from college, <em>young professionals should enroll in one professional program</em> at least so whenever they present their resume to companies, with their <em>memberships</em>, they show they are interested in following a path career in their field of study. This will let employers have an idea of the type of person they are dealing with and are likely to get the impression the young professional is taking the application seriously.

8 0
3 years ago
The corporate charter of Gagne Corporation allows the issuance of a maximum of 100,000 shares of common stock. During its first
Elanso [62]

Answer:

authorized 100,000

issued 70,000

outstanding 70,000 - 4,000 treasury stock = 66,000

Explanation:

The amount authorized doesn't change unless the company start  the legal procedure to do it.

The shares, once issued, can't be destroyed.

Te outstanding shares are the mount in the market, that will be the issued shaes less the treasury stock, which are shares in the company's possesion.

6 0
3 years ago
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