Answer:
Dr. Bad Debt Expense $5,470
Cr. Allowance for uncollectible accounts $5,470
Explanation:
The Allowance method requires to recognize the estimated bad debt expense int he period of sale. For this purpose an adjusting entry is made using an estimed percentage value of sales as uncollectible accounts.
Allownace for Uncollectible accounts = $547,000 x 1% = $5,470
Answer:
partial measure
Explanation:
Based on the information provided it can be said that the kind of productivity measure that can be used would be a partial measure. Partial Productivity measure relates output to a single input unit. For example, capital productivity deals with output per unit of capital while energy productivity relates output per joule of energy used. In this scenario, we would need labor productivity which is output per hour worked.
The income elasticity of demand is 1 which shows that if the prices are lowered the demand will increase. The quantity demanded will change as the price changes.
<h3>What is demand?</h3>
Demand is the want of a product this is influenced by the price and supply of the product. If the price of a product is increased the demand for the product will fall and if the price is lowered the demand will increase.
The demand is increased if prices are lowered and vice versa when the income elasticity of demand is positive which is the case for health care.
Learn more about Elasticity of Demand at brainly.com/question/27300772
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Answer:
Kingbird, Inc
Balance Sheet (Partial) as on December 31, 2020
Fixed Assets
Building $1,150,000
Accumulated Depreciation <u>($646,000)</u>
Net book value of Building $504,000
Goodwill $450,000
Coal mine $495,000
Accumulated Depletion <u>($109,000)</u>
Net Value of Coal mine <u>$386,000</u>
Total Fixed Assets <u>$1,340,000</u>
Explanation:
Fixed assets are all those asset which will be kept by the company more than one year. It is not converted to cash / Sold before one year time. If Company has the intention to sale the asset within one year then it will be classified as current asset.
All the assets are classified as the fixed assets. The depreciation and Depletion are contra asset accounts, these are adjusted against the relevant Assets and Net book value of that assets is reported on the balance sheet.
Answer:
a. All of the answers are correct
Explanation:
For a company it is equally vital to meet the number of orders and to maintain the quality of their products.
For this, there are certain measures to ensure quality:
- No production is possible in a practical scenario with zero defects, thus a standard defined percentage of defects shall be maintained, and defects shall not increase from such defined percentage.
- Number of on-time deliveries shall be taken care of, as for maintaining quality the company can not increase time to produce such products, and shall meet the deliveries.
- Often after a sale, there is a customer feedback form, which helps the company know about the customer satisfaction and detailed report of their products. This enhances the quality review of the product.
- Sometimes there is a rework performed on the units produced as is defective, and the defects can be removed from rework, thus amount spent on rework, shall ensure the quality of products delivered to customers.
Therefore, correct option is:
a. All of the answers are correct.