Answer:
Net amount of accounts receivable that should be included in current assets:
= Accounts receivable - Allowance for doubtful accounts
= $256,000 - $8,000
= $248,000
The journal entry is as follows:
Bad debt expense[$8,000 - $1,000] A/c Dr. $7,000
To Allowance for doubtful accounts $7,000
(To record the bad debt expense)
Answer:
3) The only bank in a small town
Explanation:
By definition a monopoly occurs when there is only one supplier in the market for a specific good or service. In this case, if there is only one bank that works in a small town, then that bank has a monopoly of all the town's residents that require banking services. If any resident doesn't like that specific bank, they need to go to another town in search for banking services.
Answer:
the number of students to register for break even is 40 students
Explanation:
The computation of the number of students to register for break even is as follows
Let us assume the break even point be X,
Now as we know that
At break even
Total Expense = Total Revenue
$6,400 + $15 × X = $175 × X
160 × X = $6,400
So,
X = $6,400 ÷ 160
= 40 students
hence, the number of students to register for break even is 40 students
A barometer of short-term interest rates and one that is therefore considered the most volatile interest rate in the US economy is the federal funds rate.
An interest rate tells you ways excessive the price of borrowing is, or high the rewards are for saving. So, in case you're a borrower, the interest fee is the amount you are charged for borrowing cash, shown as a percent of the entire quantity of the loan.
As RBI hiked repo charge, FD quotes are anticipated to rise in 2022 and 2023. Banks and other NBFCs have already started steadily raising FD quotes after RBI made it clear that repo prices will exchange.
As interest rates circulate up, the cost of borrowing turns extra high-priced. because of this demand for decrease-yield bonds will drop, inflicting their fee to drop. As hobby prices fall, it becomes easier to borrow money, and lots of agencies will trouble new bonds to finance growth.
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FALSE
because hubert being a competitive firm, if it decreases the price of engine, demand increases and thus production increases. Therefore revenue also increases.
