if you’re like most college students, you are always worried about having enough money. suppose that you decide to become an uber driver and offer rides to students on weekends. for a fee, you will drive them to parties and pick them up at the end of the night. the table below depicts the demand schedule for rides. to keep things simple, assume that you are the only person providing this service; that is, you’re a monopolist. let’s see how much money you can make.

Gideon company uses the allowance method of accounting for uncollectible accounts. on may 3, the gideon company wrote off the $2,200 uncollectible account of its customer, a. hopkins. on july 10, gideon received a check for the full amount of $2,200 from hopkins. the entry or entries gideon makes to record the write off of the account on may 3 is:

Agood for which demand increases as income rises is and a good for which demand increases as income falls is

Solomon chemical company makes three products, b7, k6, and x9, which are joint products from the same materials. in a standard batch of 320,000 pounds of raw materials, the company generates 70,000 pounds of b7, 150,000 pounds of k6, and 100,000 pounds of x9. a standard batch costs $3,840,000 to produce. the sales prices per pound are $10, $14, and $20 for b7, k6, and x9, respectively. (a) allocate the joint product cost among the three final products using weight as the allocation base. (b) allocate the joint product cost among the three final products using market value as the allocation base. (c) allocate the joint product cost among the three final products using weight as the allocation base.