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Elena L [17]
3 years ago
6

Cary Inc. reported net credit sales of $300,000 for the current year. The unadjusted credit balance in its Allowance for Doubtfu

l Accounts is $500. The company has experienced bad debt losses of 1% of credit sales in prior periods. Using the percentage of credit sales method, what amount should the company record as an estimate of Bad Debt Expense?
a) $2,500
b) $3,000
c) $2,980
d) $3,200
Business
1 answer:
Naily [24]3 years ago
5 0

Answer: b. $3,000

Explanation:

The company's bad debt for the current year is said to be 1% of the credit sales because this is the usual rate for the past periods.

The bad debt expense for this year is therefore:

= Bad debt percentage * Credit sales

= 1% * 300,000

= $3,000

This will then be posted to the Allowance for Doubtful Accounts.

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Anson Apparel's marketing message in the United States is one of apparel for the rugged man who spends most of his time outdoors
crimeas [40]

Answer:

Customer landscape: customers' habits, values and preferences related to rugged men. Market landscape: apparel alternatives available in the Chinese market; share market distribution; competitors brand positioning.

Explanation:

The marketing message is the result of marketing strategy based on situational conditions of the company in the US, that market is different from the Chinese market so that the strategic analysis could find as a result a different message more appealing for rugged men in China.

8 0
3 years ago
A corporation that pollutes a body of water has not met its moral minimum duty of social responsibility even if the business lat
timama [110]

Answer:

The statement is absolutely wrong.

Explanation:

The reason is that the just like humans, a company is also part of the society and so it owes a duty of care towards them. The least that an organisation can do is to compensate the stakeholders that are harmed by their operations.

In the nutshell, the animals and plants are also part of our society and they have an equal right to live on this planet as we have. The least the company can do is not harm them or if it harms them due to its negligence then it should compensate them.

8 0
4 years ago
Which of the following are characteristic s of customs and usage?
GaryK [48]

Answer:

primary source of law, oral, and repetitive

Explanation:

In legal terms, custom and usage is a doctrine widely used in commercial law, since they are a long established practice which many courts consider unwritten laws. Laws are formal and always written, but custom and usage is not formal nor written.

Usage refers to the general repetition of a certain act, while custom refers to the rules that result from such repetitions and usage.

5 0
3 years ago
Just for the​ Halibut, Inc. designs and manufactures custom made fishing rods. On June​ 1, it had one job started with a beginni
Nataly [62]

Answer:

Price= $850,5

Explanation:

With the following information we need to calculate the price of the job:

Direct materials issued to production<= $60

Direct labor= $75

Manufacturing overhead= $99*direct hour=99*5=$495

Direct hours=$75/$15hour= 5hours

Total cost= 60+75+495= $630

Price= total cost*1,35=$850,5

3 0
3 years ago
Which of the following describes an externality and which does​ not? Explain the difference. a. A policy of restricted coffee ex
luda_lava [24]

Answer: The correct answer is "A. Choice​ (b) describes an externality. The advertising blimp imposes a cost on the motorist that is not accounted for in the market price of advertising. The restriction on coffee exports has market​ effects, which are not externalities. ".

Explanation: Choice​ (b) describes an externality. The advertising blimp imposes a cost on the motorist that is not accounted for in the market price of advertising. The restriction on coffee exports has market​ effects, which are not externalities.

An externality is a situation in which the costs or benefits of producing or consuming a good or service are not reflected in its market price despite having an external impact.

In case A, the situation is reflected in the market price, while in case B, the external situation, despite having an impact, does not affect the market price.

8 0
3 years ago
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