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Nitella [24]
3 years ago
13

The graph represents the supply and demand curve for chocolates in the economy. Identify the price and quantity at which there w

ill be
equilibrium in the chocolate market.​

Business
1 answer:
Zielflug [23.3K]3 years ago
3 0

Answer:

Equilibrium Price - 3

Equilibrium Quantity - 3

Explanation:

The price at which there will be equilibrium in the chocolate market is 3 units while the corresponding quantity is also 3 units.

<u>The equilibrium price and quantity represents the price and quantity where the demand for a product is equal to the supply for the same product respectively.</u>

<em>In the graph, the point of intersection of the demand and the supply curve represents the equilibrium point. At this point, the price on the Y axis is 3 units while the corresponding quantity on the X axis is also 3 units.</em>

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Answer:

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                 Allowance for doubtful accounts      5300

                Accounts receivable                                                    5300

                Accounts receivable                            1800

                 Allowance for doubtful accounts                                1800

                cash                                                        1800

                 Accounts receivable                                                    1800

Calculating the ending balance of accounts receivable and unadjusted ending balance of allowance for doubtful accounts:

                  particulars                                                             Amount ($)

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                 Add: Net credit sales                                               944,000

                 less :  Collections                                                     908,000

                 Write-offs                                                                       5,300

                  Add: Reinstated amount                                              1800

                 less:  Collections                                                            1800

                  Ending  balance of accounts receivable                169700

                   particulars                                                             Amount ($)

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                 less :  Write-offs                                                        5300

                 Add: Reinstated amount                                           1800

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                 allowance of  doubtful accounts

Preparing journal entry to record bad debt

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           Bad debt expense ( 169700*8%) - 7870  12789

               allowance of  doubtful accounts                            12789

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A $1,000 face value bond has a coupon rate of 7 percent, a market price of $989.40, and 10 years left to maturity. Interest is p
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Answer:

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Explanation:

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Given that,  

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Wright Company recently petitioned for bankruptcy and is now in the process of preparing a statement of affairs. The carrying va
Nady [450]

Answer:

the total amount owed to general unsecured creditors is $71,000

Explanation:

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3 0
3 years ago
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