Why does excessive fishing occur?

Bramble Company uses the percentage of receivables method for recording bad debt expense. The accounts receivable balance is $59

shusha [124]

Answer and Explanation

Given:

Accounts receivable balance = $598,000

Percentage of receivables that are uncollectible = 5% or 0.05

Uncollectible receivables = 0.05 × 598,000 = $29,900

Adjusting journal entry to record bad debt expense is:

Particulars Debit Credit

Bad debts expense XXXXX

Allowance for doubtful debts XXXXX

(Being bad debts incurred)

Noe, Allowance for doubtful debts has a credit balance of $4,800.

Bad debt incurred = 29,900 - 4,800 = $25,100

So adjusting entry :

Particulars Debit Credit

Bad debts expense $25,100

Allowance for doubtful debts $25,100

(Being bad debts incurred)

7 0

4 years ago

When monopolistically competitive firms advertise, in the long run they will still earn zero economic profit. they can earn posi

Daniel [21]

Answer:

When monopolistically competitive firms advertise, in the long run they will still earn zero economic profit.

Explanation:

Monopolistic competition happens when many producers sell products that are differentiated from one another and hence are not perfect substitutes

Based on this, the demand curve of a firm in a monopolistic competitive market will shift so that it is tangent to the firm's average total cost curve and this will make it impossible for the firm to make economic profit. The best that can be expected is to be able to break even

This means in the long run, a monopolistically competitive firm will make zero economic profit.

A good example is Hotel which can only raise its prices without losing all of its customers based on brand loyalty and distinct quality differentiation.

8 0

4 years ago

Read 2 more answers

By offering more generous unemployment insurance programs, European countries can expect Group of answer choices longer periods

natulia [17]

Answer:

Longer periods of unemployment for their workers.

Explanation:

Unemployment is when people who are willing and able work do not have jobs

Types of unemployment

structural unemployment is an unemployment that occurs as a result of changes in the economy. These changes can be as a result of changes in technology, polices or competition. Structural unemployment tends to be permanent.

Frictional unemployment: the period of time a person is unemployed from the period he leaves his current job and the time he gets another job. Eg. when a real estate agent who leaves a job in Texas and searches for a similar, higher-paying job in California.

Voluntary unemployment: e.g. worker at a fast-food restaurant who quits work and attends college.

Cyclical unemployment: it occurs as a result of fluctuations in the economy. Unemployment would be high in a downturn and low in a boom

If a government gives generous unemployment insurance programs, there would be less incentive to find jobs because one of the main reasons why people would want to work is to have money. If the government provides generous pay to the unemployed, there would be less motivation to work and unemployment increases

6 0

3 years ago

Today’s job seekers will need to have not only the skills a company is seeking to fill a position, but also______

melamori03 [73]

Responsibility?
i’m not sure tho

6 0

4 years ago

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Does this big data approach work for all three Gap Inc.'s primary brands: Old Navy, Gap, and Banana Republic? Why or why not? Wh

Greeley [361]

Answer:

We feel that the big data approach is applicable for all three of Gap Inc.’s brands, although the biggest insights from the information collected will come from the brand that has the greatest product diversity. Banana Republic is Gap’s most targeted brand with its expensive price points, so designers already have a relatively good idea of what their customers are looking for. The target customer is upscale, predominantly female, and interested in a classic look. The variability in design for the brand is least among Gap’s, but still significant so the ability to assess the success

of product offerings in real time is extremely valuable. Similar to the model used by Netflix, withonline shopping Gap does not have to rely on feedback from just the very few customers that choose to comment on and rate products that they purchase.With the introduction of “Product 3.0”, the trends seen at Banana Republic and the Gap were able to cascade down into the less expensive, family brand of Old Navy. This allowed for consumers of all income brackets to be touched. All brands had a clear vision with common ground, being more predictive and demand driven based on data analytics. This sharing of information benefits all of the brands by better streamlining products towards market trends. Since Old Navy and Gap have a greater number of SKU’s, they will have an even greater benefit from big data. But managing, purchasing and inventories for these companies is even more challenging, and having to deeply discount unsuccessful SKU’s can be unavoidable. But minimizing these unsuccessful products can be achieved through big data by analyzing how well a product performs before waiting to receive customer feedback. Gap can emulate fast fashion companies like Zara who keep production runs short, even shorter for unsuccessful runs, and create a sense of urgency from the customer without complicating the customer’s decision process with an inevitable sale

Explanation:

8 0

3 years ago