#8 is C. Unfortunately I do not know #9.
Answer:
c. $24,500
Explanation:
The allowance for doubtful accounts is a contra-asset account that records the amount of receivables expected to be uncollectiblea, makes a reduction of the total amount of accounts receivable appearing on a company’s balance sheet. There are two way to estimate uncollectible accounts: the percentage of sales method and the accounts receivable aging method.
ABC Company uses the percentage of sales method - application a flat percentage to the total amount of net credit sales for the period.
Estimated uncollectible = 3% x $750,000 = $22,500
The company establishes an allowance for doubtful accounts for $22,500 while simultaneously reporting $22,500 in bad debt expense.
Before adjusting on December 31, 2004, the Allowance for Doubtful Accounts had a credit balance of $2,000.
The balance in the allowance for doubtful accounts after adjustment is $22,500 + $2,000 = $24,500
Low price.discount sale improve market.
Answer:
$708,000
Explanation:
The computation of Investment in Evan Company balance is shown below:-
Purchase of Evan stock = $600,000
Book Value of Evan Stock = Net assets - Given percentage
= $1,200,000 x 40%
= $480,000
Goodwill = Purchase of Evan stock - Book Value of Evan Stock
= $600,000 - $480,000
= $120,000
Life of Goodwill is Indefinite
Annual Amortization is Zero
Cost = $600,000
Income Accrued 2017 = Net income × Given percentage
= $140,000 x 40%
= $56,000
Dividend 2017 = Cash dividend × Given percentage
= $50,000 x 40%
= $20,000
Income Accrued 2018
= $140,000 x 40%
= $56,000
Dividend 2018
$50,000 x 40%
= $20,000
Income Accrued 2019
= $140,000 x 40%
= $56,000
Dividend 2019
$50,000 x 40%
= $20,000
Equals Investment in Evan, 31/12/2019 = Purchase of Evan stock + Income Accrued 2017 - Dividend 2017 + Income Accrued 2018 - Dividend 2018 + Income Accrued 2019 - Dividend 2019
= $600,000 + $56,000 - 20,000 + 56,000 - 20,000 + 56,000 - 20,000
= $708,000
The question wants us to group the types of shopping in to different categories
- Appliances are: shopping goods
- Automobile battery jumpstart services are specialty
- Cemetery plot are unsought goods
What are shopping goods?
They are goods that are more expensive than the convenience goods. They need one to shop for them. Examples are appliances.
<h3>What are specialty goods?</h3>
They are the types of goods that people would refuse to take substitutes for. They search extensively for them.
<h3>What are unsought goods?</h3>
This refers to goods to there are rarely need for people to request for them An example would be funeral services.
Read more on goods here: brainly.com/question/24373500
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