Answer: Option (A) is correct.
Explanation:
Each of the buyer and seller are small when we are relating it with the whole market. so, there will be no power in the hands of a single decision maker and if a firm wants to change their prices then it will not have any influence on the market price. In a competitive market, there are large number of buyers and sellers, thus, one buyer or seller doesn't have any impact on the market price.
Answer:
Hutters can be claim two dependents
Explanation:
we know here that Hutters can be claim two dependents
because here given Carla and Ellie as Aaron meets neither the residency nor citizenship requirement
but Carla is a qualifying relative and is under the age of 24
but Ellie is above 24 but is a qualifying relative as scholarship is non-taxable
so
we can say that answer is two
Answer:
The amount of bad debt expenses for the year 2018 is $38,000
Explanation:
In the given question we have been told that the allowance for bad debts is $8,000 which the uptown travel, Inc has made and also another information that has been given in the question is that the uptown travel Inc uses the aging of account receivable method , this a method where we are calculating the amount of uncollectible bad debt expenses.
In this question it is been given that there is $17,000 of amount that is written off and there is $29,000 of amount which is uncollectible , so we will add these amount , which will give us the total amount which is uncollectible,
= $29,000 + $ 17,000
= $46,000
But in the question it has been given to us that the uptown travel Inc ahs made a allowance for the bad debts, so we will subtract this amount from the total amount which is uncollectible to get the amount of bad debt expenses.
Bad debt expenses = $46,000 - $8,000
= $38,000
Example of a check. Look at the image I attached.
