Answer: a bad debt expense
Explanation:
The estimated expense for accounts that may not be collected is referred to as. bad debt expense. Joyce Corp uses the percentage-of-receivables method to account for bad debt expense. Joyce determines that a customer account of $20,000 should be written off as uncollectible
Indicators that the local currency is also the functional currency include all of the following except the parent typically provides the financing or provides a guarantee.
A functional currency is one that is utilized in the main economic setting in which a company conducts business. This is the setting in which an entity generates and spends money most frequently. When defining the functional currency of an entity, the following key considerations should be taken into account:
The principal currency influencing retail prices (usually the currency in which prices are denominated and settled).
The money of the nation whose laws and competition have the biggest impact on retail pricing.
The principal currency affecting labor expenses and other costs of goods sold (usually the currency in which prices are denominated and settled).
The currency in which an entity keeps its operating receipts and the currency in which debt and equity instruments are issued are less important deciding factors.
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I am not very sure but I believe that the correct answer is True.
Answer:
Break-even point in units= 770
Explanation:
Giving the following information:
Selling price= $500
Unitary variable cost= $260
Fixed costs= $184,800
<u>To calculate the break-even point in units using the mathematical equation, we need to use the following formula:</u>
<u></u>
Net income= unit contribution margin*x - fixed costs
x= number of units
0= (500 - 260)*x - 184,800
184,800/240 = x
770=x
<u>Now, under the unit contribution margin method:</u>
Break-even point in units= fixed costs/ contribution margin per unit
Break-even point in units= 184,800/240
Break-even point in units= 770
Answer
Closing costs are calculated based on price of the house minus down payment
Explanation
Closing costs are either brought as cash to closing or financed into a loan.They are usually used when people buy or rent properties and the closing cost is the amount a person pays based on the down payment. To estimate the closing cost, you subtract the down payment from the purchase price of the home.