Answer:
The amount of uncollectible accounts expense that will be recognized on the Year 1 income statement is $1,620.
Explanation:
To arrive at the amount of uncollectible accounts expense that will be recognized on the Year 1 income statement, we simply need to calculate 3% of the company's sales on account balance, as follows:
3% of ($190,000 - $136,000) = $1,620
So, $1,620 would be the bad debt expense that will be recorded in Year 1 income statement, since there is no opening balance of sales on account and allowance for doubtful accounts.
Also, note that the collection on account during the year would reduce the sales on account balance, as shown above.
<span>Start with $2,000 in taxes owed subtract $775 for prepayments to get $1,225 in taxes still owed. Subtract another $2,000 for the child tax credit, resulting in a negative liability of $775. This equates a tax refund of $775.</span>
Answer:
they should sell 16 pizzas
Explanation:
Total expense money : 9.57+168+62 =239.57
239.57 / 14.57 = 16.44 ≈ 16.4 and if we round up the decimal side the answer will be 16. Therefore the restaurant has to sell 16 pizzas
Hope i helped in some way!
Answer:
Market sell order for 1,500 shares
Explanation:
The type of order that Marcos should place is Market sell order for 1,500 shares because he already owns 1,500 shares of the ABC stock in which the ABC stock shares was purchased at $44 per share.
Since the stock has been decreasing in value in which he wants to cut his losses now because the stock price may continue to decrease, the best thing for him to do is to use the Market sell order for the 1,500 shares in order to cut the losses that may arise and to avoid losing all the Total amount of the shares bought which is $66,000 ( 1,500 shares ×$44).
