Answer:
$55,500
Explanation:
The computation of the net realizable value after the write off entry is show below:
The credit balance in allowance with terms to bad debts is
= $4,500 - $4,000
= $500
Now the net realizable value is
= ($60,000 - $4,000) - ($4,500 - $4,000)
= $56,000 - $500
= $55,500
Hence, the same is to be considered
Answer:
Company output will be maximized if Calvin makes all the decals and Hobbes makes all the chains.
-Calvin has a comparative advantage for making decals.
-Hobbes has a higher opportunity cost for making decals than Calvin.
Explanation: Each partner should focus on the task where he has a comparative advantage.
In the situation of Calvins: if someone has a comparative advantage in producing something, that means he also has a lower opportunity cost in practicing that object.
In the situation of Hobbes: if he has a higher opportunity cost for making decals, then Calvin has a lower opportunity cost for making decals.
Answer:
The correct answer is letter "A": An inherent limitation to internal control is the fact that controls can be circumvented by management override.
Explanation:
Internal controls limit fraud and other internal activities of the organizations. The organization put it in place to ensure the integrity of its finance and accounting. The main disadvantage of internal control is that it is driven by top executives, who can override internal controls for efficiency purposes but actually it could be being circumvented by collusion.
Actually the current tax bracket of 10% only accounts for
Mandy’s current income. Everyone has a tax bracket based on the entire income
that year. However in Mandy’s case, her income will increase by $5,000 if she
withdraw the entire $5,000. Therefore the tax bracket should also increase
since her total income increased.
However, since no additional data is available, let us assume
that the withdrawal of the entire $5,000 would not affect the current tax
bracket of 10%.
Calculating for the tax to pay = 10% of $50,000
= 0.10 * $50,000
= $5,000
<span>Therefore Mandy will pay $5,000 in tax and she will be left
by $45,000.</span>
Answer:
b. Bob will lose because as a threshold issue Kelly had no legal duty to rescue him.
Explanation:
In the statement, there is not evidence of Kelly's legal duty, which would obligate her to rescue Bob.
If Bob claims negligence, he must establish the duty of due care (which is missing because Kelly lacked it), breach of this duty, causation, foreseeable harm, and damages.
