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mojhsa [17]
2 years ago
9

Morrow Inc. uses the percentage of credit sales method of estimating doubtful accounts. The Allowance for Doubtful Accounts has

an unadjusted credit balance of $3,700 and the company had $190,000 of net credit sales during the period. Morrow has experienced bad debt losses of 3% of credit sales in prior periods. After making the adjusting entry for estimated bad debts, what is the ending balance in the Allowance for Doubtful Accounts account
Business
1 answer:
Black_prince [1.1K]2 years ago
7 0

Answer:

$9,400

Explanation:

The computation of ending balance in the Allowance for Doubtful Accounts account is shown below:-

The ending balance in the Allowance for Doubtful Accounts account = Net credit sales × Bad debt losses + Unadjusted credit balance

= $190,000 × 3% + $3,700

= $5,700 +$3,700

= $9,400

Therefore for computing the ending balance in the Allowance for Doubtful Accounts account we simply applied the above formula.

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Purchasing a diamond represents ________ because consumeres buy diamonds infrequently and have no estabilished criteria for eval
Vesnalui [34]

Answer: Purchasing a diamond represents <u>Extensive problem solving </u>because consumeres buy diamonds infrequently and have no estabilished criteria for evaluating them

Explanation:

<u>Extensive problem solving is </u>the process of a customer trying to get all the information they need in order to be able to buy a product . This is likely to occur when the customer is purchasing a product that they have not bought before.

7 0
3 years ago
Indicate all items in the following list that are not consumption goods and services and explain why.Item a​: A chocolate barIte
natima [27]

Answer: Option B, D , E

Explanation: In simple words, goods which are not used in the production of other goods rather consumed by the individual to satisfy current wants is called consumer goods.

So, form the above explanation we can conclude that a chocolate bar and a golf ball are consumer goods among all options.

.

B. A ski lift will be used continuously by the owner for its business operation. Hence, not a consumer good.

D. A shopping mall cannot be considered a good. It is a fixed asset to the entity owning it. Hence, not a consumer good.

E. A train will continuously used by the organisation owning it for its business purpose. Hence , not a consumer good.

8 0
3 years ago
Nalpas Inc., an apparel company, manufactures clothes for men, women, and children. It further divides its core customers accord
cricket20 [7]

<u>Full question:</u>

Nalpas Inc., an apparel company, manufactures clothes for men, women, and children. It further divides its core customers on the basis of demographic variables such as income, ethnic background, and family life cycle. In this context, these demographic variables are examples of _____.

a. positioning bases

b. segmentation bases

c. product classes

d. market positions

<u>Answer:</u>

In this context, these demographic variables are examples of segmentation bases

<u>Explanation:</u>

Segmentation bases are the dimensions that can be applied to fragment a market. A segmentation basis is described as an assortment of variables or features used to select dormant customers to analogous groups. Demographic segmentation is one of the usual recommended and commonly used varieties of market segmentation.

Segmenting based on identifiable group attributes, such as age, profession, matrimonial status and so on. Because demographic information is analytical and accurate, it is normally almost easy to reveal using various sites for market research.

5 0
3 years ago
Mary's 25th birthday is today, and she hopes to retire on her 65th birthday. She has determined that she will need to have $4,00
inessss [21]

Answer:

Annuity will be $33112.644  

Explanation:

We have given future value ( FV ) = $4000000

Rate of interest r = 5% = 0.05

Number of periods n = 40

We know that future value is given by Futurte\ value(FV)=\frac{A}{r}[(1+r)^n-1]

Here A is annuity

So 4000000=\frac{A}{0.05}[(1+0.05)^{40}-1]

200000=A[(1+0.05)^{40}-1]

200000=A\times 6.0399

A=$33112.644

So annuity will be $33112.644

4 0
2 years ago
Why do many people avoid the topics of taxes more than other areas of personal financial planning?
Maksim231197 [3]
Good point things don’t make sense like this but I’m answering my first question
7 0
2 years ago
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