1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
WINSTONCH [101]
3 years ago
15

Manley operates a law practice on the accrual method and calendar year. At the beginning of the year Manley's firm had an allowa

nce for doubtful accounts with a balance of $13,900. At the end of the year, Manley recorded bad debt expense of $21,200 and the balance of doubtful accounts had increased to $19,800. What is Manley's deduction for bad debt expense this year?
Business
1 answer:
svlad2 [7]3 years ago
3 0

Answer:

$15,300

Explanation:

Allowance for doubtful account at the beginning of the year $13,900

Less increased in the balance of doubt account $19,800

Balance $5,900

Therefore:

Bad debt at the end of the year $21,200- $5,900 =$15,300

The bad debt expense represents the direct write off of bad accounts ($15,300) in which it also represents an increase in the allowance account which is an estimate of bad accounts to be written off in the future ($5,900). Therefore the increase in the allowance account cannot be deducted.

You might be interested in
5. Consider a firm redesigning its logistics network. What are the advantages to having a small number of centrally located ware
damaskus [11]

Answer:

Explanation:small number of centrally locates warehouses will make their products readily available in needed small quantities. While having a larger warehouse nearer to the end customers will make the product easily accessible

8 0
2 years ago
The current market value of the assets of ABCD is $86.28 million. The call option value on the firm's assets is $53.09 million.
Temka [501]

Answer: $33.19 million

Explanation:

From the question, we are informed that the current market value of the assets of ABCD is $86.28 million and that the call option value on the firm's assets is $53.09 million.

The market value of the firm's debt will be the difference between the market value of assets and the call option value of the firm's assets. This will be:

= $86.28m - $53.09m

= $33.19 million

6 0
3 years ago
Which is NOT an example of an expense a) advertising b)insurance c)dividends d)depreciation
docker41 [41]

Answer:

c. dividends

Explanation:

not payable... so

7 0
3 years ago
What are examples of short-term goals? Check all that apply.
Zolol [24]

Answer:

the right answer is Aden wants to get a summer job during his school vacation.

Explanation:

short-term goals are those that are aimed at meeting monthly

6 0
3 years ago
Read 2 more answers
The interest accrued on $7,500 at 6% for 90 days is:
Oksi-84 [34.3K]
405,000
HOPE THIS HELPS!!!!!!! ;-)
3 0
3 years ago
Other questions:
  • Suppose the yield on short-term government securities (perceived to be risk-free) is about 4%. Suppose also that the expected re
    6·1 answer
  • What is a common workflow error that can cause duplicate expenses in QuickBooks Online?
    14·1 answer
  • Martin owns his own motorcycle and ATV store. He notices that many of his customers talk about golf while in his store. He quick
    12·1 answer
  • Can someone help me please it’s urgent I’ll crown brainliest
    7·1 answer
  • Sole Purpose Shoe Company is owned and operated by Sarah Charles. The company manufactures casual shoes, with manufacturing faci
    5·1 answer
  • Given the following linear demand forecast: Demand = 50 + 10 X (where X is the desired forecast period), what is the predicted f
    12·1 answer
  • Discord? anyone? 0_0'
    7·2 answers
  • The price of a Honda Accord
    9·1 answer
  • nflation, recession, and high interest rates are economic events that are best characterized as being A.factors associated with
    5·1 answer
  • While in the short run an economic profit is more likely in an unregulated monopoly, ___________ may group competing resources a
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!