Answer:
$114,000
Explanation:
Given that,
Net credit sales = $2,250,000
Opening allowance for Doubtful Accounts = $36,000
Uncollectible accounts receivable written off = $90,000
Firstly, we need to find the excess amount to be adjusted to allowance for Doubtful Accounts. It is calculated as follows:
= Uncollectible accounts receivable written off - Opening allowance for Doubtful Accounts
= $90,000 - $36,000
= $54,000
Allowance amount:
= 10% of the balance in receivables
= 0.1 × $600,000
= $60,000
Therefore, the required adjustment to the Allowance for Doubtful Accounts at December 31, 2017 is determined by summing up the excess amount and allowance amount.
= Excess amount to be adjusted to allowance for Doubtful Accounts + Allowance amount
= $54,000 + $60,000
= $114,000
Answer:
e. Business analysis
Explanation:
Based on the description being made within the question it can be said that this process is similar to the Business analysis step. This step focuses on identifying the product needs and determining the best position and solution to different product/business related problems. Many factors such as sales, costs, and profits are taken into account during this step in order to make the best decisions possible.
Answer:
Explanation:
To run a business you firstly need investors or shareholders to help or run your business with you. They should have experience as running a business is tricky and can collapse within weeks. You also need large amounts of money to promote nad hire staff etc. You should also have an idea of what you want it to be like and what growth routes it should take. Make sure you have a target market to promote your ideas to. But make sure it is all realistic as silly ideas can be very costly.
I think it is d for this question
Answer: Option A
Explanation: In simple words, substitution effect refers to the economic phenomenon which states that when price of one good rises the demand for the alternative of that particular good also rises. For example - coke and pepsi.
On the other hand, income effect states that when the price of a commodity rises, a number of consumers might find it hard to purchase due to the price exceeding their income power which further results in lower demand.
Hence from the above we can conclude that the correct option is A.
