_______ is not considered to be a "developing" nation. A. Brazil B. India C. China D. Japan E. Mexico

Rigney Inc. uses the allowance method to estimate uncollectible accounts receivable. The company produced the following aging of

ANEK [815]

Answer:

Total estimated bad debts = $9,400

Explanation:

days outstanding A/c Receivable % estimate

0-30 $77,000 1 $770

31-60 $46,000 4 $1,840

61-90 $39,000 5 $1,950

91-120 $23,000 8 $1,840

over 120 $15,000 20 $3,000

Total 200,000 $9,400

4 0

2 years ago

Read 2 more answers

Bruce is a part-time student (more than half time) enrolled at a qualified postsecondary educational institution. He files as a

Dmitry_Shevchenko [17]

Answer:

The answer is: $2,250

Explanation:

The American Opportunity Tax Credit (AOTC) is a tax credit available for students that are enrolled at a qualified educational institution. The maximum annual credit is $2,250 per student, and it can be used during the first four years of higher education.

4 0

3 years ago

When a company receives an interest-bearing note receivable, it will

matrenka [14]

Answer:

a. debit Notes Receivable for the face value of the note

Explanation:

The note will generate interest over time, but at the moment of receiving the note, it hasn't accrued any interest, so we have to only record for the value of the note today.

Also this note represent the right to claim cash from the person who sign the note, so it is an asset for the company.

Asset increase from debit side, so the Note Receivable will be debited.

3 0

3 years ago

In a $1031 like-kind exchange, Rafael exchanges a business building that originally cost $346,800. On the date of the exchange,

Andreyy89

Answer:

A. $52,020

B. $0

C. $208,080

Explanation:

a. Computation of Rafael's realized gain on the exchange

Using this formula

Realized gain=Fair market value -Adjusted basis

Let plug in the formula

Realized gain= $190,740-$138,720

Realized gain=$52,020

Therefore a. Rafael's realized gain on the exchange is $52,020

b. Based on the information given Rafael's recognized $1031 gain is $0 reason been that

NO BOOT WAS RECEIVED

c. Computation for Rafael's $1245 depreciation recapture Amount

Using this formula

Depreciation recapture Amount=Equipment originally cost -Adjusted basis

Let plug in the formula

Depreciation recapture=$346,800-$138,720

Depreciation recapture=$208,080

Therefore Rafael's $1245 depreciation recapture of $208,080 is carried over to the replacement property

4 0

3 years ago

The country of Trevanvia goes through a period of recession, which leaves a large number of people unemployed due to extensive l

alexira [117]

Answer:

Trough

Explanation:

Trough economic situation is when the recession is hardest and comes after the phase of contraction where growth slows, employment declines (unemployment increases), and pricing pressures subside.

Trough is characterized by large number of people being unemployed due to extensive layoffs by companies in order to cut down their costs and reduce their output during the period of economic decline

7 0

2 years ago