Gomez Corp. Uses The Allowance Method To Account For Uncollectibles. On January 31, It Wrote Off An $2,100 (2024)

Business High School

Answers

Answer 1

Answer: Please see answer in explanation column

Explanation:

a) Journal entry to write off an uncollectible amount.

Date Account Debit Credit

Jan 31st Allowance for doubtful accounts $2,100

Accounts receivable—C. Green $2,100

b) Journal to record recovery of the bad debt.

Date Account Debit Credit

Mar 9 Accounts receivable—C. Green $1,600

Allowance for doubtful accounts $1,600

c) Journal to record payment on account.

Date Account Debit Credit

Mar 9 Cash $1,600

Accounts receivable—C. Green $1,600

Related Questions

"Tina withdraws $20,000 from her money market account to start up her own house cleaning business. Over that time, the account would have earned 3 percent interest. In order to properly account for all costs of her business, Tina must not forget:"

Answers

Answer: the opportunity cost of $600

Explanation:

From the question, we are informed that Tina withdraws $20,000 from her money market account to start up her own house cleaning business and that over that time, the account would have earned 3 percent interest.

In order to properly account for all costs of her business, Tina must not forget the opportunity cost of $600. This is calculated as 3% of $20,000.

The opportunity cost is what Time had to forgoes in order to start her business.

Consider the following payoff matrix facing two criminals. A: Confess A: Not Confess B: Confess A: 20yrs, B: 20yrs A: 50yrs, B: 2yrs B: Not Confess A: 2yrs, B: 50yrs A: 10yrs, B: 10yrs Their options are to confess or not to confess. Given this information:

Answers

Answer:

Both A and B have dominant strategies

Explanation:

Consider 2 players "A" and "B" in the specified game. Here, row player is "B" and column player is "A." If "B" chooses "Confess" then "Not Confess" is the optimal choice for "A," because 50 > 20, likewise if "B" chooses "Not Confess," then "Not Confess" is the optimal choice for "A," as 10 > 2. Therefore, we can see that the "Not Confess" is the dominant "A" strategy Similarly we can prove that the prevailing technique for "B" is "Not Confess" too.

Hence, we can see that both player 's approach is successful and from the above explanation, the 2nd option is correct.

Lawrence recently bought a brand new Bentley Mulsanne, a very expensive car, but he is suffering from buyer's remorse. He wishes he would have bought something that made a bigger impression on the ladies at the Taco Bell drive­through. Howard, however, recently purchased a pre­owned '86 Camaro with a flame job on the hood from a car dealer, and when he rolls through Taco Bell with the T-tops off, the drive-through ladies are always staring at his car and his mullet hairdo. Howard is far more satisfied with his car than Lawrence. From a marketing point of view, which of the following concepts has contributed to Howard feeling satisfied with this purchase?
a. CRM implementation
b. Howard's full partnership with his '86 Camaro
c. Perceived value of the car
d. Customer loyalty

Answers

Answer:

The marketing concept that contributed to Howard feeling satisfied with his purchase of "a preowned '86 Camaro with a flame job on the hood" is

c. Perceived value of the car

Explanation:

Howard evaluates the merits of this preowned '86 Camaro as it has the ability to satisfy his needs for winning the attention of the drive-through ladies at Taco Bell. When he "rolls through the Taco Bell with the T-tops off the ladies keep staring at his car." It is this attention that he needs. And the car investment ensures that he achieves this attention from the ladies. Howard's feeling of satisfaction is accentuated the more when compared with the less-than-impressive attention that Lawrence pools with the girls, while driving his expensive Bentley Mulsanne through the same Taco Bell.

Coastharp, a furniture e-commerce website, allows its customers to book one-hour slots during which they wish to get their furniture delivered. They can also book another one-hour slot to get the delivered furniture assembled at their convenience. The company holds back orders and delays deliveries when customers are not available to receive them. In the context of marketing, which of the following utilities does Coastharp most likely provide through its service?
A. Form utility
B. Time utility
C. Possession utility
D. Ownership utility

Answers

Answer:

b

Explanation:

Form utility is a type of nullity that occurs as a result of the design of the product or service itself.

Time utility exists when a company makes a good or service available to consumers at the time that is most desirable or convenient for them.

Possession utility is utility derived from owning a product

S&P Enterprises has scheduled direct material purchases of $120,000 in April, $140,000 in May and $160,000 in June. The company pays for 75% of its purchases in the month of purchase and 25% the month after the purchase. Calculate the expected cash disbursem*nts for t

Answers

Answer:

Results are below.

Explanation:

Giving the following information:

Purchases:

April= $120,000

May= $140,000

June= $160,000

The company pays for 75% of its purchases in the month of purchase and 25% the month after the purchase.

We can calculate the cash disbursem*nt for each month:

April:

Purchase from April= 120,000*0.75= 90,000

May:

Purchase from May= 140,000*0.75= 105,000

Purchase from April= 120,000*0.25= 30,000

Total= 135,000

June:

Purchase from May= 140,000*0.25= 35,000

Purchase from June= 160,000*0.75= 120,000

Total= 155,000

Sonia, a manager at an advertising agency, prepares a report to record the work completed so far and the work remaining on her new project. Her report further analyzes the quality of the work and recommends specific restructuring to the project. Sonia has prepared a(n) _____.

Answers

Answer:

Interim Report

Explanation:

In the scenario being described, it can be said that Sonia has prepared an Interim Report. This is a financial statement that is reported by a firm for a specific period, usually in a semiannually, quarterly or even monthly basis, which is then reviewed by the company's internal auditors, in order to analyze and determine if changes need to be made to the project/firm in order to make everything more efficient and more profitable.

. Why does Starbucks Coffee consider internal leadership such an important part of its core business process?

Answers

Answer:

Starbucks Coffee consider internal leadership an important aspect of its core business because it understands and appreciates the idea of planning for one's own succession.

Explanation:

Internal Leadership can be defined as an ability to oneself. Many times it is a neglected aspect of leadership, but a leader who knows how to lead himself have thriving possibility to lead others as well.

Starbucks Coffee is considered one of the companies in which people like to work. It is because Starbucks Coffee has given much importance to the aspect of internal leadership development. This aspect is usually overlooked in many companies but is accepted and adopted by Starbucks Coffee. The company understands that everyone has right to plan for one's own succession and thus keeps itself prepare for top-level-successors. The company provides an environment growth and becoming a successful leader to the educated employees that come for work in the company.

Kim Nagele,senior sourcing manager at JCPenney,purchases tons of publication paper annually at a cost of hundreds of millions of dollars.As described and inferred in the text,Mr.Nagele performs all of the following roles in the JCPenney buying center except which?
A) user
B) gatekeeper
C) influencer
D) buyer
E) decider

Answers

Answer: user

Explanation:

From the question, we are informed that Kim Nagele, senior sourcing manager at JCPenney buys tons of publication paper annually at a cost of hundreds of millions of dollars.

Based on the above scenario, we can day that Kim Nagele performs the told of an influencer, gatekeeper, buyer anr the decider. He is not a user as he is not the one using the publication paper.

A seller entered into a written contract to sell a tract of land to a buyer. The buyer was to pay $1,500 per month for five years, at which time the seller would deliver a warranty deed. The contract was silent as to the quality of title to be conveyed. After making 12 payments, the buyer discovered that a neighbor had an easem*nt of way over the land, which was not discussed at the time the seller and buyer entered into the contract. The neighbor had not used the easem*nt over the previous year because she had been out of the country. On the basis of the easem*nt, the buyer wishes to cancel the contract. Which party is more likely to prevail?

Answers

Answer:

Option B

The party which is more likely to prevail is the seller, because the buyer has no basis on which to rescind the contract.

Explanation:

A contract is a lawful agreement in which there is two person which is enforceable by law. In this contract there is agreement, consent, lawful consideration, rules and regulations have existed

Now according to the real estate contract there is a contract of

a. Money from the client

b. Title for real estate

So as per the situation give, the option is correct as the buyer has no reason for cancel the contract

Employers generally restrict or monitor the Internet activity of their employees because the increased use raises the company's ISP rates significantly. True False 4 Although unethical, there are currently no laws in the U.S. for actions such as hacking and sharing copyrighted material. True False 5 Employees who engage in telecommuting may find themselves working more hours, especially if their supervisor feels as if they are always "on the clock." True False 6 Most experts recommend that companies monitor their employees secretly in order to prevent workers from circumventing the technologies used to track them. True False 7 Copyright protection lasts 20 years after the date of publication or release. True False 8 A web developer creates and maintains websites for organizations. True False 9 A _________ excels when it comes to installing, configuring, and supporting computer systems. network administrator software engineer database administrator computer support specialist 10 Creative works such as books, songs, and photographs are protected by copyright law. True False

Answers

Answer:

1. False.

2. False.

3. True.

4. False.

5. False.

6. True.

7. Computer support specialist.

8. True.

Explanation:

1. Employers generally restrict or monitor the Internet activity of their employees because the increased use raises the company's ISP rates significantly: False because it is considered unethical under certain employee rights.

2. Although unethical, there are currently no laws in the U.S. for actions such as hacking and sharing copyrighted material: False because there is a computer fraud and abuse act in existence.

3. Employees who engage in telecommuting may find themselves working more hours, especially if their supervisor feels as if they are always "on the clock.": True

4. Most experts recommend that companies monitor their employees secretly in order to prevent workers from circumventing the technologies used to track them: False because it is not ethical and violates the fundamental rights of the employees.

5. Copyright protection lasts 20 years after the date of publication or release: False because a copyright protection is 95 years from date of publication or release and 120 years from creation.

6. A web developer creates and maintains websites for organizations: True

7. A computer support specialist excels when it comes to installing, configuring, and supporting computer systems.

8. Creative works such as books, songs, and photographs are protected by copyright law: True

An investor purchases a stock for $52 and a put for $0.60 with a strike price of $50. The investor sells a call for $0.60 with a strike price of $58. What is the maximum profit and loss for this position

Answers

Answer:

Maximum profit = $6

Maximum loss = -$2

Explanation:

The computation of maximum profit and loss for this position is shown below:-

Maximum profit = Strike price - Purchase of stock

= $58 - $52

= $6

Maximum loss = Strike price - Purchase of stock

= $50 - $52

= - $2

Therefore for determining the maximum profit and loss for this position we simply applied the above formulas.

____________ tend to focus on the logical soundness and preciseness of ideas, rather than the ideas’ practical values; they tend to work in research and planning units.
A. Convergers
B. Divergers
C. Assimilators
D. Accomodators

Answers

Answer:Assimilitors

Explanation:

The assimilators are the individuals who depend on the reflective observation and conceptualization on abstracts.

These are the set of individuals who seems to more concerned about the abstract ideas and concepts rather than concerned about about other people. The assimilators also focus on how precise and logically sound an idea is, rather than focusing on the practical values of the ideas. .

Distinguish among operating, investing, and financing activities for the statement of cash flows indirect method) Aurum Investments specializes in low-risk government bonds. Identify each of​ Vanderpool's transactions as operating​ (O), investing​ (I), financing​ (F), non-cash investing and financing​ (NIF), or a transaction that is not reported on the statement of cash flows​ (N). Indicate whether each item increases​ (+) or decreases ​(minus​) cash. The indirect method is used for operating cash flows.
A. Acquisition of equipment by issuance of note payable
B. Purchase of long-term investment with cash
C. Issuance of long-term note payable to borrow cash
D. Increase in prepaid expenses
E. Decrease in accrued liabilities
F. Loss of sale of equipment
G. Decrease in accounts receivable
H. Depreciation of equipment
I. Increase in accounts payable Amortization of intangible assets
K. Purchase of treasury stock
L. Payment of long-term debt
M. Increase in salary payable
N. Cash sale of land
O. Sale of long-term investment
P. Acquisition of building by cash payment
Q. Net income
R. Issuance of common stock for cash
S. Payment of cash dividend

Answers

Answer and Explanation:

The cash flow statement includes three categories of activities which are listed below:

1. Operating activities: This covers all transactions that after net income impact the working capital. This will subtract the rise in current assets and a reduction in current liabilities, while adding the decline in current assets and a rise in current liabilities.

It will manage some adjustments in working capital. For addition, the depreciation expenses are applied to the net profit and the loss on the selling of assets is added, while the profit on the sale of assets is deducted

2. Investing activities: it tracks operations that involve purchasing and selling long-term properties. The buying is a cash outflow while the sale is a cash inflow

3. Financing operations: it tracks transactions that have an impact on long-term debt and equity balance of shareholders. Share issue is a cash inflow while redemption and dividends are cash outflows.

Based on the above explanation, the classification is as follows

A. , non-cash investing and financing​ (NIF), as it does not involve any cash transactions

B. Investing activity as this reflects the cash outflows

C. Financing activity as this reflects the cash inflows

D. Operating activity as this reflects the cash outflows

E. Operating activity as this reflects the cash outflows

F. Operating activity as this reflects the cash inflows

G. Operating activity as this reflects the cash inflows

H. Operating activity as this reflects the cash inflows

I. Operating activity as this reflects the cash inflows

J. Operating activity as this reflects the cash inflows

K. Financing activity as this reflects the cash outflows

L. Financing activity as this reflects the cash outflows

M. Operating activity as this reflects the cash inflows

N. Investing activity as this reflects the cash inflows

O. Investing activity as this reflects the cash inflows

P. Investing activity as this reflects the cash outflows

Q. Operating activity as this reflects the cash inflows

R. Financing activity as this reflects the cash inflows

S. Financing activity as this reflects the cash outflows

5. True or False: Section 508 only effects employees who work with technology and procurement, not employees such as meeting coordinators, content authors, or professional disaster response employees.

Answers

Answer:

False

Explanation:

Section 508 applies to all employees. There is no discrimination i the law on the basis of job role and job descriptions. Even small businesses require section 508 compliance for their employees. It is better to comply with all the applicable laws to avoid any penalty or punishment for the organization.

The given statement is false.

The following information should be considered:

Section 508 should be applied to all types of employees. Here there should not be any discrimination.Every small business needed section 508 for complying with respect to the employees so that the penalty or punishment should be avoided.

Therefore, we can conclude that the given statement is false.

Learn more: brainly.com/question/6201432

Purves Corporation is using a predetermined overhead rate that was based on estimated total fixed manufacturing overhead of $121,000 and 10,000 direct labor-hours for the period. The company incurred actual total fixed manufacturing overhead of $113,000 and 10,900 total direct labor-hours during the period. The predetermined overhead rate is closest to

Answers

Answer:

Predetermined manufacturing overhead rate= $12.1 per direct labor hour

Explanation:

Giving the following information:

Estimated total fixed manufacturing overhead= $121,000

Estimated direct labor hours= 10,000

To calculate the predetermined manufacturing overhead rate we need to use the following formula:

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Predetermined manufacturing overhead rate= 121,000/10,000

Predetermined manufacturing overhead rate= $12.1 per direct labor hour

1. The design and management of seamless, value-added processes across organizational boundaries to meet the real needs of the end customer is called A. demand management. B. distribution channel management. C. supply chain management. D. logistics management.

Answers

Answer:

C. supply chain management.

Explanation:

The term that is being described is known as supply chain management. In other words, this term refers to the management of the flow of goods and services as well as all the processes involved in transforming raw materials into the final product. This is used by many large corporations in order to streamline the supply side activity in order to try and gain a competitive advantage in the marketplace.

You possess a SECRET personnel security clearance and have been assigned to work on Project X. Carlos is your superior and has a TOP SECRET personnel security clearance. Carlos has asked to see a Secret document in your possession related to Project X. Carlos is not part of the Project X team and does not have a "need-to-know." Should you share that classified document with Carlos

Answers

Answer:

No. The classified document should not be shared with Carlos

Explanation:

Based on the information given the classified document should not be shared with Carlos because Carlos is not part of the Project X team and he does not have a "need-to-know" secondlly no one else is supposed to be given automatic access to the Secret document in my possession related to Project X or the classified information solely because the person is my superior or because of the person rank, position or security clearance.

No you should not as Carlos does not have "need-to-know" clearance.

When involved in a secret project, there are only certain people that you can talk to about what goes in the project and these include:

your colleagues in the project with similar security clearancepeople outside the project that have a "need-to-know" clearance

Carlos might be your boss but not only is he not working on the project, he does not have a need-to-know clearance basis.

In conclusion, you should not share classified documents with Carlos and he is breaching ethical and possibly legal rules by asking you for them.

For more information, look at https://brainly.com/question/15061151.

Galena is a new agent for a financial services company. She decides to join the local chamber of commerce, the local association of businesswomen, and the local chapter of the United Way organization. Galena is attempting to use

Answers

The answer is networking, if there’s more to it then it’s networking to generate leads.

Even Better Products has come out with a new and improved product. As a result, the firm projects an ROE of 20%, and it will maintain a plowback ratio of 0.30. Its projected earnings are $2 per share. Investors expect a 14% rate of return on the stock.

a.
At what price and P/E ratio would you expect the firm to sell? (Do not round intermediate calculations. Round your answers to 2 decimal places.)

Price $
P/E ratio
b.
What is the present value of growth opportunities? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

PVGO $
c.
What would be the P/E ratio and the present value of growth opportunities if the firm planned to reinvest only 20% of its earnings? (Do not round intermediate calculations. Round your answers to 2 decimal places.)

P/E ratio
PVGO $

Answers

Answer and Explanation:

The computation is shown below:

a. The price and P/E ratio is

Price = Current year dividend ÷ (Required rate of return - growth rate)

where,

Growth rate is

= ROE × plowback ratio

= 20% × 0.30

= 6%

And, the current year dividend is ×

= $2 × (1 - 0.30)

= $1.4

So, the price is

= $1.4 ÷ (0.14 - 0.06)

= $17.50

Now the P/E ratio is

= $17.50 ÷ 2

= 8.75

b) For the present value of growth opportunities, the formula and the computation is

= Price of the stock - earnings ÷ required rate of return

= $17.50 - $2 ÷ 0.14

= 3.21

c) The P/E ratio and the present value of growth opportunities is

But before that we need to find out the price which is

Price = Current year dividend ÷ (Required rate of return - growth rate)

where,

Growth rate is

= ROE × plowback ratio

= 20% × 0.20

= 4%

And, the current year dividend is

= $2 × (1 - 0.20)

= $1.6

So, the price is

= $1.6 ÷ (0.14 - 0.04)

= $16

Now the P/E ratio is

= $16 ÷ 2

= 8

And, the growth opportunities is

= Price of the stock - earnings ÷ required rate of return

= $16 - $2 ÷ 0.14

= 1.72

The exchange rate is: the price of one nation's currency in terms of the currency of another nation. the amount households will spend on imports. the amount of foreign capital a nation receives when there is a trade surplus. the amount charged by bankers for loanable funds

Answers

Answer: the price of one nation's currency in terms of the currency of another nation.

Explanation: The rate of exchange can simply be explained as the worth or value of a country's currency in terms of the currency of another country. It gives an aggregate amount of the value of currency held by a certain person or spent in a particular country in terms of the currency of choice in another country. The exchange rate of currencies is usually determined by the market forces of demand and supply even though some aren't. For example, the rate at which one can convert a certain amount of British pounds to it's equivalent amount in U.S dollar is the exchange rate of British pounds to U.S dollars.

Analysts are forecasting LifeTech Corporation's common stock price to be $120 at the end of one year. Also, LifeTech will pay a dividend of $2.60 one year from now. You plan to buy the stock now and sell at the end of one year. If you require a 13% return, what would you be willing to pay to buy the stock now

Answers

Answer:

Price to pay now for the stock = $96.278

Explanation:

The price of the stock would be the present value(PV) of the future cash flow expected from it discounted at the required rate of 13%

Hence we would add the present value of he dividend and the resent of he price at the end of the period

PV = CF × (1+r)^(-n)

CF- Cash Flow

R- rate of return- 13%

n- number of years

PV of dividend = 2.60 × (1.13)^(-1) = 2.30

PV of stock price after a year = 120× (1.13)^(-1) = 93.97

Price to pay now for the stock = 2.30 + 93.97 = $96.278

Price to pay now for the stock = $96.278

Francisco and Maria have three children and want to complete a detailed worksheet to determine the amount of life insurance they need to purchase. They will consider factors such as Social Security and liquid assets. Which method are they using to determine their life insurance needs?

Answers

Answer: Family need method

Explanation:

The family need method is used to estimate the life insurance needs based on what the family really needs.

From the question, we are informed that Francisco and Maria have three children and want to complete a detailed worksheet to determine the amount of life insurance they need to purchase and they considered factors such as Social Security and liquid assets. This shows that the family needs method is utilized.

An insured's disability income policy includes an additional monthly benefit rider. For how many years can the insured expect to receive payment from the insurer before Social Security benefits begin?

Answers

Answer:

1 Year

Explanation:

This is because, the additional monthly benefit rider stipulates that the insurer will only pay benefits comparable to what Social Security would pay. Therefore, after a year, the insurer ends the benefit and assumes that Social Security will begin benefit payment.

Hence, the insured expect to receive payment from the insurer for ONE YEAR before Social Security benefits begin.

On January 1, 2017, Blossom Company had Accounts Receivable of $51,600 and Allowance for Doubtful Accounts of $4,100. Blossom Company prepares financial statements annually. During the year, the following selected transactions occurred:
Jan. 5 Sold $4,600 of merchandise to Rian Company, terms n/30.
Feb. 2 Accepted a $4,600, 4-month, 9% promissory note from Rian Company for balance due.
12 Sold $11,100 of merchandise to Cato Company and accepted Cato’s $11,100, 2-month, 10% note for the balance due.
26 Sold $11,700 of merchandise to Malcolm Co., terms n/10.
Apr. 5 Accepted a $11,700, 3-month, 8% note from Malcolm Co. for balance due.
12 Collected Cato Company note in full. June 2 Collected Rian Company note in full.
15 Sold $2,100 of merchandise to Gerri Inc. and accepted a $2,100, 6-month, 12% note for the amount due.
Journalize the transactions. (Omit cost of goods sold entries.)

Answers

Answer:

Blossom Company

Journal Entries:

Jan. 5

Debit Accounts Receivable (Rian Company) $4,600

Credit Sales Revenue $4,600

To record credit sales.

Feb. 2:

Debit 9% Note Receivable $4,600

Credit Accounts Receivable $4,600

To record the transfer.

Feb. 12

Debit Notes Receivable (Cato Company) $11,100

Credit Sales Revenue $11,100

To record the sale in exchange for 10% note.

Feb. 26:

Debit Accounts REceivable (Malcom Co.) $11,700

Credit Sales Revenue $11,700

To record sales on account, terms n/10.

Apr. 5:

Debit Notes Receivable $11,700

Credit Accounts Receivable $11,700

To transfer the balance to a 3-month 8% notes receivable

Apr. 12:

Debit Cash Account $11,285

Credit Interest on Notes Receivable $185

Credit Notes Receivable $11,100

To record full settlement of notes receivable.

Apr. 15:

Debit Notes Receivable $2,100

Credit Sales Revenue $2,100

To record the sale of goods and acceptance of 6-month 12% note.

Explanation:

Journal entries record business transactions for the first time. The accounts to be debited and credited are identified and these are entered into the journal. It is from the journal that postings are made to the general ledger.

The legal document identifying the rights and obligations of both the bondholders and the issuer is called the bond ______. This document describes the number of bonds authorized, their par value, and the contract interest rate. agreement document indenture article

Answers

Answer: indenture

Explanation:

The bond indenture is a legal contract that or covers a purchase obligation or a debt.

Therefore, the legal document identifying the rights and obligations of both the bondholders and the issuer is called the bond indenture. This document describes the number of bonds authorized, their par value, and the contract interest rate.

Paper Exchange has 80 million shares of common stock outstanding, 60 million shares of preferred stock outstanding, and 50 thousand bonds. If the common shares are selling for $20 per share, the preferred shares are selling for $10 per share, and the bonds are selling for 105 percent of par, what would be the weight used for preferred stock in the computation of Paper's WACC?

Answers

Answer:

26.64%

Explanation:

Common stocks outstanding (C) = 80 million

Preffered stock outstanding (P) = 60 million

Number of bonds (B) = 50,000

Cost of common stock (Cc) = $20 per share

Cost of Preffered stock (Cp) = $10 per share

Cost of bond (Cb) = 105% of par

Weight of preferred stock :

(P * Cp) / [(P*Cp) + (C*Cc) + (B * Cb * par value)]

(60mill * $10) / [(60mill * $10) + (80mill * $20) + (50000 * 1.05 * 1000)]

600mill / (600 mill + 1600mill + 52.5mill)

600,000,000 / 2252500000

= 0.2663706

= 26.64%

Japan, due to a lack of undeveloped land, would be an unusual choice of location for a U.S. cattle company to set up local grazing operations. This limiting factor would be identified in what part of Porter’s determinants of national advantage?

Answers

Answer:

It is A. Factors of production

Explanation:

How does price war affect businesses?

Answers

Price wars can come at a high cost since it decreases a company's profit margins in the short-term. However, price wars can help companies gain a sizable increase in market share and lead to more profitability in the long-term.

Carlton Company uses the percent of sales method to estimate its bad debt expense. Based on past experience, the company estimates 2 percent of credit sales to be uncollectible. At the end of the current year, the company's unadjusted trial balance shows Accounts Receivable of $245,000 and Credit Sales of $900,000. Prepare the necessary December 31 adjusting entry by selecting the account names and dollar amounts from the drop-down menus.

Answers

Answer and Explanation:

The Journal entry is shown below:-

Bad debts expense Dr, $18,000 ($900,000 × 2%)

To Allowance for doubtful accounts $18,000

(Being bad debt expense for the year is recorded)

Here we debited the bad debt expenses as it increased the expenses and we credited the allowance for doubtful accounts as it decrease the value of the assets

There is a flexible exchange rate system and only two countries in the world, the United States and Mexico. If the inflation rate in the United States rises relative to the inflation rate in Mexico, it follows that:________.

Answers

Answer: If the inflation rate in the United States rises relative to the inflation rate in Mexico, it follows that: depreciation in the US dollars in terms of pesos.

Explanation:

Inflation is a rate at which the mean price level of a group of selected goods and services in an economy increases over a period of time.

A rise in inflation means that the cost of raw materials increases. Then, workers demand higher wages to survive with the higher cost of living. This rise in prices can also cause greater volatility and uncertainty.It cause the depreciation of the value of currency.

If the inflation rate in the United States rises relative to the inflation rate in Mexico, it follows that depreciation in the value of US dollars in terms of pesos.

[Currency of Mexico = pesos]

Gomez Corp. Uses The Allowance Method To Account For Uncollectibles. On January 31, It Wrote Off An $2,100 (2024)
Top Articles
Latest Posts
Article information

Author: Nathanial Hackett

Last Updated:

Views: 6246

Rating: 4.1 / 5 (52 voted)

Reviews: 83% of readers found this page helpful

Author information

Name: Nathanial Hackett

Birthday: 1997-10-09

Address: Apt. 935 264 Abshire Canyon, South Nerissachester, NM 01800

Phone: +9752624861224

Job: Forward Technology Assistant

Hobby: Listening to music, Shopping, Vacation, Baton twirling, Flower arranging, Blacksmithing, Do it yourself

Introduction: My name is Nathanial Hackett, I am a lovely, curious, smiling, lively, thoughtful, courageous, lively person who loves writing and wants to share my knowledge and understanding with you.