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kiruha [24]
2 years ago
12

When the direct write-off method is used, an entry for bad debt expense is required Multiple choice question. when each sale is

made. at the end of the year. only when bad debts are recorded on the tax return. when the account receivable is determined to be uncollectible.
Business
1 answer:
Lapatulllka [165]2 years ago
7 0

Answer:

When the direct write-off method is used, an entry for bad debt expense is required

when the account receivable is determined to be uncollectible.

Explanation:

The direct write-off method requires that immediately an account receivable is deemed uncollectible, the amount is debited to the bad debts expense account with the corresponding credit entry in the accounts receivable account.  The other method is the allowance method.  Unlike the direct write-off method, the allowance method involves the debit entry to made in the Allowance for Uncollectible Accounts.

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Answer and Explanation:

Q2) Calculate the amount that should be reported as net cash flow from operating activities:

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$60 - $40 = $20 (Net Cash flow from operating activities)

Q3) Amount as net income:

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Depreciation ($60)

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Q4)

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The work of Venture Philanthropy Partners in focusing on low-income families would make it a<u> Community Fund </u>

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We can therefore conclude that this is a community fund.

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2 years ago
An individual is attempting to determine if it is necessary to register as an investment advisor due to the nature of some of th
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