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spin [16.1K]
2 years ago
11

In 2022 the Splish Brothers Inc. had net credit sales of $1020000. On January 1, 2022, the Allowance for Doubtful Accounts had a

credit balance of $23100. During 2022, $34200 of uncollectible accounts receivable were written off. Past experience indicates that the allowance should be 10% of the balance in receivables (percentage-of-receivables basis). If the accounts receivable balance at December 31 was $242000, what is the required adjustment to the Allowance for Doubtful Accounts at December 31, 2022
Business
1 answer:
zaharov [31]2 years ago
5 0

Answer:

$35,300 (Credit)

Explanation:

Given that;

Allowance = 10% × $242,000 = $24,200

Amount written off of $34,200 would have made the balance in the allowance for doubtful debts

= $34,200 - $23,100

= $11,100 (Debit)

However, the balance in the account at the end of the year should amount to $24,200 hence the adjustment required

= $24,200 + $11,100

=$35,300 (Credit)

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3. Working with Numbers and Graphs Q3 Suppose that a small business sells 975 units of goods per month at $30 per unit. The unit
Salsk061 [2.6K]

Answer:

economic profit  = $11225

Explanation:

given data

sells = 975 units

cost = $30 per unit

cost of producing goods = $15

implicit costs = $3,400

solution

total revenue = 975 × 30 = $29250

and total cost = 975 × 15  = $14625

so here Total profit will be as

Total profit = $29250 - $14625  = $14625

so here economic profit will be

economic profit  = Total profit  - implicit costs

economic profit  = $14625 -  $3,400

economic profit  = $11225

6 0
3 years ago
A person in the organization has the ability to given bonuses to employees as part of a corporate compensation program. This is
skad [1K]

A person in the organization has the ability to given bonuses to employees as part of a corporate compensation program. This is an example of reward power.

<h3>What is reward power?</h3>

This is a term that is used formally in the workplace to refer to  a power that has been given by people to give out rewards to other workers in the workplace.

A supervisor who gives incentives to workers is an example of a person that holds such a power.

Raed more on reward power here:

brainly.com/question/4068765

#SPJ1

7 0
2 years ago
Toothpaste manufacturers understand that consumers have different needs when it comes to toothpaste (i.e., teeth whitening, sens
Nataly [62]

Answer:

market segmentation

Explanation:

Market segmentation -

It is the marketing strategy , where the market is bifurcated into different segments , according to the needs of the consumers , is referred to as market segmentation .

The needs and taste of the consumers are considered , for a particular segment , and is incorporated into the goods and services .

Hence , from the given scenario of the question ,

The correct term is market segmentation .

3 0
3 years ago
Problem 14-04 Stock Repurchase A firm has 5 million shares outstanding with a market price of $15 per share. The firm has $15 mi
Charra [1.4K]

Answer:

$60 million

Explanation:

The computation of the value of operations after the repurchase is shown below:-

Total corporate value = Value of operation + marketable securities

(5 × $15 million) = Value of operation + $15  million

$75 million = Value of operation + $15  million

Value of operation = $75 million - $15  million

= $60 million

We simply applied the above formula so that the firm's value of operations after the repurchase could come

5 0
2 years ago
If Shawn can produce donuts at a lower opportunity cost than Sue, then ____
Archy [21]

Answer:

(A) Shawn has a comparative advantage in the production of donuts.

Explanation:

Shawn renounce to less goods than Sue when producing donuts.

This meas, Shawn has a comparative advantage in the production of donuts as their cost from the economic point of view are lower.

This do not imply that Sue cannot outproduce Shawn, it means it cost her more than Shawn

For example, if Sue produce 10 Donuts, but to produce donuts resing to produce 20 of other goods, each donut has an opportunity cost of 2

While Shawn can produce 8 donuts and resing to produce 8 of other goods:

each donut has an opportunity cost of 1

Therefore, is better for the overall economy to Shawn produce donuts and trade with Sue for the other good.

4 0
3 years ago
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