Answer:
The appropriate amount of Bad Debt Expense is $3,345.20.
Explanation:
The appropriate amount of Bad Debt Expense can be calculated as follows:
Bad debt expense = (Percentage of accounts receivable not yet due it will not collect * Accounts receivable not yet due) + (Percentage of receivables up to 30 days past due it will not collect * Amount of receivables up to 30 days past due) + (Parentage of receivables of receivables greater than 30 days past due it will not collect * Amount of receivables greater than 30 days past due) - Allowance for Uncollectible Accounts (credit) ……………………… (1)
Substituting the relevant values into equation (1), we have:
Bad debt expense = (7% * $7,500) + (20% + $2,300) + (46% * $2,000) - $400 = $3,345.20
Therefore, the appropriate amount of Bad Debt Expense is $3,345.20.
The answer to your question is c
Answer:
$685,000
Explanation:
First and foremost, the formula for determining the contribution margin ratio can be used to determine the target dollars sales as shown below:
contribution margin ratio=contibution margin/sales revenue
contribution margin ratio=16%
contribution margin required=pretax income+fixed costs
contribution margin required=$71,200+$38,400=$109,600
16%=$109,600/sales revenue
16%*sales revenue=$109,600
sales revenue=$109,600/16%
sales revenue=$685,000
Answer:
The Sammy and Monica’s medical expense deduction for regular income tax purposes is $17,750.
Explanation:
For the purpose of regular income tax, the deduction pertaining to medical expenses are available up to the extent it exceeds 10% of AGI.
Deduction available = excess expenses incurred - 7.5% of AGI
= ($16,000 + 4,000 + 2,500
+5,000) - 7.5%*130000
= 27500 - 9.750
= $17,750
Therefore, The Sammy and Monica’s medical expense deduction for regular income tax purposes is $17,750.
Answer:
The answer is: A) strategic alliance
Explanation:
A strategic alliance is an agreement between two or more independent companies to participate in a mutually beneficial project. The companies share resources for this specific project while remaining independent in all their other business activities.
This is usually done to try to enter a new market or to develop a new product.
