Answer:
Balking
Explanation: Balking means the tendency of an individual not to do something or let something happen due to the circumstances he /she feels is not conducive for he/she. if you balk at something, then you definitely do not want to do it
Answer:
d. $1050.
Explanation:
We multiply each account balance by the expected uncollectible amount and then addd them to get the expected total for doutful accounts
![\left[\begin{array}{cccc}Date&Amount&Expected&uncollectible\\$not due&10000&0.02&200\\$up to 30&5000&0.05&250\\$up to 60&3000&0.1&300\\$more than 61&800&0.5&400\\&&Total&1150\\\end{array}\right]](https://tex.z-dn.net/?f=%5Cleft%5B%5Cbegin%7Barray%7D%7Bcccc%7DDate%26Amount%26Expected%26uncollectible%5C%5C%24not%20due%2610000%260.02%26200%5C%5C%24up%20to%2030%265000%260.05%26250%5C%5C%24up%20to%2060%263000%260.1%26300%5C%5C%24more%20than%2061%26800%260.5%26400%5C%5C%26%26Total%261150%5C%5C%5Cend%7Barray%7D%5Cright%5D)
Balance of the allowance account: 100
The expense will be the adjustment made on the allowance to get the expected balance of 1,150
1,150 - 100 = 1,050
we increase the allowance bu 1,050 to get our expected uncollectible fro maccounts receivable agaisnt the bad debt expense ofthe period.
Answer:
$102,000
Explanation:
According to 26 US code Section 704(c) - Partner's distributive share :
Taxable gain to be recognized from sale = Sale value - ( Partner's share * Fair market value )
Brooke contributed the land, the gain realized before the land was contributed = $120,000 - $90,000 will be allocated entirely to her. She will also be allocated 40% of the gain after the contribution was made = ($150,000 - $120,000) x 40% = $30,000 x 40% = $12,000.
So the total gain recognized by Brooke will be $90,000 + $12,000 = $102,000.
Partnerships are pass through entities, the partners are taxed, not the partnership itself.
Answer:
A) debit interest expense, $1000
Explanation:
to determine the accrued interest expense = $100,000 x 6% x 2/12 = $1,000
the journal entry should be:
December 31, 2018, accrued interest expense on note payable:
Dr Interest expense 1,000
Cr Accrued interest payable 1,000
Accrual accounting establishes that expenses must be recognize during the period that they occur regardless of when they are paid. So we must recognize 2 months worth of interest.
Marginal utility is the extra satisfaction gained from consuming one more unit of a good.
