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9 hours ago

Fast Fine Foods markets some of its products to consumers looking for simple, quick meals. Fast Fine Foods also offers another l

ine of products targeted to people interested in low-fat, high-nutrition foods. The company's strategy of dividing the market into groups that want similar things from the products they buy is an example of___________. A) benefit segmentation.B) demographic segmentation.C) volume segmentation.D) target segmentation.

Business

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Suppose you short-sell 300 shares of XYZ stock at $30.19 with a commission charge of 0.5%. Supposing you pay commission charges

Nady [3600]

The profit amounts to $5.91. Based on the information presented: The number of shares sold is 300, the selling price is $30.19, and a commission fee of 0.5% equates to 0.005. The purchase price is $29.87. Let's calculate it: Total selling price = 300 × $30.19 = $9057. Therefore, proceeds from the sale are: Total selling price - Commission = $9057 - (0.005 × $9057) = $9,011.715. Furthermore, the purchasing cost for the shares is 300 × $29.87 = $8,961. The total expense incurred for purchase, including the commission, is $8,961 + (0.005 × $8,961) = $8,961 + $44.805 = $9,005.805. Consequently, profit is considered to be: Proceeds from sale - Total purchasing cost = $9,011.715 - $9,005.805 = $5.91.

8 0

2 months ago

Pincus Associates uses the allowance method to account for bad debts. During 2021, its first year of operations, Pincus provided

Free_Kalibri [3773]

Answer:

Which journal entry did Pincus make to account for uncollectible accounts in 2021?

During 2021, the company identified $10,800 as uncollectible accounts.

Dr Allowance for Uncollectible Accounts $ 10,800

Cr Accounts Receivable $ 10,800

And how is the bad debt expense recognized for 2021?

Pincus predicts that 5% of the accounts receivable as of 12/31/2021 will not be collected.

Dr Bad Debt Expense $ 1,520

Cr Allowance for Uncollectible Accounts $ 1,520

Explanation:

Pincus rendered services totaling $268,000 on credit.

Dr Accounts Receivable $ 268,000

Cr Sales $ 268,000

In 2021, $10,800 was identified as uncollectible accounts.

Dr Allowance for Uncollectible Accounts $ 10,800

Cr Accounts Receivable $ 10,800

Using the allowance method for bad debts, when an account is written off, the company records a debit to the Allowance for Uncollectible Accounts previously estimated, and a credit to accounts receivable to adjust the accounts receivable balance.

By year-end 2021, cash collected from accounts receivable amounted to $226,800.

Dr Cash $ 226,800

Cr Accounts Receivable $ 226,800

REMAINING BALANCE

Dr Accounts Receivable $ 30,400

Pincus assesses that 5% of the accounts receivable at 12/31/2021 will be uncollectible.

Dr Bad Debt Expense $ 1,520

Cr Allowance for Uncollectible Accounts $ 1,520

5 0

2 months ago

cathy's customer base is 2/3 residential and 1/3 business . if she has 350 residential customers, how many total customers does

Free_Kalibri [3773]

Cathy's clientele consists of two-thirds residential customers and one-third business customers, with 350 residential customers in total.

Determine:

The overall number of customers

Solution:

Considering 350 represents two-thirds of the total customers, divide 350 by 2 to get 175, which equals one-third of the customer base.

175 × 3 = 525

<span>Thus, the total customer count is 525.</span>

8 0

3 months ago

The following table shows a person's nominal and real wages for three years, as well as the price level (price index) for each y

marusya05 [3725]

Response:

Year Nominal wage Real wage Price level Inflation rate

1 $7 $5 140 None

2 $9 $6 150 7.14 %

3 $12 $7.5 160 6.67 %

Explanation:

Note: A visual representation of the table is also provided.

The price level for Year 1 is calculated as (Nominal wage in year 1/Real wage in year 1) multiplied by 100.

Thus, Price level in Year 1 = ($7.00 / $5.00) * 100

Resulting in Price level in Year 1 = 1.4 times 100

Which gives Price level in Year 1 = 140

To find Real wage in Year 2: (Nominal wage in year 2 / Price level in year 2) multiplied by 100.

Which gives Real wage in Year 2 = ($9.00 / 150.00) * 100

Thus, Real wage in Year 2 = $6

To calculate Nominal wage in Year 3: (Real wage in Year 3 * Price level in Year 3) divided by 100.

As a result, Nominal wage in Year 3 = $1,200 / 100

Leading to Nominal wage in Year 3 = $12

To determine Inflation rate in Year 2: (Price level in Year 2 - Price level in Year 1) divided by Price level in Year 1.

Therefore, Inflation rate in Year 2 = 10 / 140

Giving Inflation rate in Year 2 = 0.0714, or 7.14 %

For Inflation rate in Year 3: (Price level in Year 3 - Price level in Year 2) divided by Price level in Year 2.

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6 0

2 months ago