Answer:
$72,600
Explanation:
Ending balance of the account receivable can be calculated by adding credit sales in beginning balance and deducting any account receivable written-off.
As we have the ending balance of account receivable, we need to calculate credit sales by following formula:
Account receivable Ending Balance = Account receivable Beginning Balance + Credit Sales - Bad Debt - Ending Balance
$320,000 = $260,000 + Credit Sales - $12,600
$320,000 = $247,400 + Credit Sales
Credit Sales = $320,000 - $247,400 = $72,600
Answer:
No penalty
Explanation:
The tax penalty is as follows
The HSA i.e. health saving account. It is opened so that the expenses related to the medical could be paid and the high health plan i.e. deductible (HDHP) would not covered here
In the case when rules are not followed so there is a penalty of 20%
Given that the amount taxable is $15,000
So here the penalty would be
= $15,000 × 20%
= $3,000
But since Marilyn age is 66 so there is no penalty as the penalty would be applied till the age of 65
Answer:
Increase by 5%.
Explanation:
Given that,
cross-price elasticity of demand between goods X and Y = 4
Percentage increase in consumption of good X = 20 %
cross-price elasticity of demand = Percentage change in quantity demanded for good X ÷ Percentage change in price of good Y
4 = 20 ÷ Percentage change in price of good Y
Percentage change in price of good Y = 20 ÷ 4
= 5%
Therefore, the price of good Y must be increase by 5% in order to increase the consumption of good X by 20 percent.
An investor is considered to have substantial influence over an investee if they possess between 20% and 50% of the voting shares.
Equity accounting is used to record and account for equity investments made by a firm when it holds 20% or less of the voting shares of another company.
According to the number of shares it owns in the investee company, the investor records the investee's earnings in its accounts.
In other words, the initial investment grows in proportion to the earnings earned.
The investee is a subsidiary of the investor since it has the power to control influence if it holds more than 50% of the voting shares.
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