Answer:
10.14
Explanation:
Velocity of money measures the rate at which money changes hands or is exchanged in an economy.
Velocity = (Price × aggreagrate income) / money supply
(1.69 × $15000) / $2500 = 10.14
Answer:
15,351.00 unfavourable
Explanation:
<em>Material quantity variance occurs when the actual quantity used to achieved a given level of output is more or less than the standard quantity.</em>
<em>It is determined by the difference between the actual and standard quantity of material for the actual level of output multiplied by the the standard price</em>
gram
300 units should have used (300× 4.6) 1380
but did used <u>2,400</u>
1020
Standard price ×<u> 15.05</u>
Material quantity variance 1<u>5,351.00</u> unfavourable
<span>Economic growth is an increase amount of services or/ and goods produced by head of population over a period of time</span>
Answer:
$37.80
Explanation:
Particulars Amount Calculations
Direct materials $7.00
Handling $2.80 ($3,500/5,000*4 parts)
Assembling $9.60 ($12,000/5,000*4 parts)
Packaging <u>$18.40 </u> ($5,750/1,250*4 parts)
Total manufacturing cost per chair <u>$37.80</u>
Answer:
Debit : Allowance for doubtful debts = $2900
Credit : Accounts receivables = $2900
Explanation:
An account for allowance for doubtful debts is a contra account created, predicting that certain debtors will not be able to pay for the goods and services they purchased. This may be based on historical experiences. Doubtful debts aren’t officially uncollectible, it is simply an estimation made, but bad debts are, where you have officially written off a certain accounts receivable as uncollectible.
An allowance for doubtful debts is recorded in the balance sheet, directly under accounts receivables. Bad debts are recorded as an expense in the income statement. When there is an allowance for doubtful debts, the bad debts account is debited and the allowance for doubtful debts account is credited.
According to the question, the balance was $2,200 (Cr) in the allowance for doubtful debts account. The initial expected amount for allowance for doubtful debts was $5100 (Cr). This means that the difference was the amount that was declared as uncollectible and officially written off i.e. bad debts. Thus $2900 ($5100 -$2200) would have been confirmed as bad debts.
The entry to record the above transaction is:
Debit : Allowance for doubtful debts = $2900
Credit : Accounts receivables = $2900