16. The selling of goods and/or services to a customer is called

January 28 Write off accounts receivable as uncollectible, $4,800. January 30 Firework sales for the second half of the month to

Sophie [7]

Answer:

28 January

Dr Allowance for doubtfull debts 4,800

Cr Account Receivables 4,800

(to record write-off of Account Receivables)

30 January

Dr Cash 11,000

Dr Account Receivables 132,000

Cr Sales 143,000

(to record sales revenues)

Dr Cost of Good Sold 79,500

Cr Inventories 79,500

(to record the cost of good sold of $143,000 sales revenue)

31 January

Dr Salary Expenses 52,000

Cr Cash 52,000

(to record the cash payment of salary expenses)

Explanation:

Explanations are given in each entry.

6 0

3 years ago

Kaiwan, Inc., a calendar year S corporation, is partly owned by Sharrod, whose beginning stock basis is $107,500. During the yea

Anton [14]

Answer: a)$59,125 (loss)

b) $5,913 (loss)

c) $0

Explanation:

a. In calculating Sharrod's deductible loss, we can use the following formula,

= Beginning Stock + Long Term Capital Gain - Cash distribution

Calculated that would be,

= 107,500 + 16,125 - 64,500

= $59,125

Sharrod's deductible loss is $59,125

b. For Sharrod's suspended loss, the formula we will use is like in a but with an added subtraction.

= Beginning Stock + Long Term Capital Gain - Cash distribution - ordinary loss

= 107,500 + 16,125 - 64,500 - 65,038

= -$5,913

Sharrod's suspended loss is therefore $5,913

c) Sharrod's new basis is now therefore 0.

If you need any more information, do comment. Cheers.

8 0

4 years ago

Which of the following is a duty of a personal finance manager?

Eva8 [605]

Answer:

Filling rax return is a duty of a personal finance manager

4 0

3 years ago

Classical management theory and human relations methods contrast significantly with each other in what ways? 1. Classical theori

Mamont248 [21]

Answer:

1. Classical theories were the earliest theories developed in time, while human relations theories developed later as a reaction to the classical management.

Explanation:

Classical management theory and human relations theories contrast greatly. It can be said that classical theories were the earliest ones developed, while much of the human relations theories developed later as a reaction to them.

Classical theories align with McGregor's Theory X and also in some top-do with-downs. They feature strict division of labor into different categories, including levels of management. Planning and communication are done in a "top down" fashion, meaning that information flows from top management downward.

8 0

3 years ago

Read 2 more answers

Jonathan, who has a Bay Area sailing excursion business, notices that his text ads show below a competitor’s in search results w

Iteru [2.4K]

Answer:

The correct answer is d) Target outranking share

Explanation:

Target Outranking Share allows you to select another advertiser’s domain that you want to outrank in ad position and the frequency that you want it. Target Outranking Share is only available as a portfolio bid strategy.

5 0

3 years ago