Answer:
correct option is B. $4,000
Explanation:
given data
Net credit sales = $100,000
management estimates = 4%
solution
we know here Net credit sales is = 100000
so bad debts expenses will be
debts expenses = 100000 × 4%
debts expenses = $4000
so amount of expense to report on the income statement will be $4000
and after adjustments = will be $4000 + $3000 = $7,000
so correct option is B. $4,000
Answer:
$213,500.
Explanation:
Retained earnings balance at the beginning of the year $ 166,000
- Cash dividends declared for the year 52,000
+ Net income for the year 99,500
Answer:
(C) A decrease in the balance of retained earnings.
The cost of treasury stock is subtracted from retained earnings, reducing amounts the company can distribute to stockholders as dividends.
Explanation:
Retained earnings is the cumulative total of earnings that have yet to be paid to shareholders. Retained earnings are affected by any increases or decreases in net income and dividends paid t share holders.
Answer:
Regressive tax
Explanation:
Regressive tax is a form of tax that taxes lower and middle income individuals a higher rate than high income individuals.
Progressive tax is a form of tax that taxes high income individuals a higher rate when compared to low and middle income individuals.
Proportional tax is a type of tax where the same tax is paid irrespective of level of income.
I hope my answer helps you