Answer:
Explanation:
a). There will be no effect on net income on after consolidation.
b). On the off chance that P possesses 100% of S Stock, at that point inter-company administrations must be wiped out. Along these lines an adjustment in the degree of responsibility for auxiliary won't influence the measure of end on merged total compensation.
c). Computation of cost to Swift
$72,000 - $32,000
= $50,000
Answer:
Answer for the question:
Haskins and Jones, Attorneys-at-Law, maintains its books on a cash basis. During 2021, the law firm collected $610,000 for services rendered to its clients and paid out $425,000 in expenses. You are able to determine the following information about accounts receivable, prepaid expenses, deferred service revenue, and accrued liabilities: January 1, 2021 December 31, 2021 Accounts receivable $ 75,000 $ 67,000 Prepaid insurance 5,800 7,100 Prepaid rent 10,500 9,600 Deferred service revenue 10,500 12,200 Accrued liabilities (for various expenses) 13,500 17,700 In addition, 2021 depreciation expense on office equipment is $28,500. Required: Determine accrual basis net income for 2021.
is given in the attachment.
Explanation:
debit to Bad Debt Expense for $3,800
<h3>What is
Bad Debt Expense ?</h3>
When a receivable is no longer collectible because a customer is unable to fulfil their obligation to pay an outstanding debt due to bankruptcy or other financial problems, a bad debt expense is recognised.
If a company with $2,000,000 in sales expects 2% of sales to be uncollectible, their bad debt expense would be $40,000 ($2,000,000 * 0.02). Consider a roofing company that agrees to replace a customer's roof on credit for $10,000.
Are bad debts a cost or a liability? Bad debts are an expense to the business rather than a liability because the amount expected to be received from the debtor is irrecoverable and has a negative impact on the books of accounts by reducing accounts receivable.
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Macroenvironmental factors can be impacted by marketing. These factors are important in health care systems. The microenvironment of a firm includes the culture, demography, economy and political and legal issues.
The recent financial and healthcare reform bills provide examples of how marketing can be impacted by the economy.
Answer:
Document
Explanation:
Remittance advice is a document sent by a customer to a seller, informing the seller that an invoice has been paid.
