Peyton is engaging in a sales strategy in which he would likely tell of the buyer that the land will increase twice as much in the following year if it has not been brought in which this strategy will be able to lure the buyer into thinking of whether he or she will buy the land or not.
Answer:
1. Accounts receivable due = Accounts receivable + Allowances
2008
= 760,100 + 26,259
= $786,359
2009
= 840,810 + 23,936
= $864,746
2. Amount of receivable written off = Beginning balance for Allowance for doubtful accounts + Bad debt - Closing balance for allowance for doubtful accounts
= 9,200 + 3,400 - 9,148
= $3,452
3. Gross sales = Net Sales + Sales returns
Sales Returns = Closing balance for reserve for product returns + goods returned - Opening balance for reserve for product returns
= 14,788 + 3,440 - 17,059
= $1,169
Gross sales in 2009 = 6,244,800 + 1,169
= $6,245,969
4. Cash collected = Credit Sales - Goods returned - Bad debts written off - Ending receivables balance + Beginning receivables balance
= 6,245,969 - 3,440 - 3,452 - 864,746 + 786,359
= $6,160,690
The answer to this question is: Voluntary exchange
In economy, voluntary exchange refers to the trade of resources between two parties that based on their own will.
This type of exchange usually could only happen because both parties feel that they will be advantaged from the exchange
Answer:
Explanation:
I. The analyst can see if the company is consistent in its performance.
II. The analyst can determine if there are good trends (i.e., improving margins), or bad trends (i.e., increased inventory turnover).
III. The analyst can identify liquidity or cash flow weaknesses and strengths.
IV. The analyst can determine if the firm will have sufficient collateral and free cash flow to support loan payments.
Answer:
Please find the detailed answer as follows:
Explanation:
a) The cost of obtaining an MBA degree for someone who is employed in a business position normally is a deductible education expense. But if the reason for taking course is to qualify her for a new trade or business then the expense will not be deductible or disallowed.
Reasons Deductible or Nondeductible
- It is to maintain or improve existing skills required in her present job. Deductible
- It is to meet the minimum educational standards for qualification in her existing job. Deductible
- It is to qualify her for a new trade or business. Nondeductible
.
- It is to meet the express requirements of her employer or the requirements imposed by law to retain her employment status. Deductible.
b) $4,000 will be allowed as deduction for qualified tuition under § 222. Except for this amount of tuition portion, Jamie must itemize to claim the deduction and it will also be subject to the 2% of AGI limitation.