Answer:
The IRS requires employers to report wage and salary information for employees on Form W-2. Your W-2 also reports the amount of federal, state and other taxes withheld from your paycheck. As an employee, the information on your W-2 is extremely important when preparing your tax return.
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:
The operating income for the year is $97,000
Explanation:
For computing the operating income, first, we have to calculate the cost of goods sold. The formula to compute the cost of good sold is shown below:
= Beginning merchandise inventory + Purchases during the year - Ending merchandise inventory
= $33,200 + $92,000 - $35,000
= $90,200
Now, the operating income would be
= Sales - the cost of good sold - selling and administrative expenses
= $262,900 - $90,200 - $75,700
= $97,000
Based on the information given, the amount that will be recognized as unrestricted revenue in each of the years will be $100,000 and $900,000.
Unrestricted revenue simply means the donations that can be used by a company or group for purposes that meet the goals that were set aside.
From the information, the unrestricted revenue in June 30, 2020 will be:
= 10% × $1,000,000
= $100,000
The unrestricted revenue for June 30, 2021 will be:
= $1,000,000 - $100,000
= $900,000
Learn more about revenue on:
brainly.com/question/16232387
Answer:
Find attached complete question.
$ 750.10
Explanation:
In order to ascertain the value of C ,we need to equate the present value of the two streams of cash flows to each other as follows:
first stream:
$400/(1+6%)^1+$400/(1+6%)^2+$125/(1+6%)^3+$400/(1+6%)^4+$400/(1+6%)^5+$125/(1+6%)^6+$400/(1+6%)^7=$1,808.19
Second stream:
C/(1+6%)^1+C/(1+6%)^2-$250/(1+6%)^3-$250/(1+6%)^4-$250/(1+6%)^5+C/(1+6%)^6+C/(1+6%)^7
-$250/(1+6%)^3-$250/(1+6%)^4-$250/(1+6%)^5=-$594.74
C/(1+6%)^1+C/(1+6%)^2+C/(1+6%)^6+C/(1+6%)^7=C/0.9434+C/0.8900+C/ 0.7050+C/ 0.6651
simplification
C/0.9434+C/0.8900+C/ 0.7050+C/ 0.6651=C/(0.9434+0.8900+0.7050+0.6651)= 0.31216C
All in all:
$1,808.19 =-$594.74+ 0.31216C
$1,808.19+$594.74= 0.31216C
$2402.93
= 0.31216C
C=$2402.93* 0.31216 =$ 750.10