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Ne4ueva [31]
3 years ago
7

Ashley is an attorney who specializes in family law. She uses the cash method of accounting and is a calendar-year taxpayer. Las

t year, she represented a client in a lawsuit and billed the client $5,000 for her services. Although she made repeated attempts, Ashley was unable to collect the outstanding receivable. Finally, in November of the current year, she finds out that the individual has moved without leaving any forwarding address. Ashley’s attempts to locate the individual are futile. What is the amount, if any, of the deduction that she may claim in connection with this bad debt?
Business
1 answer:
LiRa [457]3 years ago
7 0

Answer:

The Answer is explained below

Explanation:

Ashley is unable to collect the outstanding receivable after repeated attempts. In order to claim any deduction in connection with this bad debt Ashley has to record the income first but Ashley is using the cash method of accounting here. Therefore she can only claim any deduction when she receives any payment.

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John Porter is an hourly employee of Motter Company located in New York City. This week, Porter had to travel to the company's r
Ilya [14]

Answer:

1. Overtime rate is $20.175

2. Total earnings are $699.4

Explanation:

1. OT rate - Overtime is typically paid at a rate of 1.5 times the normal hourly rate

OT rate = 1.5 x $13.45

OT rate = $20.175

2. Total earnings for John Porter

Sunday trip                = $20.175 x 3 hours   =+$60.525

Week normal hours  = $13.45 x 40 hours  = +$538

Training session        = $20.175 x 5 hours  = +<u>$100.875</u>

Total earnings                                                   <u>$699.4</u>

8 0
3 years ago
The graph above shows how the price of video games varies with the demand quantity. The equilibrium _____ is $50, and the equili
cricket20 [7]
<span>The graph above shows how the price of video games varies with the demand quantity. The equilibrium price is $50, and the equilibrium quantity is 200 video games.

Answer choice:

</span>A. price, quantity

Concept:

<span>Equilibrium is the point where supply and demand meet and the prices are set. Because the price is set as equilibrium.
</span>The quantity demanded is the amount of a product people are willing to buy at a certain<span> price.</span>
3 0
4 years ago
DailyFinance.com reported one $40 share of Coca-Cola’s stock bought in 1919, with dividends reinvested, would be worth $9.8 mill
Natasha_Volkova [10]

Answer:

28.42

Explanation:

js add the money up

7 0
2 years ago
A service contract for a video projection system costs $195 a year. you expect to use the system for four years. instead of buyi
aleksklad [387]

Answer:

The future value of an annuity (FVA) is $828.06

Explanation:

The future value of an annuity (FVA) is the value of payments at a specific date in the future based on the payments being recurring and assuming a discount rate. The future value of an annuity (FVA) is based on regular cash flow. The higher the discount rate, the greater the annuity's future value.

FVA= P * \frac{(1+r)^n-1}{r}

Where:

FVA is The future value of an annuity (FVA)

P is payment per period

n is the number of period

r is the discount rate

Given that:

P = $195

r = 4% = 0.04

n = 4 years

FVA= P * \frac{(1+r)^n-1}{r}

substituting values

FVA= 195 * \frac{(1+0.04)^4-1}{0.04}=195*4.246=828.06\\FVA=824.06

The future value of an annuity (FVA) is $828.06

4 0
3 years ago
Read 2 more answers
Standards for the Code of Ethics for Market Intelligence Professionals includes to manipulate the data as the researcher sees fi
aalyn [17]

Answer:

to provide honest and realistic recommendations and conclusions in the execution of one's duties

to comply with enforced laws,

Explanation:

6 0
3 years ago
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