Answer: $7,740
Explanation:
Given, At December 31, Accounts receivable = $238,000
Allowance for uncollectible accounts = 3% of (accounts receivable)
∴ Allowance for uncollectible accounts = 3% of ($238,000 )
=$(0.03 ×238,000) [3% = 0.03]
= $ (7140)
= $7,140
Allowance for uncollectible accounts (credit) before any adjustments= $600
The amount of the adjustment for uncollectible accounts = Allowance for uncollectible accounts + $600
= $7,140 + $600
= $7,740
Hence, The amount of the adjustment for uncollectible accounts would be: <u>$7,740.</u>
Be honest about your qualifications
It seems that you have missed the necessary options for us to answer this question, so I had to search for it. Anyway, here is the answer. The one that is not included in the balance sheet is the SALES. Sales is seen in the income statement. Hope this helps.
Explanation:
<u>5.1 Discuss the role of personal selling in promoting products. What advantages does personal selling offer over other forms of promotion?</u>
Personal selling is a traditional sales method that consists of a more personalized service and a more efficient product promotion compared to other forms of promotion. This is due to the fact that, in a personal sale, there is the direct influence of the seller to explain the functionalities and characteristics of a product, which is usually done using sales and negotiation techniques that directly influence the buyer to feel the need for the product that is being promoted. The advantages of personal selling as opposed to other types of promotion, is the possibility of reducing the time and effort of purchase, since in this type of sale, the seller goes to the customer to offer the product.
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<u>5.2 What are the major advantages of personal selling to the company selling a product? What are the advantages to the person or company buying the product?</u>
The biggest advantages of personal selling for the company that sells a product is the greater possibility of having a closed purchase, since the potential sales are made with your potential customers. There is also a decrease with other types of product promotion, which can be costly, such as advertising an advertisement on television, and which may not generate the expected goal of increasing product sales.
The advantages for the person or company that buys the product is the possibility of knowing and seeing the functionality of the product before purchasing and the possibility of negotiating and providing meaningful feedback, which can influence the seller to make the sales proposal more flexible by making it more attractive to the customer. Personal selling also creates value for the customer, as the service is personalized, based on their profile, characteristics, desires and needs.
Answer:
Bellisima's opportunity cost to produce 1 bushel of corn = 2 pairs of jeans
Explanation:
Bellisima uses 1 million hours of labor to produce corn and 3 million hours of labor to produce jeans. Produces 8 million bushels of corn and 48 million pairs of jeans.
- Production of corn per million hours of labor = 8 / 1 = 8 bushels of corn
- Production of jeans per million hours of labor = 48 / 3 = 16 pairs of jeans
Felicidad uses 3 million hours of labor to produce corn and 1 million hours of labor to produce jeans. Produces 15 million bushels of corn and 20 million pairs of jeans.
- Production of corn per million hours of labor = 15 / 3 = 5 bushels of corn
- Production of jeans per million hours of labor = 20 / 1 = 20 pairs of jeans
The opportunity cost refers to the extra costs or benefits lost form choosing one activity or investment over another alternative.
- Bellisima's opportunity cost to produce 1 bushel of corn = 16 pairs of jeans / 8 bushels of corn = 2 pairs of jean per bushel of corn.
- Bellisima's opportunity cost to produce 1 pair of jeans = 8 bushels of corn / 16 pairs of jeans = 0.5 bushels of corn per pair of jean.
- Felicidad's opportunity cost to produce 1 bushel of corn = 20 pairs of jeans / 5 bushels of corn = 4 pairs of jean per bushel of corn.
- Felicidad's opportunity cost to produce 1 pair of jeans = 5 bushels of corn / 20 pairs of jeans = 0.25 bushels of corn per pair of jean.
