Answer:
The necessary adjusting entry would include a credit to the allowance account for $40080
Explanation:
Marigold Corp.'s Account Balances
At December 31, 2020
Accounts Receivable $917000 Debit
Allowance for Doubtful Accounts $1920 credit
Bad Debts $42000
Unadjusted Balance of Uncollectibles $ 1920
<u>Estimated Balances $ 42000</u>
<u>Required Adjustment $ 40080</u>
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The data tells that the Allowance for Doubtful Accounts has a credit balance of $1920 the required adjustment to the allowance for doubtful accounts is $ 40080. The required entry is
Bad debts Expense 40,080 Dr.
Allowance for Doubtful Accounts $40,080 credit
Answer:
For all these reasons, I propose we hire three dog walkers and begin offering this service by year's end.
Explanation:
If Khandi says, for all these reasons, I propose we hire three dog walkers and begin offering this service by year's end, this is a call to action that she used at the end of her presentation as an advocacy for Let-Us Ltd to expand its services to include dog walking.
It's tough. Is there an answers key or something
The correct statement is that in the spreadsheet below, a financial plan for protecting assets is missing. So, the correct option is C.
A financial plan for protection of assets is advisable for such individual for better insurance against any unwanted losses or damages to property(s).
<h3>Financial Plan</h3>
A financial plan refers to as the interpretation and conclusion of a cash flow after ascertaining the inflows and outflows of the firm.
The above cash flow statement shows that the spending have not been done on premiums for insurance for protection of assets of the individual.
There seems a requirement for the financial plan to be made in such a way that a part of expenditure outflow is done towards insuring the assets.
Hence, the correct option is C that in the spreadsheet below, a financial plan for protecting assets is missing.
Learn more about Financial Plan here:
brainly.com/question/1323646
Answer:
The amount of taxes that Tim can deduct as an itemized deduction is $7,340
Explanation:
The computation of the itemized deduction is shown below:
= State income tax for the previous year + state income tax from his salary + estimated payments of state income tax
= $1,100 + $5,050 + $1,190
= $7,340
The other item values which are mentioned in the question are not considered and not affect the deductions for current year So, we do not take in the computation part. Hence, ignored it
