Acompany uses the percent of sales method to determine its bad debts expense. at the end of the current year, the company's unadjusted trial balance reported the following selected amounts: accounts receivable $ 385,000 debit allowance for uncollectible accounts 600 credit net sales 900,000 credit all sales are made on credit. based on past experience, the company estimates that 0.4% of net credit sales are uncollectible. what amount should be debited to bad debts expense when the year-end adjusting entry is prepared? multiple choice $1,030 $1,630 $3,080 $3,600 $4,280

Lynch company manufactures and sells a single product. the following costs were incurred during the company’s first year of operations: variable costs per unit: manufacturing: direct materials $ 12 direct labor $ 6 variable manufacturing overhead $ 1 variable selling and administrative $ 1 fixed costs per year: fixed manufacturing overhead $ 308,000 fixed selling and administrative $ 218,000 during the year, the company produced 28,000 units and sold 15,000 units. the selling price of the company’s product is $56 per unit. required: 1. assume that the company uses absorption costing: a. compute the unit product cost. b. prepare an income statement for the year. 2. assume that the company uses variable costing: a. compute the unit product cost. b. prepare an income statement for the year.

How has apple been able to sustain its competitive advantage in the smartphone industry? a. by reducing its network effects b. by targeting its new products and services toward laggards c. by driving the price for the end user to zero d. by regularly introducing incremental improvements in its products

Which of the following results in an increase in the standard of living? a. an increase in unemployment pushes down the cost of production. b. wages go up to correct for the inflation of prices. c. income increases, enabling consumers to buy more goods and services. d. rising production costs drive up the price of goods and services.