The information given show that the thing that will happen to the composite break-even point is that there'll be an increase in dollar sales to break even.
<h3>What is break even point?</h3>
It should be noted that a break even point simply means the point where the total revenue and the total cost are equal.
In this case, a shift in sales mix from high contribution margin to a low one has an effect. This raises the dollar sales required.
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Answer:
Here no loss would be recognized by Julian on the transfer of shares and his basis inn Apricot corporation would be $400,000.
Explanation:
In the case of transfer of share made by Julian ( from Lemon company to Apricot company ) , no loss would be recognized by him, as the loss or gain would have been recognized only when the sale was made but that didn't happened.
His basis in the Apricot corporation would be equal to his tax basis in the Lemon company, so therefore his basis is equal to $400,000.
Answer:
The accounts receivable amount expected to be collected after the write-off entry was $390,500.
Explanation:
Account Receivable Balance = $423,000
Less: Allowance Account Balance = $32,500
New Account Receivable Balance = $390,500
Since the write off entry was not made and there is an account for allowance of uncollectible account so at that the entry was made as follows:
Debit: Account Receivable $32,500
Credit: Uncollectible account expense $32,500
To record uncollectible expense.
Since we are certain that $32,500 will not received and recorded as bad debt so we simply deduct this amount from account receivable balance to derive new balance as shown above.
Answer:
Virtual.
Explanation:
Virtual means not physically existing as such but made by software to appear to do so.