Answer: Bad Debt Expense 28,000 Allowance for Doubtful Accounts 28,000
Explanation:
Account receivable = 300,000
Percentage uncollectible = 10%
Current balance = 2000
Adjustment to allowance for uncollectible accounts is given by :
(Account receivable ×percentage uncollectible) - current balance
(300,000 × 10%) - 2000
(300,000 × 0.1) × 2000
30,000 - 2000 = 28,000
Therefore, adjustment should be :
bad debt expense debit 28,000
allowance for doubful account credit 28,000
The Affordable Care Act provides that individuals and families may take a tax credit called the <em>Health Insurance Premium Tax Credit </em>to help them purchase health insurance.
<h3>What is
Affordable Care Act? </h3>
The Affordable Care Act was enacted to reduce the cost of health insurance coverage for people who qualify for it.
The law of the Affordable Care Act make provision for premium tax credits and cost-sharing reductions to help the lower-income group.
Hence, the Act provides that individuals and families may take a tax credit called the <em>Health Insurance Premium Tax Credit </em>to help them purchase health insurance through a health insurance exchange.
Therefore, the Option C is correct.
Read more about Affordable Care Act
<em>brainly.com/question/15003073</em>
Answer: Justice.
Explanation:
Justice is not being totally applied by Lewis in controlling the marketing department, as he uses different controlling technique for his friends and a harsher control technique for others. For Lewis to be just, he has to apply same controlling techniques for all workers.
The Income Statement is a financial statement that reports the revenues, expenses, and net income or loss that resulted from a firm’s operations over an accounting period.
<u>Explanation:</u>
The Income Statement is one of the company’s center financial reports that confers their gain and loss over a remarkable time. The gain or loss is circumscribed by practicing all revenues and deducting all liabilities from both working and non-operating exercises.
The income statement is a vital element of a company’s execution reports that need to be yielded to the Securities and Exchange Commission (SEC). An income statement presents worthy insights into a company’s operations, the performance of its management, underperforming areas and its production applicable to industry rivals.
Answer:
$8.19 million
Explanation:
A movie star was paid $1 million in 1960 to do a movie
The CPI was 29.3 in 1960
The CPI in 2014 was 240
Therefore the amount that was earned in dollars by the movie star in 2014 can be calculated as follows
= 240/29.3
= 8.19 × $1 million
= $8.19 million
Hence the movie star earned $8.19 million in 2014