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notka56 [123]
3 years ago
15

Allegheny Company ended Year 1 with balances in Accounts Receivable and Allowance for Doubtful Accounts of $58,000 and $2,700, r

espectively. During Year 2, Allegheny wrote off $4,800 of Uncollectible Accounts. Using the percent of receivables method, Allegheny estimates that the ending Allowance for Doubtful Accounts balance should be $4,400. What amount will Allegheny report as Uncollectible Accounts Expense on its Year 2 income statement
Business
1 answer:
MrRa [10]3 years ago
4 0

Answer:

The amount of the allowance for the year to be reported in income statement is $6,500.

Explanation:

The amount of the allowance for the year to be reported in income statement can be calculated as follows:

Allowance for the year to be reported in income statement = Ending ending Allowance for Doubtful Accounts balance + Uncollectible written off during the year - Opening Allowance for Doubtful Accounts balance = $4,400 + $4,800 - $2,700 = $6,500

Therefore, the amount of the allowance for the year to be reported in income statement is $6,500.

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Answer: Monetary and fiscal policies

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These two can be explained as follows :-

1. Monetary policy refers to the decisions taken by the govt. to stabilize economy by adjusting the interest rates on short term borrowings or by changing the supply of money in the economy as per the need.

2. Whereas in fiscal policy federal govt. use tax collection and expenditure control for coping with depression or recession.

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3 years ago
Suppose the United States is currently producing 200 tons of hamburgers and 60 tons of tacos and Mexico is currently producing 4
4vir4ik [10]

Answer:

Explanation:

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United States' opportunity cost for producing 1 ton of hamburgers

= \frac{60}{200}

= 0.3

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= \frac{200}{60}

= 3.33

So we see that US has a lower opportunity cost in producing hamburgers, so it has a comparative advantage in producing hamburgers.

Mexico is producing 40 tons of hamburgers and 50 tons of tacos.

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= \frac{50}{40}

= 1.25

Mexico's opportunity cost of producing a ton of tacos

= \frac{40}{50}

= 0.8

So we see that Mexico has a lower opportunity cost in producing tacos, so it has a comparative advantage in making tacos.

Since US specializes in making hamburgers, it will produce 200 tons of hamburgers and 0 tons of tacos.

Mexico specializes in making tacos, it will produce 50 tons of tacos and 0 tons of hamburgers.

5 0
3 years ago
The definition of internal control developed by the Committee of Sponsoring Organizations (COSO) includes controls related to th
Lina20 [59]

Answer:

A. Compliance with applicable laws and regulations.

Explanation:

The definition of internal control developed by the Committee of Sponsoring Organizations (COSO) includes controls related to the reliability of internal and external reporting, the effectiveness and efficiency of operations, and Compliance with applicable laws and regulations.

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Diana is running a successful remarketing campaign. She wants to expand her reach with other targeting options. While creating a
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Answer:

Similar audiences uses the existing users list.

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3 years ago
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