Discuss Ideas of how to improve her preformance and her daily life.
Answer:
C. $40,000
Explanation:
For computing the amount of the gain recognized, first we have to calculate the gain recognized based on the adjusted basis
= Cash received + fair market value of the stock - adjusted cash basis
= $40,000 + $60,000 - $35,000
= $100,000 -$35,000
= $65,000
But the cash is received for $40,000. So, only $40,000 of gain would be recognized. As in the case of transfer, if the amount is received other than the stock so the amount which is received is recognized as a gain i.e $40,000
Answer
The answer and procedures of the exercise are attached in the following archives.
Explanation
You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.
Answer:
The answer is A.
Explanation:
Closing/Ending balance in Allowance for Doubtful Accounts = Unadjusted credit (debit) balance in Allowance for Doubtful Accounts + Bad Debt Expense
To get Bad Debt Expense, we re-write the formula:.
Closing/Ending balance in Allowance for Doubtful Accounts − Unadjusted ending credit (debit) balance in Allowance for Doubtful Accounts
Ending/Closing method balance in allowance for doubtful debt= $5,000
Unadjusted ending credit (debit) balance in Allowance for Doubtful Accounts =$500
So we have:
= $5,000 − $500
= $4,500