Answer:
A Journal was prepared for the receivable bad debt of a customer that owned stone bridge Electronics which us shown below
Explanation:
Solution
The first step to take in this case is to Nationalize the transaction to be recorded for the month of July 15, 2016.
A JOURNAL ENTRY FOR RECEIVABLE BAD DEBT OF $325
Particulars Debit Credit
July 15, 2016 Cash Account $325
To Bad Debt Expense $325
Note: The cash and bad debt expense are both recorded on credit and debit side of the Journal
Answer: $600,000
Explanation:
The amount of the goodwill related to the acquisition will be calculated thus:
Acquisition price = $2,000,000
The net assets will be:
= Assets + Copyrights - Liabilities
= $1,500,000 + $150,000 - $250,000
= 1,400,000
Goodwill will then be calculated as:
= acquisition price - net assets
= $2000000 - $1400000
= $600,000
Answer:
B) $5,000
Explanation:
Under Section 1014 (a) the basis of any property acquired by a decedent (Lynn) through a gift within 1 year of death and passed back to the donor (Edwin) due to the decedent's death, will be adjusted to the basis immediately prior to the death.
In other words, since Lynn died within 1 year of receiving Edwin's gift, Edwin's basis will be the same as Lynn's basis.
Answer:
Is the percent of every sales dollar that is still when deducting total unit variable price.
This ratio indicates the proportion of every sales dollar that's accessible to hide a company's fastened expenses and profit. The ratio is determined by isolating the commitment edge (deals less all factor costs) by deals.
