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
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.

You might be interested in
How can Jude, a high-end automobile dealer, decide whether to grant one of his potential customers credit?
morpeh [17]

Answer:

B.check with a credit and information management company

5 0
3 years ago
Accourding to the quantity theory of money all countries with the same average annual rates of inlfation must also have the same
xz_007 [3.2K]

True According to the quantity theory of money, if the amount of money in an economy doubles, all else equal, price levels will also double.

Definition: The quantity theory of money states that the money supply and price level in an economy are directly related to each other. When the money supply changes, the price level changes proportionally, and vice versa.

The quantity theory of money states that the price level multiplied by real output is equal to the money supply multiplied by the speed or rotation of the money supply. Speed ​​is generally stable.

Learn more about annual rates at

brainly.com/question/25793394

#SPJ4

4 0
2 years ago
Under a contractionary taxation policy, the government can reduce the deficit by
AlexFokin [52]

Answer:

c

Explanation:

not sure but I tried may best tho

7 0
3 years ago
Read 2 more answers
If you needed financial advice, whom would you ask? Why?
kap26 [50]

Answer: financial advisors

Explanation: A financial advisor can help you create a long-term investing strategy, weigh the pros and cons of different account types, pick mutual funds, rebalance your investing portfolio, and set savings benchmarks to help you reach your long-term goals.

Hope this helped

6 0
3 years ago
Which of the following personal property items has the HIGHEST specific limitation on coverage?
Charra [1.4K]

The personal property items that have the HIGHEST specific limitation on coverage are jewelry, watches, and precious stones or metals because they are saved in a location, especially in banks

<h3 /><h3>The properties having HIGHEST specific limitation on coverage.</h3>

A limit is the highest amount your insurer will pay for a claim that your insurance policy covers.

Some of these specific limits apply to a building or personal property at a single location.

From the listed option, the personal property items that have the HIGHEST specific limitation on coverage are jewelry, watches, and precious stones or metals because they are saved in a location, especially in banks

Learn more on specific limitations on coverage here: brainly.com/question/27015627

8 0
2 years ago
Other questions:
  • New Products pays no dividend at the present time. Starting in Year 3, the firm will pay a $0.25 dividend per share for two year
    10·1 answer
  • If the Ford Focus is the cost​ object, classify each of the following costs as indirect or​ direct, respectively: property taxes
    15·1 answer
  • Marcus is on a team to plan volunteer opportunities for employees in the company. His role is to handle public communications ab
    15·1 answer
  • Katrina receives an offer to buy a box of candy through the mail each month. The letter says that she will begin receiving candy
    8·1 answer
  • Ron,a new associate at Barkley and Sons,is working to cultivate personal relationships with individuals outside of his departmen
    9·1 answer
  • The flow of information and ideas from one person to another involving a sender method of transmitting the idea or content and r
    7·1 answer
  • Pick an Agile Manifesto principle that you think is likely to have the biggest impact on the success or failure of a typical pro
    13·1 answer
  • On January 1, 2021, Everglade Company purchased the following debt securities and properly accounted for them as securities avai
    14·1 answer
  • ________ models assist top-level managers in long-range planning, such as stating company objectives or planning plant locations
    7·1 answer
  • Management moving production or other parts of the company's value chain to countries where wages are lower is an example of ___
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!