Answer:
The accounts receivable balance on May 31 is $17850
Explanation:
First we need to determine the amount of credit sales for the month of May. The credit sales for May will be 70% of the total sales for May. Thus, the credit sales for May are,
Credit sales- May = 34000 * 0.7 = $23800
The accounts receivable balance at the end of May will contain the amount due from credit sales that are made in May that are still not collected and will be collected in the next month as per the company's policy.
Accounts receivable at the end of May = 23800 * 0.75 = $17850
Answer:
Mitigate his damages
Explanation:
By law, mitigation involves making effort to reduce losses. Now, an individual claiming damages or losses due to break in contract or a wrongful act by another individual has a duty under the law to mitigate those damages. That is to say, the plantiff is under a duty under the law to reduce the loss by taking advantage of any opportunity arising that may help.redice the losses or damages. However, in this case, the plantiff, who's the landlord Henry did not mitigate the loss by not attempting to or renting the accommodation out for the remaining six month. Thus, the damages would likely be reduced because he failed to mitigate his damages as he should have done as required under the law.
<span>Which person should decide upon the problem statement the team will be working toward? All group members. All group members should be working towards the problem statement, problems, and anything resulting a team project. The project is in a team format for a reason, so that everyone works together.
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Answer:
$5,000
Explanation:
Money received as scholarship and used to pay for tuition or related expenses is not included in the gross income. So the $1,000 scholarship from the Thespian Club and the $4,000 scholarship from the Elks Lodge are not taxable. The only taxable income that Henry earned is the $5,000 that he was paid for being a dorm supervisor.
Answer:
b. Married filling jointly
Explanation:
From the question we are informed about taxpayer's spouse who dies in August of the current year. In this case,
the taxpayer's filing status for the current year would be Married filling jointly. Joint return can be regarded as tax return which is been filed with the Internal Revenue Service by two married taxpayers that decide to have a filing status of "married filing jointly" or a widowed taxpayer that decide to have a filing status of " Qualifying Widow "A joint return give room for the
taxpayers to join their tax liability as well as report their income, credits and
deductions on the same joint return.
The joint return rates still validly
apply even two year after the death of a particular spouse, so far the
surviving spouse of the dead spouse does not remarry and still maintains a household as regards a dependent child.
