Answer:
amount of Bad Debt Expense for 2019 = $92,000
Explanation:
A bad debt expense is a uncollectible receivable amount incurred on a credit sale to a customer, who is no longer able to pay the debt, due to bankruptcy or other financial problems. Companies make provision for these kind of credit losses in the allowance for doubtful accounts, and hence records the amount used from the allowance for doubtful accounts as the bad debt expense.
In our example, the allowance for doubtful account for 2019 is $92,000, hence since it was used to settle part of the credit losses, this becomes the bad debt expense.
Answer:
The correct answer is letter "B": labor, capital, and management.
Explanation:
<em>Labor, capital </em>and <em>management</em> are the three variables mostly used to measure productivity. Labor refers to the staff who are responsible for doing all of the physical and mental tasks that keep a company going.
Capital refers to the buildings, machinery, and tools used in the manufacturing process. It also involves talking about intellectual capital, which is the technical expertise that a company acquires over time.
Management is the development factor that connects capital and labor together. Managers incorporate innovation and creativity in using the other factors that help to create a successful company.
Answer:
- Tax liability = $24,222.50
- Marginal rate = 24%
- Average rate = 19.35%
Explanation:
Question requires that we find the Tax liability, Marginal rate and Average rate.
Tax liability:
Chandler is in the $84,200 to $160,725 bracket.
= 14,382.50 + 24% * (125,200 - 84,200)
= 14,382.50 + 9,840
= $24,222.50
Marginal rate = 24%
Chandler's bracket is the 24% bracket.
Average rate:
= Tax/ Taxable income
= 24,222.50 / 125,200
= 19.35%
Answer:
The answer is ' repair costs resulting from damage to the plant asset while it was being unpacked'
Explanation:
The acquisition cost of a plant asset does not include repair costs resulting from damage to the plant asset while it was being unpacked. Why? - Because this doesn't lead to the improvement of the asset.
Acquisition costs comprise the commission paid, legal fees, cost of improving the assets and all necessary cost paid to get the assets running.
It expands the regulatory authority for the Fed over non-depositary financial institutions, such as hedge funds and mortgage brokers, which had previously operated under little regulatory supervision or accountability. The Dodd-Frank Act of 2010 adopted by the Congress has also been in place. They were established to identify emerging risks within the financial sector in order to reinforce risky practices prior to the crisis.
