Answer:
$3,849.87
Explanation:
The change in balance is the net of the receipts and the payments.
The receipts include the receivables and the interest paid by the bank while the payments include the outgoing expenditure and bank charge.
Balance change
= $16,590 - $12,730 -$12.50 + $2.37
= $3,849.87
Answer:
The taxable income is $13000
Explanation:
The sell by California resident = $10000
The taxable gains = $2000
Given interest rate = $1000
Since during the year total amount received is the return of principal, gains, and interest rate. Therefore total amount = 10000 + 2000 + 1000 = $13000
Thus, the total amount received during the years is California taxable income.
Answer:
a) $200,000 to Jack
Explanation:
Data provided in the question
Life insurance policy amount of Marilyn Simms = $200,000
The primary beneficiary = Jack
The contingent beneficiaries = Their children
Now, the distribution of the policy could be taken by only Jack as he is her husband plus he is also a primary benefit of her life insurance policy,
So, the whole amount i.e $200,000 is distributed to Jack
I thinks the answer is 400,000 jp I jags need more answers
Answer: $4,811
Explanation:
Assuming 6% of outstanding accounts receivable at the end of the current year are estimated to be uncollectible that would be,
= 6% * 98,700
= $5,922
The Allowance for Doubtful Accounts acts as a buffer for the business when bad debts are incurred.
Bad debts are taken from the Allowance as the Allowance has already been removed from the Receivables.
In cases where Bad debts exceed the buffer in the Allowance for Doubtful Debt Account we take everything in it and the remaining bad debt amount is debited to Bad Debt expense.
That would be,
= 5,922 - 1,111
= $4,811
$4,811 is the amount that should be debited to Bad Debts Expense.
