Answer:
At the end of period the allowance for uncollectible debts will be: 15000-3000 = $ 12000 because 3000 account receivable is written off.
Explanation:
(Opening) Allowance for uncollectible accounts = 3000 (Dr)
During the year company estimates = $ 15000
Entry : Dr Bad debts expense 15000
Cr Allowance for bad debts 15000
( To record uncollectible accounts)
Based on the value of Baldwin Corp's existing inventory, the dollars of additional revenue that would have been earned is $19,923,000.
<h3>What amount of dollars of additional revenue would Baldwin have earned?</h3>
The dollars of additional revenue that a company would have earned is the value of the existing inventory because inventory is assumed to be sold at cost.
Baldwin's existing inventory was valued at $19,923,000 so the dollars of additional revenue would be the same amount of $19,923,000.
Full question is:
Baldwin corp. ended the year carrying the most inventory of $19,923,000. calculate Baldwin corp.'s dollars of additional revenue (in dollars) if all existing inventory were sold at the current prices.
Find out more on the effects of existing inventory at brainly.com/question/24868116.
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Answer:
True.
Explanation:
Preparer penalties are sanctions imposed by the internal revenue code on tax professional who are found negligent in discharging their professional duties in tax matters. These sanctions range from financial fines to imprisonment. And Internal Revenue Code has relevant sections for each category of negligence. Normally, it is the staff personnel that has the highest exposure to the risk of being negligent and tax professionals will put in place adequate measures to reduce this exposure to preparer penalties. One of such measures that are employed to reduce the chances of staff personnel incurring IRS preparer penalties is tone at the top approach. This approach is used by management to establish the ethical value of the firm. It set up the environment in which management relay their commitment to upholding ethical values, such as integrity, diligence and objectivity.
This established tone will serve as guiding map to the staff personnel who are expected to follow the guideline in discharge of their duties. And in turn, this regulated behavior of staff personnel and demonstrated commitment of management to upholding ethical values will help to reduce the chances of staff personnel incurring IRS preparer penalties because of the presence of atmosphere of integrity and diligence in the organisation. So the answer is true.
A service plate or a charger plate.
