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3 years ago

10

Connie has AGI of $90,000 and owns rental property generating a $27,000 loss. She actively manages the property. Her deductible

loss is

1 answer:

Sedbober [7]3 years ago

8 0

Answer and Explanation:

Her deductible loss is $27,000.

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Based on the circular flow of business, what are two ways that households impact the economy? A) They provide wages and products

bonufazy [111]

Answer:

D. They provide the four factors of production and spend money on the product market.

Explanation:

In circular flow of business, all the players namely; household, government agencies, firms and others in an economy have an important role to play.

The level of a nation's employment status, price level and income are determined as a result of various interactions among firms/businesses, household and government agencies.

When a unit spends money, it becomes the income of another unit. Household goes to market with their monies to buy goods and services, while firms goes to the factor market to buy the resources, which are owned by the household, to produce the goods and services.

As for the government agencies, they collect taxes on the goods and services produced and on income(both household and firms) . Government also buys goods and services inorder to produce specialize goods.

Through these interactions, money and business changes hands from the household to the firm and then to government. It goes back to the household and the list goes on and on.

7 0

3 years ago

Sheffield Corp. has 285,000 shares of $8 par value common stock outstanding. It declares a 13% stock dividend on December 1 when

astra-53 [7]

Answer:

285,000 common stock outstanding with a $8 par value

it declares 13% stock dividend

market price at $16

since the stock dividend is considered small (less than 20%), we use the market price to record it

December 1, 202x stock dividends are declared (37,050 stocks)

Dr Retained earnings 592,800

Cr Common stock dividends distributable 296,400

Cr Additional paid in capital 296,400

December 31, 202x, distribution of stock dividends

Dr Common stock dividends distributable 296,400

Cr Common stock 296,400

3 0

4 years ago

Choose a company you frequently buy from.

victus00 [196]

Nikes target market or consumers are athletic individuals. They use the marketing mix that involves athletic products made for professional athletes but can be used for leisurely activities making it more accessible to the general population. Their commercials display fit models wearing Nike brand athletic shoes, clothing, and or using Nike equipment. The company also invests in research to improve product effectiveness and customer satisfaction.

6 0

2 years ago

Johnson Company uses the allowance method to account for uncollectible accounts receivable. Bad debt expense is established as a

MArishka [77]

Answer:

1. The Bad debt expense for 2013 is $67,500

2. The amount of accounts receivable written off during 2013 is $69,500

3. If the company uses the direct write-off method, the bad debt expense for 2013 would be $69,500

Explanation:

1. In order toCalculate the bad debt expense for 2013 we would have to make the following calculation:

Bad debt expense=1.5% of Net Credit Sales

=1.5%×$4,500,000

=$67,500

The Bad debt expense for 2013 is $67,500

2. In order to Determine the amount of accounts receivable written off during 2013 we would have to make the following calculation:

amount of accounts receivable written off=$42,000+$67,500-$40,000

amount of accounts receivable written off=$69,500

The amount of accounts receivable written off during 2013 is $69,500

3. Using direct write off method, the bad debt expense is recognized only when the actual bad debt is incurred. The actual bad expense would be the amount of accounts receivable written off during the year. Accounts receivable written off during the year would be same in both the methods.

Thus, the bad debt expense for the year 2013 would be $69,500.

4 0

4 years ago

he condensed balance sheet and income statement for Marjoram Company are presented below. MARJORAM COMPANY Balance Sheet At Dece

Juliette [100K]

Answer:

current ratio for MARJORAM = Current asset / current liabilities

= $173,000/ $108,400

= 1.59

Explanation:

step 1 :calculate the total current asset of the company which is calculated below.

current asset

Cash $19,000

Note Receivable 35,000

Account Receivable 48,400

Inventory <u> 70,600</u>

Total <u> 173,000</u>

Note receivable is included in the current asset because its due date is less than 12 months.

step 2 : divide the current asset by the current liabilites in order to determine the current ratio

7 0

3 years ago