Answer:
A credit entry of $96,000
Explanation:
When a company makes sales on account, debit accounts receivable and credit sales. Based on assessment, some or all of the receivables may be uncollectible.
To account for this, debit bad debit expense and credit allowance for doubtful debt. Should the debt become uncollectible (i.e go bad), debit allowance for doubtful debt and credit accounts receivable.
Given that Past experience indicates that the allowance should be 10% of the balance in receivables
Allowance = 10% * $600,000
= $60,000
Amount written off of $90,000 would have made the balance in the allowance for doubtful debts to
= $90,000 - $54,000
= $36,000 (Debit)
However, the balance in the account at the end of the year should amount to $60,000 hence the adjustments required
= $60,000 + $36,000
= $96,000 (credit)
A monopolistically competitive firm is currently producing the profit-maximizing level of output. If the price of a variable input increases, the firm’s average total cost and marginal cost curves will shift upward.
Option C
<u>Explanation:
</u>
Monopolistic competition is a sort of incomplete competition that requires multiple companies to sell a product which is distinct and thus not ideal alternatives.
Monopoly competition is a framework of the market that integrates monopoly aspects and market competition. A dynamic monopoly market basically has freedom of entering and exiting, but businesses can distinguish between their goods.
We get an inelastic curve of demand and therefore can set the prices. Nevertheless, because the right to participate would allow supernormal incentives to more businesses to gain market share, which will result in regular long-term profits
.
The answer for the question is the letter B) advanced graphics
Henry Ford was an inventor during the Industrial Revolution, who had ideas that many workers followed. In addition to inventing the Model T and revolutionizing the way Americans transported themselves, he also contributed by creating the assembly line. To mass produce a certain item in the most efficient manner, each worker specialized in making one part, and then would pass it along to the next worker, who would be specialized in making the next part, and so on and so forth.
