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vesna_86 [32]
3 years ago
9

Determine the amount to be added to Allowance for Doubtful Accounts in each of the following cases and indicate the ending balan

ce in each case.
(a) Credit balance of $300 in Allowance for Doubtful Accounts just prior to adjustment. Analysis of Accounts Receivable indicates uncollectible receivables of $8,500.
(b) Credit balance of $500 in Allowance for Doubtful Accounts just prior to adjustment. Uncollectible receivables are estimated at 2% of credit sales, which totaled $1,000,000 for the year.
Business
1 answer:
Lesechka [4]3 years ago
7 0

Answer:

a. <em>Credit balance in the Allowance for Doubtful Accounts and already balance in Allowance account = $300 </em>

<em>Estimated Doubtful accounts and balance maintained with Allowance for Doubtful Accounts= $8,500</em>

<em />

Amount added to the Allowance for Doubtful Accounts = $8,500 - $300

Amount added to the Allowance for Doubtful Accounts = $8,200

Ending balance maintained with Allowance for Doubtful Accounts = $8,500

b.<em> Credit balance in the Allowance for Doubtful Accounts and already balance in Allowance account = $500 </em>

<em>Estimated Doubtful accounts and balance maintained with Allowance for Doubtful Accounts = $1,000,000 * 2% = $20,000</em>

<em />

Ending balance maintained with Allowance for Doubtful Accounts = $20,000 + $500 = $20,500

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Rufina [12.5K]

List QuickBooks task stores information about customers, vendors, employees, services, and more.

vendors:

  • A vendor, sometimes referred to as a supplier, is a person or business that sells goods or services to another party in the chain of economic production.
  • A vendor is an individual or company that buys products and services from distributors and resells them to customers or other companies. Manufacturers, wholesalers, retailers, service and maintenance companies, independent vendors, and trade show representatives make up the five different categories of vendors.
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8 0
2 years ago
You have a portfolio that is invested 11 percent in Stock R, 56 percent in Stock S, and the remainder in Stock T. The beta of St
Kruka [31]

Answer:

The beta of stock T is 1.82

Explanation:

The portfolio beta is made up of the weighted average of the individual stock betas in the portfolio.

The formula for portfolio beta is,

Portfolio beta = wA * beta of A + wB * beta of B + ... + wX * beta of X

The weight of stock T in the portfolio is = 1 - (0.11 + 0.56)   = 0.33 or 33%

Let beta of Stock T be x. The beta of Stock T is:

1.47 = 0.11 * 0.84  +  0.56 * 1.39  +  0.33 * x

1.47 = 0.0924 + 0.7784 + 0.33x

1.47 - 0.0924 - 0.7784 = 0.33x

0.5992 / 0.33 = x

x = 1.815 rounded off to 1.82

3 0
3 years ago
Read 2 more answers
Suppose that the market demand curve for bean sprouts is given by P = 1,660 - 4Q, where P is the price and Q is total industry o
a_sh-v [17]

Answer:

In equilibrium, total output by the two firms will be option e= 300.  

Q = q_{1} + q_{2}

Q = 100 + 200

Q = 300

Explanation:

Data Given:

Market Demand Curve = P = 1660-4Q

where, P = price and Q = total industry output

Each firm's marginal cost = $60 per unit of output

So, we know that Q =  q_{1} + q_{2}

where q_{} being the individual firm output.

Solution:

P = 1660-4Q

P = 1660- 4(q_{1} + q_{2})

P = 1660 - 4q_{1} - 4q_{2}

Including the marginal cost of firm 1 and multiplying the whole equation by q_{1}

Let's suppose new equation is X

X =  1660q_{1} - 4q_{1} ^{2} - 4q_{1}q_{2} - 60q_{1}

Taking the derivative w.r.t to q_{1}, we will get:

X^{'} = 1660 - 8q_{1} - 4q_{2} - 60 = 0

Making rearrangements into the equation:

8q_{1} + q_{2} = 1660 - 60

8q_{1} + q_{2} = 1600

Dividing the whole equation by 4

2q_{1} +q_{2} = 400

Solving for q_{1}

2q_{1} = 400 - q_{2}

q_{1} = 200 - 0.5 q_{2}  

Including the marginal cost of firm 1 and multiplying the whole equation by q_{2}

P = 1660 - 4q_{1} - 4q_{2}

Let's suppose new equation is Y

Y =  1660q_{2} - 4q_{1}q_{2} -4q_{2} ^{2} - 60q_{2}

Pugging in the value of q_{1}

Y =  1660q_{2} - 4q_{2}(200 - 0.5 q_{2}) -4q_{2} ^{2} - 60q_{2}

Y =  1660q_{2} - 800q_{2} +2q_{2} ^{2} -4q_{2} ^{2} - 60q_{2}

Y =  1600q_{2} - 800q_{2} -2q_{2} ^{2}

Taking the derivative w.r.t q_{2}

Y^{'} = 1600 - 800 - 4q_{2} = 0

Solving for q_{2}

4q_{2} = 800

q_{2} = 200

q_{1} = 200 - 0.5 q_{2}

Plugging in the value of q_{2} to get the value of q_{1}

q_{1} = 200 - 0.5 (200)

q_{1} = 200 - 100

q_{1} = 100

Q = q_{1} + q_{2}

Q = 100 + 200

Q = 300

Hence, in equilibrium, total output by the two firms will be option

e= 300.

5 0
3 years ago
If the price elasticity of demand for a product is -2.5, then a price cut from $2.00 to $1.80 will _________ the quantity demand
UkoKoshka [18]

If the price elasticity of demand for a product is -2.5, then a price cut from $2.00 to $1.80 will <u>increase </u>the quantity demanded by about  <u>2.5%</u>.

Price elasticity of call for is a measurement of the trade in the intake of a product on the subject of exchange in its price. Expressed mathematically, it's miles: charge Elasticity of demand = percent trade-in quantity Demanded / percentage trade-in rate.

we are saying a great is price elastic whilst growth in prices causes a bigger % fall in demand. e.g. if fee rises 20% and demand falls 50%, the PED = -2.five. Examples consist of Heinz soup.

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6 0
2 years ago
Jasper makes a $31,000, 90-day, 6.5% cash loan to Clayborn Co. The amount of interest that Jasper will collect on the loan is:__
pochemuha

Answer:

the amount of interest that is collected is $503.75

Explanation:

The computation of the amount of interest that is collected is shown below:

= Cash loan × number of days ÷ total number of days × rate of interest

= $31,000 × 90 days ÷ 360 days × 6.5%

= $503.75

Hence, the amount of interest that is collected is $503.75

This is the answer but the same is not provided in the given options

We simply applied the above formula so that the correct value could come

And, the same is to be considered

4 0
2 years ago
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