Answer:
d. A debit to Allowance for Uncollectible accounts and a credit to accounts receivable
Explanation:
In an entity using the allowance method all write offs of receivables are routed through the allowance account.
The allowance account is credited with the estimated amount of uncollectible accounts and the bad debts expense account is debited.
When an account receivable is written off it is debited to the allowance for uncollectible accounts is debited and receivable accounts is credited.
Answer:
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there
Explanation:
The aggregate difference between the average total cost (ATC) and average variable cost (AVC) for all units of production is the total fixed cost.
Total fixed cost is the total amount of money a company must pay to keep its operations running, regardless of how many products it produces or sells. The total fixed cost remains constant regardless of production or lack thereof. Fixed costs are those that persist even when output is zero. Many of these expenses are referred to as overhead.
Total fixed costs are the sum of all a company's consistent, non-variable expenses. Assume a company pays $10,000 per month for office space, $5,000 per month for machinery, and $1,000 per month for utilities. In this case, the total fixed costs for the company would be $16,000.
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The purpose of centralized databases is to ensure consistent data. Therefore, users are restricted to using a pre-agreed upon system to access the data and make changes. No one can simply access the data themselves,
Answer:
Sharrod's deductible loss = stock basis + long term capital gains - cash distribution = $140,000 + $21,000 - $84,000 = $77,000
Sharrod's suspended loss = share of ordinary loss - deductible loss = $84,700 - $77,000 = $7,700
Sharrod's new basis in Kaiwan stock = $0
Explanation:
Sharrod's loss cannot be greater than his basis, that is why only $77,000 can be deducted and $7,700 can be carried forward.
