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andrey2020 [161]
3 years ago
13

During its first year of operations, Mack's Plumbing Supply Co. had sales of $580,000, wrote off $9,300 of accounts as uncollect

ible using the direct write-off method, and reported net income of $63,800. Determine what the net income would have been if the allowance method had been used, and the company estimated that 2.5% of sales would be uncollectible. $ fill in the blank 1
Business
1 answer:
mart [117]3 years ago
5 0

Answer: $58600

Explanation:

The net income that would have been if the allowance method had been used, and the company estimated that 2.5% of sales would be uncollectible will be calculated thus:

= Reported net income + Uncollectible - (Sales × % Uncollectible)

= $63800 + $9300 - ($580000 × 2.5%)

= $63800 + $9300 - $14500

= $58600

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XYZ Company produces a significant daily amount of electronic waste. The company disposes the waste into the ocean despite stric
natima [27]

Answer:

Legal responsibility

Explanation:

Since there have been regulations put in place by the government, it is thereforre a legally binding agreement between XYZ company and any other companies that does same as XYZ company.

The failure of XYZ company to honour the set regulations is a breach in its legal responsibilty alongside its corporate social responsibilty as well and it can be taken up by the government by either charging the XYZ company to court or revoking their operating license.

Cheers.

6 0
3 years ago
The length of time that elapses between the day a firm purchases an inventory item and the day that item sells is called the ___
Lana71 [14]

Answer:

inventory period

Explanation:

According to my research on different financial terminology, I can say that based on the information provided within the question this time lapse is called the inventory period. Like mentioned in the question this is the number of days inventory is held, calculated by subtracting the sale date from the day of purchase.

I hope this answered your question. If you have any more questions feel free to ask away at Brainly.

4 0
3 years ago
Why was money scarce when crops produced a good profit? savestylesformat instructions?
Zolol [24]
<span>Although a profitable surplus of products was maintained, money was as scarce in the colonies as it was in England. Whenever gold or silver was earned from exported products, it had to be sent to England to pay debts or to import needed goods. This produced an environment where money was scarce even despite the decent profit earned from crops.</span>
5 0
3 years ago
Using the liquidity-preference model, the Federal Reserve can react to the threat of exceedingly high inflation via monetary pol
stich3 [128]

Answer:

left as well as the contractionary monetary policy, then bring about the

increase of interest rate as well as reducing equilibrium quantity of money.

Explanation:

Liquidity Preference model can be regarded as a model gives suggestions about investor and interest rate, the model entails that high interest rate as well as premium on securities associated with long-term maturities with higher risk should be demanded by investors, reason behind this suggestions is that most investors will always go for cash as well as available highly liquid holdings, all things been equal. It should be noted that Using the liquidity-preference model, the Federal Reserve can react to the threat of exceedingly high inflation via monetary policy by shifting the supply of money to the left as well as the contractionary monetary policy, then bring about the increase of interest rate as well as reducing equilibrium quantity of money.

3 0
2 years ago
A bakery invest a portion of profits into sending its employees to a training on how to use more energy-efficient ovens that als
Karo-lina-s [1.5K]
A bakery invests a portion of profits into sending its employees to a training on how to use more energy-efficient ovens that also can hold more baked goods. Hoping to achieve by investing in the training, the goal of the bakery is increase productivity. The new learning to employees will help them how to use more of the energy-efficient ovens and probably find a way that they won't have to waste more electricity and produce more baked goods.

The answer would be letter A.
6 0
3 years ago
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