Answer and Explanation:
The Journal entry is shown below:-
Bad debts expense Dr, $2,000
To Accounts receivable-Hopkins $2,000
(Being write off is recorded)
Here we debited the bad debt expenses as it increased the expenses and we credited the accounts receivable as it reduced the assets so that the proper posting could be done
Answer:
I think the answer is an increase in supply
C Leon opens I did it and it’s was C
Answer:
b. If Kurstie's itemized deductions exceeded the standard deduction by $200, then $200 of the refund is included in gross income.
Explanation:
Based on the information given we were told that the amount of $3,000 of the state income taxes paid as part of her itemized deductions was deducted Which therefore means that the statements regarding the taxability of Kurstie's refund that is true will be : IF THE ITEMIZED DEDUCTIONS EXCEEDED THE STANDARD DEDUCTION BY $200 the amount of $200 OF THE REFUND will have to be included in the GROSS INCOME .
When preferred stock is cumulative, preferred dividends not declared in a period are considered a liability called "dividends in arrears".
<h3>What are preferred stocks?</h3>
A word "stock" refers to a company's ownership or equity. Common stock & preferred stock are the two types of equity. Preferred investors are entitled to more dividends or asset distributions than common stockholders. The specifics of the each preferred stock vary depending on the issue.
Some key features regarding the preferred stocks are-
- Preferred stockholders have such a greater right to distributions (such as dividends) then common stockholders.
- In corporate governance, preferred stockholders typically have no or limited voting rights.
- In the case of a liquidation, preference shareholders have a stronger claim on assets than ordinary shareholders but a lower claim than bondholders.
- Preferred stock includes qualities of both bonds & common stock, making it more appealing to some investors.
To know more about the preferred stocks, here
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