Answer:
$4,260
Explanation:
The journal entry to record the adjustment to the allowance account includes a debit to Bad Debts Expense is given below:
Estimated Uncollectible Accounts is
= $104,000 × 5%
= $5,200
Now
Bad debt expense is
= Estimated Uncollectible accounts - credit balance in Allowance account
= $5,200 - $940
= $4,260
Answer:
C. a possible solution for the problem that the memo describes
Answer:
b. $50
Explanation:
Vittorla's Furniture Bazaar Accounts Receivable
Aging Summary As of June 30, 2015
Customer Current/1-30 Days/31-60 Days/61-90 Days/>90 Days
Total B&B Café $750
Eckhardt Design $1,000
Halifax Sporting $500
Walker Studios $1,500
Late Fee Interest Policy
Age Interest
Current 0% x ($750 + $1,500) = $0
1-30 Days 0% x $500 = $0
31-60 Days 5% x $1,000 = $50
61-90 Days 10%
>90 Days 20%
total interest charged = $0 + $0 + $50 = $50
Answer:
The correct answer are letters "A", "B", and "C": To de-emphasize negative news; To emphasize an action instead of the recipient of an action; To conceal the doer of an action.
Explanation:
Passive voice is used in sentences to place attention on the object, not in the subject of the statement. In <em>Business</em>, passive voice is used with marketing purposes when the doer of an action is unknown, when the doer is intended to remain hidden to put emphasis only in the action or when negative news is to be provided giving them less importance.
Answer:
Cheryl's tax penalty on her HSA distribution is:
$2,000.
Explanation:
a) Data and Calculations:
Retirement age = 55
Taxable distribution from HSA received = $10,000
Tax penalty on HSA distribution = 20%
= $10,000 * 20% = $2,000
b) A tax penalty on HSA distribution of 20% is imposed if the distribution is not a qualified medical expense. This penalty applies since Cheryl is under 65 years of age. Note that if Cheryl's withdrawals are for qualified medical expenses, they are tax-free.
