It would be an informative resource
Answer:
Waco Travel Agency
Journal entry
Date Account and explanation Debit Credit
Dec 31 Bad debt expense (800,000 * 1%) $8,000
Allowance for uncollectible accounts $8,000
(To record uncollectible account expense)
Waco Travel Agency
Balance Sheet
<u><em>Current assets</em></u>
Account receivable $93,000
Less: Allowance for uncollectible account <u>($8,870) </u>---- ($8,000 + $870)
<u>$84,130</u>
Answer:
<h2>The answer in this case would be option a. or feel more wealthy, so the quantity of goods and services demanded rises. </h2>
Explanation:
- As a common consumer psychology,as the price of any good or service decreases,any rational consumer or buyer feels more wealthy compared to before as the purchasing power of the consumers or buyers pertaining to that particular good or services has increased,everything else held constant.
- Purchasing power of any good or service is generally reflected by the purchasing or buying capacity of that good or service with the amount of money that a consumer or buyer has at his or her disposal.
- As the price of any good or service decreases,it becomes cheaper to the consumer,again everything else considering constant.In other words,it increases the purchasing power or capacity of the consumers or buyers.Therefore,the typical consumer or buyer will prefer or demand more of that particular good or service thereby,increasing its quantity demanded due to a price reduction.
Answer:
50,000 units are required to break even
Explanation:
Eclypso Company
Product X Product Y
Unit selling price $10.00 $10.00
Less
Unit variable costs:
Manufacturing $ 6.00 $ 7.00
Selling 1.00 1.00
Total variable costs $ 7.00 $ 8.00
Contribution Margin per unit 3 2
Monthly fixed costs are as follows:
Manufacturing $ 90,000
Selling and administrative 50,000
Total fixed costs $140,000
Weighted Contribution Margin per unit = ($3 * 80% + $ 2 * 20%)= 2.4+ 0.4=
$ 2.8
Combined Break Even Volume = Fixed Costs/ Weighted Contribution Margin Per unit
Combined Break Even Volume = $ 140,000/ 2.8=50,000
Answer:
$3,180
Explanation:
Monthly salary would be the base salary = $2500
Since he would earn 2% of all orders, calculate the dollar value of the commission when total orders amount to $34000;
Commission = 2% *34000 = $680
His total pay would be calculated by adding the base salary to the commission amount;
Total pay = base salary + commission
Total pay = $2500 + $680
Total pay = $3,180
