Answer: Given the unadjusted Allowance for Doubtful Accounts has a $50 debit balance, the amount of receivables written off was less than the amount estimated in the prior period. This will cause Bad Debt Expense to be less in the current period than had the unadjusted balance been a credit balance.
Answer:1000
Explanation:
Equipment decreases $6000 ($10000-$4000). Accumulated depreciation decreases $9000 ($22000+4000-$17000). $10000 cost -$9000 accumulated depreciation = $1000 cash received from sale.
Answer:
A. The value of the marginal product of apple pickers increases
B. The equilibrium price of apples increases.
F. The wage of apple pickers increases.
Explanation:
- In order to keep the healthcare costs low and increase the health care benefits of the people president proposed the apple a day law. Demand for the apples increase as and the equilibrium price of the apples also increases.
- There are no changes in the marginal producers of the apples. The values of the marginal producers of the apple increases. Demand for the apple pickers also increases along with the daily wages.
Answer:
d. $277,797
Explanation:
Savings = $7,500 for the first 6 years (t = 1 through t = 6)
Deposits = $15,000 for the following 6 years (t = 7 through t = 12)
Gifts = $25,000
Earnings = 9% annually
Calculation of the Final Amount by Savings, Deposits and Gifts:
Amount at the end of year 6
Interest rate 9.0%
1st Annuity (Savings) $7,500 $56,425 - Compounded at 9% 2nd Anuuity (Deposits) $15,000 NA
Gift $25,000 NA
Total Years 12
Annuity years 6
Amount at the end of year 12
$94,630
$112,850
$70,317
Final Amount: $277,797
Therefore, $277,797 is the final amount which you will have when you start your business 12 years from now.
Answer:
$17,000
Explanation:
Units sold = 3,000 units
Expected warranty = 3,000 * $8 = $24,000
Actual warranty costs = $7,000
Estimated warranty liability = $24,000 - $7,000 = $17,000
Therefore, Petal should report $17,000 as estimated warranty liability at June 30, Year 9.
