Answer:
$33,400
Explanation:
Given that,
Accounts Receivable = $1,130,000
Allowances for Doubtful Accounts = $23,100
Estimated bad debts:
= 5% of outstanding receivables
= 0.05 × $1,130,000
= $56,500
We simply deduct the allowance for doubtful accounts balance from the estimated bad debts to record the amount of bad debt expense.
Amount of bad debt expense will the company record:
= Estimated bad debts - Allowances for Doubtful Accounts
= $56,500 - $23,100
= $33,400
Answer:
$343,000
Explanation:
Given that,
Sales revenue = $385,000
Operating expenses = $65,000
Net loss = $23,000
Gross profit:
= Net loss + Operating expenses
= - $23,000 + $65,000
= $42,000
Cost of goods sold:
= Sales revenue - Gross profit
= $385,000 - $42,000
= $343,000
Therefore, the amount of cost of goods sold for the Lucky is $343,000.
Answer:
franchises
Explanation:
A franchise is a business model where the franchisee acquires the right to a business logo, name, and model from the franchisor. The franchisor is usually an established, successful, and popular business. The franchisee gets a license to operate an independent outlet that is similar in all aspects to the franchisor's business.
The franchise business takes advantage of the franchisor brand name popularity to acquire customers and thereby increase its chances to succeed. Mcdonald and Starbucks are examples of popular franchise businesses. This business model applies to all industries. Restaurants, Gas stations, Pharmaceuticals, and other retail outlets ave embraced the franchising business model.
Answer:
good hope you're doing great!
