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galben [10]
3 years ago
13

An aging of a company's accounts receivable indicates that $4,000 are estimated to be uncollectible. If Allowance for Doubtful A

ccounts has a $1,200 credit balance, the adjustment to record bad debts for the period will require a
Business
1 answer:
german3 years ago
8 0

Answer:the adjustment to record bad debts for the period will require a debit of $3,800 on  Bad Debts Expense account and  a credit of $3,800  on Accounts Receivable account.

Explanation:

Account receivables = $4,000 uncollectible

Allowance for Doubtful Accounts =$1,200 credit balance

Adjustment to record bad debts =Account receivables-$1,200 credit balance

= $4,000 - $1,200

=$3,800

The  adjustment journal entry to record the bad debts for the period will require

Accounts                               Debit                 Credit

Bad debt expense              $3,800

Accounts receivables                                       $3,800  

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Sports​ Medicine, Inc., offers two types of physical exams for​ students: the basic physical and the extended physical. The char
kramer

<em>Explanation</em>:

Second Quarter Sales budget

<u>Forecasted Physical Exam. (Basic at $95 per exam and Extended at $150)</u>

July

Basic > 240 =95*240=23,040

Extended > 165 = 150*165=25,200

August  

Forecasted Physical Exam.

Basic > 250 = 95*250=23,750

Extended > 215 =150*215=32,250

September

Forecasted Physical Exam.

Basic > 80  =90*80 =7,200

Extended > 90 =150*90 =13500

Total Gross Sales

Basic=$53,990

Extended=$70,950

3 0
3 years ago
Sales price $6.74 per unit
stiks02 [169]

Answer:

Margin of safety = 3190.922902 units rounded off to 3191 units

Explanation:

Margin of safety is the cushion or extra number of units that the business sells over the break even point in units. The break even point is the point where total revenue equals total cost and the business earns no profit or no loss. To calculate the margin of safety in units, we deduct the break even number of units from the budgeted number of units or sales.

Margin of safety = Budgeted units  -  Break even number of units

First we need to calculate the break even in units. The formula for break even in units is,

Break even in units = Fixed cost / (Selling price per unit - Variable cost per unit)

Break even in units = 9376 / (6.74 - 2.33)

Break even in units = 2126.077098 rounded off to 2126 units

Margin of safety = 5317  -  2126.077098

Margin of safety = 3190.922902 units rounded off to 3191 units

7 0
3 years ago
How can creating a customer profile help entrepreneurs identify their target market
Nimfa-mama [501]

Creating a customer profile helps identify markets because the information on it is too persuade the buyer, customer or Purchaser. I'm in 6th grade don't judge x

3 0
2 years ago
Fully explain the differences between the following, using examples: a. Trade-offs and Opportunity Cost b. Normative and Positiv
Natali [406]

Answer: See explanation

Explanation:

a. . Trade-offs and Opportunity Cost.

A trade-off occurs when an increase in a particular thing brings about a reduction in another thing. It involves reducing a particular resource in order to increase another resource.

Opportunity cost is the loss on a potential gain when one chooses something else.

b. Normative and Positive Economics

Normative economics is when the focus of a particular economy is about fairness and what should be right. It is based on the judgement of individuals or their opinions.

Positive statement is a statement that's backed by facts. It is a statement that's said to be true.

c. Consumer Goods and Capital Goods

Consumer goods are the goods that are consumed by individuals in order to satisfy their current wants.

Capital goods are the goods that are used to produce other goods. They are not wanted for immediate consumption but rather used for production process.

d. Resource Markets and Product Markets

A resource market is referred to as a market where a particular business can buy the resources that it need for its production process.

A product market is the market where goods are traded. In such market, one can buy goods like cars, fans, etc

e. Free Market, Mixed and Centrally-Planned

Free market is a market whereby the individuals and the firms are the one controlling the resources in such market. Prices are determined in such market based on the interaction that occurs between the demand and supply. There's minimal intervention from the government in such market.

Command economy can also be called a planned economy and it is the economy whereby the allocation off goods and the services for that economy is down by the government.

Mixed economy is an economy whereby all the economic agents like the individual, the firms and government all play a role in the production and also the distribution of goods and services.

8 0
2 years ago
7) Which of the following is the best statement of performance feedback?
Gelneren [198K]

Answer:

"Your last report contained seven errors which I think you could improve."

Explanation:

Performance feedback is used to give an employee a specific feedback about his work. The statement is specific to the performance metric and provides quantitative information about work performed.

In this scenario the statement "Your last report contained seven errors which I think you could improve." Has a feedback about the employee report, the quantitative aspect states that there were 7 errors in the work.

3 0
3 years ago
Read 2 more answers
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