Loans requiring periodic payments of interest and principle are referred to as

National Art is a new business. During its first year of operations, credit sales were $40,000 and collections were credit sales

zmey [24]

Answer:

The ending balance of Allowance for Bad Debts account is $800

Explanation:

The computation of the ending balance of allowance for bad debt is shown below:

= Credit sales × uncollectible rate

= $40,000 × 2%

= $800

The estimated amount would be considered as an allowance for bad debts i.e $800, So no other amount would be come while computing the ending balance of Allowance for Bad Debts account.

However, the other information which is given in the question is not relevant. Hence, ignored it

6 0

3 years ago

At the end of the month, the department had 12,000 units in inventory, 85% complete as to materials and 60% complete as to conve

larisa [96]

Answer:

Units started and completed = 56,000 units.

Explanation:

The complete question is as follows:

At the beginning of the month, the Forming Department of Martin Manufacturing had 14,000 units in inventory, 40% complete as to materials, and 20% complete as to conversion. During the month the department started 68,000 units and transferred 70,000 units to the next manufacturing department. At the end of the month, the department had 12,000 units in inventory, 85% complete as to materials and 60% complete as to conversion. How many units did the Forming Department start and complete in the current month?

Working 1: Reconciliation of units:

Beginning work in progress = 14,000 units (A)

Introduced = 68,000 units (B)

Total (A+B) = 14,000 units + 68,000 units

Total (A+B) = 82,000 units

Transferred out (D) = 70,000 units

Ending work in progress (A+B) - (D) = 82,000 units - 70,000 units

Ending work in progress = 12,000 units

Units transferred from work in progress = 14,000 units

Total units = 70,000 units

From units started/introduced = 70,000 units - 14,000 units

From units started/introduced = 56,000 units (answer)

6 0

3 years ago

Acme corporation currently has a 20% market share in a $15 billion industry (measured by sales revenue). emca corporation curren

denpristay [2]

Industry sales = $15 billions
Acme market share = 20%
Emca market share = 17%

Acme market share in form of sales:
Acme marker share = 20% of $20 billion = (20/100)*20 = $3.00 billions

Emca market share in form of sales:
Emca market share = 17% of $20 billions = (17/100)*20 = $2.55 billions

Difference between the market shares for two companies as a percentage:
Difference = |20%-17%| = 3% of $20 billion

3 1

4 years ago

Objectives of AllocationSamantha and Rashida are planning a trip to Padre Island, Texas, during spring break. Members of the var

enot [183]

Answer:

Increase in Motel cost = $10 per night for additional bed * 4 day = $10 * 4 = $40

Additional food cost = $150

Therefore, total cost of including Kallie for the trip is $40 + $150 = $190

1. Incremental Analysis

Without K With K Incremental cost

Motel cost $580 $620 $40

Food $300 $450 $150

Gas in total $120 $120 -

Total Incremental cost $1,000 $1,190 $190

It would cost $190 for Kallie to accompany along

2. Cost to Kallie using benefits received method

Particulars Amount

Motel ($580 + 40)/3 $206.67

Food $150

Gas ($120/3) $40

Total $396.67

Thus, cost to Kallie using benefits received method would be $396.67.

3 0

3 years ago

Assume the following: The real risk-free rate, r*, is expected to remain constant at 3%. Inflation is expected to be 3% next yea

DaniilM [7]

Answer:

This problem assumed a zero maturity risk premium, but that is probably not valid in the real world.

Explanation:

Consider the following definition

Maturity risk premium determines a bond’s price. Other risks include the chance that the bond issuer will fail to make its payments and the risk that you won’t be able to quickly find a buyer for the bond when you want to sell it, forcing you to lower your asking price.

7 0

3 years ago