Answer:
$101,293
Explanation:
$100,000 face amount + $7,000 interest to maturity ($100,000 x 7%) = maturity value less the discount for the time remaining to maturity of $5,707 ($107,000 x 8% x 8/12) = $101,293
The amount of the bad debts expense adjusting entry is:$7665.
<h3>Bad debt expenses</h3>
Using this formula
Bad debt expenses=Sales×Estimated sales percentage
Where:
Sales=$1,095,000
Estimated sales percentage=0.7%
Let plug in the formula
Bad debt expenses=$1,095,000×0.7%
Bad debt expenses= $7,665
Therefore the amount of the bad debts expense adjusting entry is:$7665.
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Answer:
Your opportunity cost of attending a game compared with the opportunity cost facing a college student 10 years ago is:
A) higher, because more games are televised today.
Opportunity costs are the cost of choosing one alternative from another.
In this case, when college students attend college football games they are unable to do other activities, not only while they are at the stadium or going to the stadium, but they are not able to purchase other goods. The cost of those alternatives that are lost are higher now because many college football games are televised now, before if you wanted to see a game you had to go to the game. So a student is now able to watch the game while doing other activities, or saving money for buying something else.
Can this change in opportunity cost account for the decline in college football attendance?
B) Yes, because these changes increase the opportunity cost of watching football games in person.
Even though opportunity costs do not involve actual cash payments, they are still important and individuals do consider them when they are choose one option over another. E.g. imagine if you had to choose between spending a considerable amount of money by attending a game (ticket, gas, beverages, etc.) or watching that game on TV and buying a few clothes instead or going on a date, etc. What option would you choose?
Answer: Increased error
Explanation: In simple words, resistance to change refers to the situation when the individuals that are going to be affected from such a change consider that as a threat.
Above all of the following options only the increased error will be implicit as it would not be detectable without checking.
Hence from the above we can conclude that the correct option is B.
Answer:
The correct answer is letter "D": trace direct-material cost to each product produced and use a predetermined application rate for conversion cost.
Explanation:
The Operation-costing system combines <em>Process Costing </em>with <em>Job costing</em>. Process costing is mostly used for mass-production undifferentiated goods so each product will be given the same cost. Job Costing, instead, is typically used for manufacturers of tailored products, thus, each product has different <em>material, direct labor, </em>and <em>overhead costs</em>.
So, <em>to determine the costs of manufactured goods under the operation-costing system, direct material should be allocated separately and the use of an application will be necessary to determine the conversion cost -the combination of direct labor and overhead.</em>
