Use this information to answer the following question. The general ledger account for Accounts Receivable shows a debit balance of $50,000. Allowance for Uncollectible Accounts has a credit balance of $1,000. Net sales for the year were $500,000. In the past, 2 percent of sales have proved uncollectible, and an aging of accounts receivable accounts results in an estimate of $13,500 of
uncollectible accounts. Using the percentage of net sales method, Uncollectible Accounts Expense would be debited for
A) $9,000.
B) $11,000.
C) $1,000.
D) $10,000.
D
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The ________ for a guest paying for a night's stay at a hotel is the use of a bed, bathroom, towels, dresser, light, and closet
A) actual product B) core product C) value-deliverable product D) customized benefit E) augmented product
In 2012, Wingen Inc sold 325,000 units at $8 each. Sales volume is expected to increase by 15 percent in 2013 while the price of each unit is expected to decrease by 15 percent. The expected sales revenue for 2013 is:
A) $ 373,750 B) $2,541,500 C) $1,878,500 D) $2,990,000
U.S. citizens pay $5 billion more annually for shoes and Japanese citizens pay $6 billion more for rice than the actual cost of the products because
A. these products were purchased at a lower price from nations that currently are under governmental sanctions. B. both products are considered essentials and as a result are more heavily taxed. C. both countries have imposed tariffs on imported goods to protect their domestic markets. D. both countries have suffered major financial crises due a severe trade imbalance. E. both countries have imposed limits on the quantity of these goods that can leave their respective domestic markets.
The measurement of compensatory damages for breach of contract is the same for all types of contracts.
Answer the following statement true (T) or false (F)