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KatRina [158]
3 years ago
7

Kristen Lu purchased a used automobile for $16,750 at the beginning of last year and incurred the following operating costs:

Business
1 answer:
Molodets [167]3 years ago
4 0

Answer:

The average operating cost is $0.46 per mile

In deciding whether to to her use her own car or rent a car the costs are analysed below:

Variable operating cost is a relevant cost

Depreciation is not relevant as it is already cost and also it is sunk cost

insurance is not relevant as well

automobile tax and license is not relevant as it would be paid regardless of the option chosen

Explanation:

The average cost comprises of the variable operating cost per mile as well as the fixed operating cost per mile

variable operating cost per mile is $0.06

fixed cost operating cost=fixed costs/total miles driven=($3,350+$1,700+$900+$450)/16000=$6400 /16000=$0.40

average cost per mile=$0.06+$0.40=$0.46

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Answer:

Adjusting journal entry:

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Explanation:

accounts receivable balance = $380,000

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credit balance allowance for doubtful accounts account = $3,800, and it must increase to $22,800 ⇒ $22,800 - $3,800 = $19,000

Adjusting journal entry:

Dr Bad debt expense 19,000

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Allowance for doubtful accounts is a contra asset account with a credit balance that reduces the value of accounts receivable.

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3 years ago
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Incomplete question

The missing part (which is the beginning)

The nation of Newbie is establishing its monetary system and is designing its currency. The first proposal is to issue the Newbie Nugget (their new currency) in only 3 denominations of paper bills (100, 500 and 1000 Newbie bills) but no coinage.

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It is not easily divisible

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