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belka [17]
1 year ago
13

The following accounts were abstracted from Oriole Company's unadjusted trial balance at December 31, 2020: Debit Credit Account

s receivable $753000 Allowance for uncollectible accounts 7800 Net credit sales $2810000 Oriole estimates that 7% of the gross accounts receivable will become uncollectible. After adjustment at December 31, 2020, the allowance for uncollectible accounts should have a credit balance of
Business
1 answer:
Ronch [10]1 year ago
7 0

Answer:

$52,710

Explanation:

Calculation for allowance for uncollectible accounts credit balance

Using this formula

Allowance for uncollectible accounts credit balance=Estimated gross uncollectible accounts receivable *Accounts receivable

Let plug in the formula

Allowance for uncollectible accounts credit balance=7%* $753,000

Allowance for uncollectible accounts credit balance=$52,710

Therefore After adjustment at December 31, 2020, the allowance for uncollectible accounts should have a credit balance of $52,710

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The mean household income in a country in a recent year was about ​$77 comma 044 and the standard deviation was about ​$84 comma
rusak2 [61]

Answer:

a) Income of $272,428 or more would be top 1%.

b) Skewed right

c) Not always normally distributed

Explanation:

We are given the following information in the question:

Mean, μ = $77,044

Standard Deviation, σ = $84,000

Median = $58,423

a) We follow a normal mode

Formula:

z_{score} = \displaystyle\frac{x-\mu}{\sigma}

We have to find the value of x such that the probability is 0.01

P(X > x)  

P( X > x) = P( z > \displaystyle\frac{x - 77044}{84000})=0.03  

= 1 -P( z \leq \displaystyle\frac{x - 77044}{84000})=0.01  

=P( z \leq \displaystyle\frac{x - 77044}{84000})=0.99  

Calculation the value from standard normal z table, we have,  

\displaystyle\frac{x - 77044}{84000} = 2.326\\\\x = 272428

Thus, income of $272,428 or more would be top 1%.

b) We should not be confident as the median is not equal to the mean. Hence, it is not a normal distribution. It was just an assumption. Since the mean is greater than the median the distribution of income is skewed towards right.

c) Normal model not be a good one for​ incomes because the median may not always e equal to the mean and hence, they do not follow a normal distribution.

8 0
1 year ago
City Equipment announced this morning that its next annual dividend will be decreased to $1.90 a share and that all future divid
FrozenT [24]

Answer:

$10.16

Explanation:

Calculation for What is the current value per share if the required return is 16.8 percent

Using this formula

Current value per share Decreased in Annual dividend/Decreased in future dividends +Required return

Let plug in the formula

Current value per share =$1.90/1.9 percent+16.8 percent

Current value per share =$1.90/0.187

Current value per share =$10.16

Therefore the current value per share if the required return is 16.8 percent will be $10.16

4 0
2 years ago
ack, the local farmer, grew various vegetables and fruit over the summer. He had a food stand that people could stop at for purc
Anna007 [38]

Answer:,S25

Explanation:

The sales agreement between Jack is and Farmer was for a consideration of S75, the consideration for the purchase of tomatoes from another farmer is S100, this invariably means Jackie has incurred an additional S25 to purchase the tomatoes than he will normally has paid for it. This sum of S25 his what she will get in a lawsuits.

5 0
2 years ago
If IBM manufactures a computer in the United States and sells it to a French business firm in Paris, it will cause an increase i
photoshop1234 [79]

Answer:

B

Explanation:

When goods produced in a country are sold to other countries, it is known as export.

When a country purchases a foreign produced good, it is known as import

the difference between export and import is known as net export.

Net export increases when export increases and decreases when import decreases.

As a result of the sale of the computer, US net export would increase and France's net export would decrease.

7 0
2 years ago
Zippy is earning ​$30 comma 000 per year working for​ joe's car repair. he also has savings of ​$150 comma 000​, on which he is
jok3333 [9.3K]

Zippy's economic profit is $80,000.

Economic Profit = Revenues - (Explicit Cost + Implicit Cost)

Implicit cost or opportunity cost refers to the loss an individual incurs from an alternative decision, as a result of making a decision.

In this question, Zippy's implicit costs are the $30,000 from his job at Joe's car repair.

Additionally, he loses the 10% interest he would have earned on his savings of $150,000 had he not started his business.

So Zippy's implicit cost is $45,000 ($30,000 + $15,000)

5 0
2 years ago
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