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KonstantinChe [14]
2 years ago
11

E6-20 (Algo) Inferring Bad Debt Expense and Determining the Impact of Uncollectible Accounts on Income (Including Tax Effects) a

nd Working Capital LO6-2 A recent annual report for RVC contained the following information (dollars in thousands) at the end of its fiscal year: Year 2 Year 1 Accounts receivable $ 9,092,000 $ 8,633,000 Allowance for doubtful accounts (1,020,000 ) (565,000 ) $ 8,072,000 $ 8,068,000 A footnote to the financial statements disclosed that uncollectible accounts amounting to $827,000 and $436,000 were written off as bad debts during year 2 and year 1, respectively. Assume that the tax rate for RVC was 35 percent. Required: 1. Determine the bad debt expense for year 2 based on the preceding facts. (Hint: Use the Allowance for Doubtful Accounts T-account to solve for the missing value.) (Enter your answers in thousands not in dollars.) 2. Working capital is defined as current assets minus current liabilities. Would the working capital be affected by the write-off of an uncollectible account? 3. Would the net income be affected by the $827,000 write-off during year 2?
Business
1 answer:
SVETLANKA909090 [29]2 years ago
8 0
Theres is to much writing sorry hope this helps
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If short-run marginal cost and average variable cost curves for a competitive firm are given by SMC = 2 + 4Q, and AVC = 2 + 2Q,
sukhopar [10]

Answer:

units of output  = 2 units

fixed cost = 8

Explanation:

given data

SMC = 2 + 4Q

AVC = 2 + 2Q

to find out

how many units of output will it produce at a market price and what level of fixed cost will this firm earn zero economic profit

solution

we know here that  under perfect competition

so at the equilibrium here Price (P)  will be = MC

P = MC = 10

and

SMC = 2 + 4Q ,

P = 2 + 4Q

10 = 2 + 4Q

Q = 2 units

and

at zero economic profit we get

TR = TC    

TR = P × Q

TR = 10 × 2

TR = 20

so

TC = TFC + TVC

20 = TFC + 12    

TFC  = 8

because here [ TVC = AVC × Q ]

[ TVC = (2 + 2 × 2) × 2 ]  

[ TVC = 12 ]

8 0
3 years ago
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Answer:

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