Answer:
1. Age group = A
Amount of Accounts Receivable = B
Estimated % uncollectible = C
Estimated Amount Uncollectible = D
A B C D(B*C)
Not yet due $270,000 5% $13,500
1-45 days $37,500 10% $3,750
Over 45 days $15,000 15% $2,250
Estimated amount required in Allowance $19,500
for Doubtful Debts (Credit Balance)
Current Balance in Allowance for $67,500
Doubtful Debts (Debit Balance)
Required charge to Bad debts Expense $87,000
for the year
Thus, the Estimated 12/31/2021 balance for Dhaliwal’s allowance for uncollectible accounts (Credit Balance).
2. Journal Entry
Date Accounts and Explanation Debit Credit
Dec. 31 Bad debts Expense $87,000
Allowance for doubtful accounts $87,000
(To record the estimated bad debts)
B. medium of exchange.
C. store of value.
D. unit of account.
Answer:
B. medium of exchange.
Explanation:
Money as a medium of exchange is used to facilitate the selling and purchasing of goods and services between parties. Money is widely accepted as a standard of value by parties engaged in the exchange of commodities. It means that one party readily accepts an amount of money in exchange for a product or service that is believed to be worth the amount on offer.
Tara is exchanging her $50,000 for the house. Although the money is only a down-payment, it gives her the right to claim ownership of the house. Once she has fully paid for the house using money, she can only lay a claim on the house, not the money.
Corporate culture is a set of beliefs and behaviors that characterize members of an organization and define its nature. Organization's goals, strategies, structure, and approaches to labor, customers, investors are all part of the corporate culture.
A dysfunctional corporate culture can negatively affect employee, customer service and because of that also customer satisfaction. Positive culture on the other hand can improve the relationships with the customers and might even help attract new clients.
Answer:
correct option is a. average total cost and average fixed cost.
Explanation:
given data
license fee = $1,000 per year
solution
we know that cost curves shift will be express as when the increase in the price of factor of production increase cost and shift cost curves upward
so cost curves shift by the average total cost and the average fixed cost
so here correct option is a. average total cost and average fixed cost.
The government's $1,000 license fee increases both the average total cost and average fixed cost, but does not affect marginal cost. The average fixed cost curve shows the effect of spreading the overhead, meaning as more output is produced, the fixed cost per unit decreases.
The government imposes a $1,000 per year license fee on all pizza restaurants. This fee is a fixed cost, which means it doesn't change with the level of output produced. It will affect the restaurant's total costs, but not the costs associated with producing one more unit, or the marginal cost. Therefore, the cost curves that will shift are the average total cost and the average fixed cost.
A common name for fixed cost is "overhead." If you divide the fixed cost by the quantity of output produced, you get the average fixed cost. With a supposed fixed cost of $1,000, the average fixed cost curve would start from the intercept at $1,000 on the vertical axis (when output is zero), and it would decrease as the quantity of output increases, which represents the "spreading the overhead." This means that as you produce more, the fixed cost is spread over more units, and therefore the cost per unit decreases.
Answer:
When you are preparing a statement of cash flows, you start with operating income. Operating income is basically net income + adjustments. The adjustments that always increase the cash flows are depreciation expense and amortization expense. Even though they are not actual cash expenses, they reduce taxable income and therefore, total taxes paid.
c. social complexity.
d. path dependence.
Answer:
d. path dependence
Explanation:
Based on the scenario being described within the question it can be said that this is best illustrating the concept of path dependence. This term refers to how the set of decisions that individuals face is limited due to decisions that they have made in the past that will influence them, even though the past circumstances may no longer be relevant. As is the case in this scenario as Iceberg storage decided to stick with physical devices because it is what they did in the past and it worked out for them, but since times changed it did not work out this time.
Answer:
D
Explanation:
Path dependence
Path dependency occurs because it is often easier or more cost-effective to continue along an already set path than to create an entirely new one.
While most of Iceberg's competitors were shifting away from physical data storage devices toward online cloud storage services, Iceberg invested most of its retained earnings in the effort to improve its hard drives. Iceberg should have shifted away this is a case of path dependence