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wel
3 years ago
15

For 2021, Rahal's Auto Parts estimates bad debt expense at 1% of credit sales. The company reported accounts receivable and an a

llowance for uncollectible accounts of $86,500 and $2,100, respectively, at December 31, 2020. During 2021, Rahal's credit sales and collections were $404,000 and $408,000, respectively, and $2,340 in accounts receivable were written off. Rahal's final balance in its allowance for uncollectible accounts at December 31, 2021, is:_________
Business
1 answer:
Naddik [55]3 years ago
3 0

Answer:

$80,160.

Explanation:

An account receivable is lawfully enforceable cases for installment, held by a business for the products provided and benefits that clients/customers have requested yet not paid for.

According to Rahal's autos noncollectable accounts and the amount they received in the following year. Rahal's collectible accounts on December 31, 2021, is

86,500 + 404,000 - 408,000 - 2,340

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The future value and present value equations also help in finding the interest rate and the number of years that correspond to p
Vilka [71]

Answer:

4%

Explanation:

Solution:

Calculation for the the implied interest rate the investor will earn on the security

Using this formula

Future value = Present Value (1+r)^t

Where,

Future value =$7,300

present value = $6,000

t= period = 5 years

r= interest implied = ??

Let plug in the formula

Future value = Present Value (1+r)^t

$7,300 = $6,000 (1+ r)^5

1+ r = ($7,300/$6,000 )^(1/5)

1+ r = 1.216666666^(1/5)

1+ r = 1.04

r= 1.04-1

r= 0.04*100

r= 4%

Therefore the implied interest rate the investor will earn on the security will be 4%

4 0
3 years ago
Assume that in a monopolistically competitive industry, firms are earning economic profit. This situation will:
forsale [732]

Answer:

attract other firms to enter the industry, causing the existing firms' profits to shrink.

Explanation:

Monopolistic competition can be defined as an imperfect competition where many producers or organizations sell differentiated products that are not perfect substitutes. Examples of firms or organizations engaging in a monopolistic competition are restaurants, shoes, clothing lines etc.

Generally, a monopolistic competitive market is characterized by the presence of large numbers of firm (producers) and a very low entry barrier.

Hence, in a monopolistic competition, firms have a degree of control over price, make independent decisions and can freely enter or exit the market in the long-run. Therefore, these firms combine elements of both monopoly and competition.

When a monopolistically competitive firm is in long-run equilibrium marginal revenue is equal to marginal cost (MR = MC) . This ultimately implies that in the long-run, firms engaging in monopolistic competitive market are often going to manufacture the quantity of goods where the marginal cost (MC) curve intersect with the marginal revenue (MR). Also, the price set would be greater than the minimum average total cost (ATC).

Hence, assuming that in a monopolistically competitive industry, firms are earning economic profit. This situation will attract other firms to enter the industry, causing the existing firms' profits to shrink.

6 0
2 years ago
Gulph Company reported the following results from the sale of 5,000 hammers in May: sales $200,000, variable costs $120,000, fix
Nezavi [6.7K]

Answer:

Number of units= 4,000 units

Explanation:

Giving the following information:

Sales $200,000

variable costs $120,000

fixed costs $60,000

net income $20,000.

We have to maintain a net income of $20,000.

First, we will calculate the selling price per unit and the unitary variable cost:

Selling price= 200,000/5,000= $40 per unit

Variable cost per unit= 120,000/5,000= $24 per unit

New selling price:

Selling price= $44

Contribution margin per unit= 44 - 24= $20

Now, we have to find the total contribution margin required:

Contribution margin required= net operating income + fixed costs

Contribution margin required= 20,000 + 60,000= 80,000

Number of units= total contribution margin/ unitary contribution margin

Number of units= 80,000/20= 4,000 units

4 0
3 years ago
After Juan wrote down the week's tasks, schoolwork, and after-school activities in his assignment notebook, he highlighted all t
Nimfa-mama [501]

Answer:

Its B

Explanation:

5 0
2 years ago
Read 2 more answers
Suppose that an economy produces 2,400 units of output, employing 60 units of input, and the price of the input is $30 per unit.
Vinil7 [7]

an economy produces 2,400 units of output, employing 60 units of input, and the price of the input is $30 per unit. the level of productivity in this economy is 40

<h3>What is productivity?</h3>
  • It is possible to study patterns in salary growth, wage levels, and technical advancement by further segmenting labor productivity.
  • Productivity increase is directly related to corporate earnings and shareholder returns.
  • Productivity is a measure of a company's production process efficiency at the corporate level.
  • It is calculated by comparing the number of units produced to employee labor hours or by comparing the company's net sales to employee labor hours.
  • Productivity is calculated as a company's output divided by the units utilized to produce that output.
  • In the workplace, productivity simply refers to how much "work" is completed in a given amount of time.

To learn more about productivity with the given link

brainly.com/question/23987161

#SPJ4

8 0
1 year ago
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