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Agata [3.3K]
3 years ago
7

Janelle earned a salary of $62,000 in 2004 and $80,000 in 2014. The consumer price index was 126 in 2004 and 170 in 2014. Janell

e’s 2004 salary in 2014 dollars is a. $45,953. b. $89,280. c. $107,953. d. $83,651.
Business
1 answer:
Firlakuza [10]3 years ago
3 0

Answer:

d. $83,651.

Explanation:

In this question, we use the proportionate method which is shown below:

Salary in 2014 in dollars equals to

= Salary in 2004 × (Consumer price index in 2014 ÷ Consumer price index in 2004)

= $62,000 × (170 ÷ 126)

= $83,651

Simply we use divide the consumer price index in 2014 by  consumer price index in 2004 and then multiply it with the earned salary in 2004

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Which abbreviation correctly replaces the underlined word? this year the family reunion will be in november in cleveland.
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The answer is:  [A]:  " Nov. "
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4 0
3 years ago
What is ethical behavior?
iren [92.7K]

Answer:

Ethical behavior includes honesty, integrity, fairness and a variety of other positive traits. Those who have others' interests in mind when they make decisions are displaying ethical behavior. In the workplace, there might be a standard for ethics set throughout the company.

Explanation:

3 0
3 years ago
Allegheny Company ended Year 1 with balances in Accounts Receivable and Allowance for Doubtful Accounts of $68,000 and $3450, re
prohojiy [21]

Answer:

  • What amount will Allegheny report as bad debts Expense on its Year 2 income statement?

Dr Bad Debt Expense $ 8,250

Cr Allowance for Uncollectible Accounts $ 8,250

Explanation:

  • Balances in Accounts Receivable and Allowance for Doubtful Accounts of:

Dr Accounts receivable $ 68,000

Cr Allowance for Uncollectible Accounts $ 3,450

 

  • Allegheny write off $6300 of Uncollectible Accounts.  

Dr Allowance for Uncollectible Accounts $ 6,300

Cr Accounts receivable $ 6,300

 

  • Allegheny estimates that the ending Allowance for Doubtful Accounts balance should be $5,400  

Dr Bad Debt Expense $ 8,250

Cr Allowance for Uncollectible Accounts $ 8,250

Because the company already has a DEBIT balance ($2,850) in the Allowance for Doubtful Accounts  

it's necessary to register an entry that COMPENSATE ($8,250) the existing value and reflect the value estimated as bad debts ($5,400 = $8,250-$2,850).  

If the company applies the allowance method, it means that the account Allowance for Uncollectible Accounts must show as balance the % of estimated value.

Bad accounts are those credits granted by the company and there is no possibility of being charged.

"When customers buy products on credits but the company cannot collect the debt, then it's necessary to cancel the unpaid invoice as uncollectible."

One way is to directly cancel bad debts at the time it was decided that the credit is bad, the total amount reported as bad debt expenses negatively affect the income statement and the accounts receivable are reduced by the same amount, less assets .

The other way is to determine a percentage of the total amount of accounts receivable as bad debts, there are many ways to analyze accounts receivable and calculate the value of bad debts.

When the company has the percentage of uncollectible accounts, the required journal entry is Bad Expenses (debit) with Reserve for Bad Accounts (credit)

At the time of cancellation, since the expenses were recognized before, we only use the Allowance for Uncollectible Accounts (Debit)  with accounts receivable (credit), with this we are recognizing the bad credit of the company.

8 0
3 years ago
At a specific point on the demand curve for backpacks, the elasticity of demand is calculated to be -0.5.a. At that point, we wo
anzhelika [568]

Answer:

Inelastic; 5%; fall; 10%; rise

Explanation:

Price elasticity of demand is always negative for normal goods. This happens because of the law of demand, that demand falls with rise in price.

Price elasticity between 0 and 1 shows inelastic demand.

This means that there is smaller change in demand due to a greater change in price level.

Price elasticity of demand is -0.5.

If the price falls by 10%, demand will increase by 5%.

The revenue will fall, because of greater fall in price.

If the price increases by 20%, demand will fall by 10%.

Revenue will increase because of greater increase in price.

4 0
3 years ago
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bazaltina [42]

Answer:

the answer is the mass.

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2 years ago
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