Answer:
$960,000
Explanation:
The computation of the net realizable value (book value) of the receivable is shown below:
= Balance of accounts receivable - the balance of allowance for uncollectible account
= $1,000,000 - $40,000
= $960,000
Simply we deduct the balance of allowance for an uncollectible account from the Balance of accounts receivable so that the correct amount can come.
All other information which is given is not relevant. Hence, ignored it
b. all of the above
c. paycheck
d. ATM receipts
Answer:
Taking these three transactions into account, what is the effect on GDP?
c.GDP increases by $5.00
Explanation:
The Gross Domestic product usually abbreviated as the GDP, is a measure of how much a goods and services a country can produce during a particular time period. The quantity of goods and service is usually expressed in monetary terms. it serves a a broad measure of a country's overall economic status. A higher GDP usually implies that the quantity of goods and services being produced in monetary terms is very high, there for it can be concluded that the general health of the economy is good.
To determine the GDP in our case, we need to determine the total value of a finished product to determine how much the GDP changes. The intermediate good is not included since it is not sold as a finished product but as a raw material in the production of a finished product. The following commodities are sold as finished products, for example; the bread and the second bag of floor. The change on GDP is as follows;
Change in GDP=Final GDP-initial GDP
where;
Change in GDP=unknown, to be determined
Final GDP=0+3+2=$5.00
initial GDP=assumed to be 0
replacing;
Change in GDP=5-0=$5.00
The effect on GDP is an increase of $5.00.
Answer:
The army contract
Explanation:
Productivity can be measured by output per hour. i.e.
dividing the total output by hours worked.
productivity = output/hours worked
The navy contract
output =4,300
the hours worked = 20 workers working for two weeks, each week has 40 hours
Each worker worked 40 x 2 hours = 80 hours
20 workers worked for
80 hrs x 20
= 1600 hours
Productivity = 4,300/1600
=2.6875
For the military contract
output = 8300
hours worked
= 25 workers in three weeks, each week 40 hours
each worker worked, 40 x 3 hours = 120 hours
Twenty-five workers:
=25 x 120 hours
= 3000 hours
Productivity = 8300/3000
=2.766
The productivity for the military contract (2.766) was higher than for the navy contrac t(2.6875).
Answer:
A market economy is when all the resources are owned individuallyExplanation:
Answer:
Debit Bad debt expense $9,257
Credit Allowance for doubtful accounts $9,257
(To record bad debt expense during the year)
So the amount of adjusting entry is $9,257.
Explanation:
The estimated total uncollectible amount was given as $6,622 meanwhile the company had a debit balance of $2,635 prior to the adjustment. This means $2,635 would be added to $6,622 to arrive at $9,257. That amount would serve as the adjusting amount in order to reinstate the balance in the allowance for doubtful accounts to $6,622.
So net realizable value of accounts receivable would be $38,098 ($44,720 - $6,622).
Answer:
Uncollectible Accounts Expense $ 9257
Explanation:
Accounts Receivable balance $ 44,720
The estimated total uncollectible accounts $ 6,622.
Unadjusted Allowance for Uncollectible Accounts 2,635 Dr.
Adjustment Required ( $ 6,622+ 2,635)= $ 9257
Adjusted Allowance for Uncollectible Accounts $ 9257 Cr
The Allowance for Uncollectibles must always have a credit balance . As we have a debit balance we add it to get the required credit balance adjusting amount.
The amount of the adjusting entry for
Uncollectible Accounts Expense is $ 9257
and the entry is
Bad debts Expense $ 9257 Dr.
Allowance for Uncollectibles $ 9257 Cr.
b. Supplier B
c. Supplier C
d. Cannot be determined
Answer:
Using Total Cost Analysis, it will be more cost-effective to use;
b. Supplier B
Explanation:
Total cost of ownership (TCO) can be defined as the total cost of an asset including the purchase cost and cost of operation of the asset. Assessing the TCO takes a bigger picture analysis of the overall cost of an asset. Most people usually don't consider the operating costs of an asset. This can prove detrimental in the long run when one starts going through unaccounted operation expenses. Unforeseen expenditure can lead to poor credit scores since one did not prepare for them.
When buying an asset, it is imperative to consider the sort-term and long-term costs. The short-term costs are the immediate costs that are often clearly identified in the initial stages. The short-term costs are purchase and transportation costs. The long-term costs are costs that will be incurred with time, over the life of an asset. Examples of long-term costs are; depreciation costs and operations costs.
In our case above, the best option would be Supplier B since it's total cost of ownership is cheaper compared to Supplier A and Supplier C.