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insens350 [35]
3 years ago
9

HRH Collection Agency keeps a collection fee of 25% of any amounts collected. How much did the agency collect on a bad debt if t

he agency forwarded $2490 to a client?
Business
1 answer:
Kazeer [188]3 years ago
5 0

Answer:

The agency collected $ 622.5.

Explanation:

Since HRH Collection Agency keeps a collection fee of 25% of any amounts collected, to determine how much did the agency collect on a bad debt if the agency forwarded $ 2490 to a client, the following calculation must be performed:

2490 x 0.25 = X

622.5 = X

Therefore, the agency collected $ 622.5.

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Which of the following accounting strategies (for financial reporting purposes) is the least likely for a firm that is currently
jeyben [28]

Using straight-line depreciation.

Changing to FIFO

Using the weighted average method for capitalizing interest during times of reduced interest rates, rather than the specific method.

Changing to the successful efforts method of accounting for natural resource exploration costs.

Changing to the successful efforts method of accounting for natural resource exploration costs.

<u>Explanation:</u>

The particular technique initially underwrites the enthusiasm on explicit obligation. With financing costs on the decay, enthusiasm on lower rate obligation is promoted and more is expensed, comparative with the weighted normal technique, which underwrites at the normal rate over all obligation.

The weighted normal strategy would underwrite more enthusiasm on more established (higher loan cost) obligation, in this way diminishing the present measure of premium cost and expanding income. Expanding profit lessens the danger of rebelliousness for this firm.

4 0
3 years ago
The process of determining the probability that potential customers will not pay is called:
DENIUS [597]

The process of determining the probability that potential customers will not pay is called <u>"credit analysis".</u>


Credit analysis is a sort of analysis an investor or bond portfolio chief performs on organizations or other obligation issuing substances to gauge the element's capacity to meet its obligation commitments. The credit investigation looks to recognize the suitable dimension of default chance related with putting resources into that specific substance.  

The result of the credit analysis will figure out what hazard rating to appoint the obligation guarantor or borrower. The hazard rating, thus, decides if to stretch out credit or advance cash to the obtaining substance and provided that this is true, the sum to loan.

5 0
3 years ago
When Heinz introduced its ketchup globally, it first had to deal with the fact that ketchup is not a household staple outside th
yuradex [85]

Answer:

<em>Informative advertising</em>

Explanation:

<em>Informative advertising</em> is an advertising modality aimed at publicizing relevant or specific data or facts as necessary. This information is clearly detailed and in most cases is verifiable and measurable.

In the world of marketing, the use of informative advertising is usually related to the need to make known the appearance of a new product or an update or innovation of an existing one.

The advertising campaigns of this modality share a series of characteristics:

- They seek to attract new consumers through the presentation and description of the product.

- This description is usually exhaustive when presenting the benefits of the product and giving reasons for its consumption.

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4 0
4 years ago
Pennsylvania Company supplied the following information:
V125BC [204]

Answer:

$12,620

Explanation:

Cost of Direct materials of Job 99 = $70 x 100 = $7,000

Cost of Direct labour of Job 99 = $5 x 100 = $5,000

Overhead Expenses of Job 99 = $62 x 10 = $620

Total job cost for Job 99 = 7000 + 5000 +620 = $12,620

6 0
3 years ago
On July 1, Mabel and Pierre formed a partnership, agreeing to share profits and losses in the ratio of 4:6, respectively. Mabel
MrMuchimi

Answer:

C. $50,000

Explanation:

The computation of the Mabel's capital account after formation of the partnership account is shown below:

Total contribution by both the partners equals to

= Mabel contribution + Pierre contribution

= $25,000 + $50,000

= $75,000

Mabel contribution = Total contribution × Mabel share ÷ total share

                                = $75,000 × 4 ÷ 10

                                = $30,000

And, the land was sold for $50,000

So, Mabel share on the sale of land = $50,000  × 4 ÷ 10 = $20,000

Total amount recorded = $30,000 + $20,000 = $50,000

8 0
4 years ago
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