Answer:
The appropriate amount of Bad Debt Expense is $3,345.20.
Explanation:
The appropriate amount of Bad Debt Expense can be calculated as follows:
Bad debt expense = (Percentage of accounts receivable not yet due it will not collect * Accounts receivable not yet due) + (Percentage of receivables up to 30 days past due it will not collect * Amount of receivables up to 30 days past due) + (Parentage of receivables of receivables greater than 30 days past due it will not collect * Amount of receivables greater than 30 days past due) - Allowance for Uncollectible Accounts (credit) ……………………… (1)
Substituting the relevant values into equation (1), we have:
Bad debt expense = (7% * $7,500) + (20% + $2,300) + (46% * $2,000) - $400 = $3,345.20
Therefore, the appropriate amount of Bad Debt Expense is $3,345.20.
Answer:
$760
Explanation:
The tax credit for child and dependent care expenses allows working taxpayers to discount up to 35% of care expenses. The exact percentage that you are allowed to deduct depends on your income:
- if you earn up to $15,000, you can discount 35% of dependent care expenses of up to $3,000 per child.
- the percentage decreases for every $2,000 of income (1% decrease per every $2,000), until your income reaches $43,000 where it remains at 20%.
The Kent's earned $53,000 during the year, so they can claim up to 20% of their children's care expenses = $3,800 x 20% = $760
Answer:
The correct answer is
B) Items that require adjusting entries.
good luck ❤
Based on the amount that Ramirez guaranteed the lessor and the estimated residual value, the amount to be added to the right-of-use asset is $1,434.33.
<h3>What amount should be added to the right-of-use asset?</h3>
This would be the present value of the difference between the guaranteed amount and the estimated residual value.
= 42,300 - 40,200
= $2,100
Present value:
= 2,100 / (1 + 10%)⁴
= 1,434.328
= $1,434.33
In conclusion, the right-of-use asset amount to be added is $1,434.33.
Find out more on present value at brainly.com/question/20813161.
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