Answer:
A credit entry of $96,000
Explanation:
When a company makes sales on account, debit accounts receivable and credit sales. Based on assessment, some or all of the receivables may be uncollectible.
To account for this, debit bad debit expense and credit allowance for doubtful debt. Should the debt become uncollectible (i.e go bad), debit allowance for doubtful debt and credit accounts receivable.
Given that Past experience indicates that the allowance should be 10% of the balance in receivables
Allowance = 10% * $600,000
= $60,000
Amount written off of $90,000 would have made the balance in the allowance for doubtful debts to
= $90,000 - $54,000
= $36,000 (Debit)
However, the balance in the account at the end of the year should amount to $60,000 hence the adjustments required
= $60,000 + $36,000
= $96,000 (credit)
Answer:
Leniency
Explanation:
In business, leniency refers to a of mistake that occurred when you do not take instruction from your superior or client too seriously.
Typically, this will resulted in a confrontation since the one who pay for your labors believed that you just take their money without wanting to provide good results.
In the example above, from 30 employees, Angor rate 25 of them with an exact same rating. (8 from possible 1-10). This will most likely occur because Angor did not really use a strong/proper requirements for the scoring.
Answer:
The price of the airplane today is $24.15
Explanation:
In this question, we proportionate the items
Since, for the 1983 year, the price is given and the CPI for today and in 1983 is also given.
So, the price of the airplane would be
= CPI today × (Price in 1983 ÷ CPI in 1983)
= $24.15
We divide the 1983 price with the 1983 CPI and then multiply the CPI to get the price for today.
17000 was the cost per mile to the nearest cent.
<h3>What does a mile typically cost?</h3>
- Fuel costs 10.72 cents on average per mile, although actual costs might vary greatly depending on the fuel efficiency of the car.
- Owners of electric vehicles pay an average of 3.66 cents per mile compared to pickup truck owners who pay 15.81 cents per mile.
- Costs for upkeep and repairs come to 9.55 cents per mile.
<h3>How much will a mile of driving in 2022 cost?</h3>
- The optional standard mileage rate for the final six months of 2022 was raised from 58.5 cents per mile to 62.5 cents per mile on June 9, 2022, according to Internal Revenue Service Announcement 2022-13.
- Travel will be charged at the new rate starting on July 1, 2022, through December 31, 2022.
learn more about cost per mile here
<u>brainly.com/question/2507966</u>
#SPJ4
Answer:
The correct answer is option e.
Explanation:
Scholarships may or may not be taxable. Scholarships are generally tax-free when they are used to pay for tuition, books and other necessary equipment.
Here, Nicole is getting a scholarship of $52,000 for the year 2018.
She is spending $40,000 on tuition, $5,000 for books and $7,000 for room and board.
The total expenses are
=$(40,000+5,000)
=$45,000
So, out of $52,000 non taxable amount is $45,000.
Nicole will be taxed for $7,000 and will be exempted from tax for $45,000.
