Answer:
Balance of allowance for doubtful accounts after Bad debt Expense is $2700
Explanation:
given data
Cash sales= $153,000
Credit sales = $453,000
Selling and administrative expenses = $113,000
Sales returns and allowances= $33,000
Gross profit = $493,000
Accounts receivable = $140,000
Sales discounts = $17,000
doubtful accounts credit balance = $1,500
solution
we know here Total Bad Debit = 3% of accounts receivable
that is Total Bad Debit = 0.03 × $140,000
Total Bad Debit = $4200
so here allowance for doubtful account credit balance = $1500
so
Balance of allowance for doubtful accounts after Bad debt Expense will be
Balance of allowance for doubtful accounts = $4200 - $1500
Balance of allowance for doubtful accounts = $2700
Mhm I would say false but just wait for someone else to answer I’m not sure.
Answer:
Option D. $80,000
Explanation:
The Fair Market Value that Jane has paid of land is $50,000. The liability of $30,000 is attached with this land which Jane has taken as a payment to Will. So the total payment that Will has received = $50,000 + $30,000 = $80,000.
So this $80,000 is the fair market value of land that will be realized.
The firm should produce more output to maximize its profit. In a perfectly competitive industry, firms will have marginal revenue equal to price. Therefore, the marginal revenue is $25.
In macroeconomics, an industry is a branch of an economic system that produces a closely-related set of raw materials, items, or offerings. For instance, one would possibly refer to the wooden enterprise or to the insurance industry. While comparing a single institution or agency, its dominant supply of revenue is generally used by industry classifications to categorize it within a particular enterprise. As an example, the global widespread industrial classification (ISIC) – used at once or thru derived classifications for the professional data of most countries internationally – classifies "statistical devices" via the "monetary activity wherein they especially have interaction". Enterprise is then defined as a "set of statistical gadgets which can be classified into the identical ISIC category". however, a single business need not belong just to one enterprise, which includes when a big business (regularly known as a conglomerate) diversifies throughout separate industries.
Learn more about industry here
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In a perfectly competitive industry, the market price is $25. A firm is currently producing 10,000 units of output, its average total cost is $28,its marginal cost is $20, and its average variable cost is $20. Determine whether the following statements are true or false:
