Answer:
Sales $480,000
<em>Less: Expenses (Bal Figure) $419,500</em>
Less: Write Off Account <u>$7,700 </u>
Net Income <u>$52,800</u>
If Allowance Method Is Used
Sales $480,000
Less: Expenses $<em>419,500</em>
Less: Write Off Account (1.5% of 480,000) <u>$7,200</u>
Net Income <u>$53,300
</u>
Answer: Option A
Explanation: In simple words, elasticity refers to the change in demand for a product due to change in its price.
If the price for the gasoline remains high in the long run then at one point substitution effect will come into play and consumers will shift their demand to the alternatives available.
However the product like gasoline will not show decrease in demand in the short run due to price as it more of an essential good to daily life.
Thus, the correct option is A.
Answer:
d. segmentation
Explanation:
Segmentation is when a firm divides its customers or potential customers into groups based on certain traits.
Types of segmentation includes:
Demographic segmentation
Psychographic segmentation
Behavioral segmentation
Geographic segmentation
Answer and Explanation
Given:
Accounts receivable balance = $598,000
Percentage of receivables that are uncollectible = 5% or 0.05
Uncollectible receivables = 0.05 × 598,000 = $29,900
Adjusting journal entry to record bad debt expense is:
Particulars Debit Credit
Bad debts expense XXXXX
Allowance for doubtful debts XXXXX
(Being bad debts incurred)
Noe, Allowance for doubtful debts has a credit balance of $4,800.
Bad debt incurred = 29,900 - 4,800 = $25,100
So adjusting entry :
Particulars Debit Credit
Bad debts expense $25,100
Allowance for doubtful debts $25,100
(Being bad debts incurred)
Teresa currently earns a <u>real</u> wage of $12.00 per hour; in other words, the amount of her paycheck each week is $12.00 per hour times the number of hours she works. Suppose the price of apple juice is $2.40 per gallon; in this case, Teresa's<u> real</u> wage, in terms of the amount of apple juice per she can buy with her paycheck <u>4 </u> gallons of apple juice per hour.
When workers and firms negotiate compensation packages, they have expectations about the price level (and changes in the price level) and agree on a <u>nominal </u>wage with those expectations in mind. If the price level turns out to be higher than expected, a worker's wage is<u> lower </u>than both the worker and employer expected when they agreed to the wage.
Teresa and her employer both expected inflation to be 3% between 2012 and 2013, so they agreed, in a two-year contract, that she would earn $12.00 per hour in 2012 and $12.36 per hour in 2013. However, suppose inflation between 2012 and 2013 actually turned out to be 6%, not 3%. For example, suppose the price of apple juice rose from $2.40 per gallon to $2.54 per gallon. This means that between 2012 and 2013, Teresa's nominal wage <u>decreases</u> by<u> 3</u>% and her real wage <u>decreases</u> by approximately.
<u>Explanation:</u>
A nominal pay is the pace of pay workers are compensated. In case you're paid $15.00 every hour, your ostensible compensation is $15.00 every hour.
The most significant thing to think about an ostensible compensation is that it isn't balanced for swelling. Swelling is an expansion in the general value level in an economy.