Answer:
1. The Journal entry is shown below:-
2. $11,400
3. $558,600
Explanation:
The Journal Entry is shown below:-
Bad debt expense = (Accounts receivable ending balance × Percentage estimated as uncollectible) + Existing debit balance in allowance for doubtful accounts
= $570,000 × 2% + 5,500
= $11,400 + 5,500
= $16,900
Bad debt expense Dr, $16,900
To Allowance for doubtful accounts $16,900
(Being bad debt expense is recorded)
2. The ending balance in Allowance for doubtful accounts = Accounts receivable ending balance × Percentage estimated as uncollectible
= 570,000 × 2%
= $11,400
3. Cash net realized value = Account receivable - The ending balance in Allowance for doubtful accounts
= $570,000 - $11,400
= $558,600
Answer:
Carter's may claim ThREE dependents
Explanation:
Based on the information given the number of dependent Carter's may claim is THREE .
The first dependent that Carter's may claim is their daughter which is Pamela who is 25 years old because they provide more than half of support for her.
The second dependent that Carter's may claim is Evan's grandmother (Belinda) who is 85 years old and who lives in a nursing home reason been that they furnish all of her support.
The Third dependent that Carter's may is Peggy who is 64 years who lives with them.
Therefore Carter's may claim the dependency exemption for all the three people they supported which will in turn lead to reduction in their taxable income thereby enabling them to pay income tax amount that is lesser.
Answer:
a fired
b quit
Explanation:
involuntary is not by choice
voluntary is by choice
Answer:
d. $119.32
Explanation:
The computation of the total of leiff online purchase is shown below:
= Video game price - discount + sales tax + shipping fee
where,
Video game price is $128
The discount = Video game price × discount percentage
= $128 ×15%
= $19.2
The sales tax = (Video game price - discount) × sales tax rate
= ($128 - $19.2) ×5.3%
= $5.77
And, the shipping fee is $4.75
Now put these values to the above formula
So, the value would equal to
= $128 - $19.2 + $5.77 + $4.75
= $119.32
Answer: Option C
Explanation: In simple words, compound interest refers to the interest that includes previously earned and deposited interest in calculating present interest amount along with the principal value.
In the given case, Rosie and Andy both deposited the same amount of principal with same interest rate. Thus, both will earn the same interest in initial year. However, Rosie withdrawal will not give her interest that she could have earned on the first interest amount.
Hence, from the above we can conclude that the correct option is C .