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Tema [17]
2 years ago
13

A transfer payment is Group of answer choices a payment that is automatically transferred from your bank account to pay a bill o

r some other obligation. a payment for moving expenses a worker receives when he or she is transferred by an employer to a new location. the benefit that a person receives from an expenditure by government minus the taxes that were collected by government to fund that expenditure. a form of government expense that is not made in exchange for a currently produced good or service.
Business
1 answer:
-Dominant- [34]2 years ago
4 0

Answer: a form of government expense that is not made in exchange for a currently produced good or service.

Explanation:

Transfer payment are the goods or services that are supplied to the residents of a country. They're the form of government expense that is given to people in the society and such payments are not made due to the exchange of goods or services.

Examples of transfer payments include unemployment benefits, Social Security, etc. The reason behind transfer payments is to help in the redistribution of income and to help the less privileged in the society.

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Karen Meyer owns and operates Crystal Cleaning Company. Recently, Meyer withdrew $10,000 from Crystal Cleaning, and she contribu
elena-14-01-66 [18.8K]

Answer:

a. Karen Meyer's personal records

c. American red cross

Explanation:

The $6,000 contribution should be recorded in Karen Meyer's personal records because 1) the donation was made on her personal name 2) a donation of such size is relevant when Karen files her taxes.

The contribution should also be recorded in the American red cross records because the organization needs to clarify to the tax authorities where each sum of money it obtains comes from.

6 0
2 years ago
Individuals who provide baby-sitting and lawn-mowing services are<br> viewed by the IRS as?
kati45 [8]

Answer: Household employees, for the babysitting one, occasionally nann(y/ies) or babysitter(s)

Explanation:

6 0
2 years ago
The financial statements of the larson company report net sales of $1,000,000 and accounts receivable of $80,000 and $60,000 at
stepan [7]
<span>To calculate the average collection period: the average accounts receivable balance divided by average credit sales per day. With $1,000,000 per year, that is $2739.73 per day. The average accounts receivable is ($80,000 + $60,000) / 2 = $70,000 $70,000 / $2,739.73 = 25.6 days</span>
4 0
3 years ago
Bramble Company uses the percentage of receivables method for recording bad debt expense. The accounts receivable balance is $59
shusha [124]

Answer and Explanation

Given:

Accounts receivable balance = $598,000

Percentage of receivables that are uncollectible = 5% or 0.05

Uncollectible receivables = 0.05 × 598,000 = $29,900

Adjusting journal entry to record bad debt expense is:

Particulars                                          Debit              Credit

Bad debts expense                            XXXXX

     Allowance for doubtful debts                               XXXXX

(Being bad debts incurred)

Noe, Allowance for doubtful debts has a credit balance of $4,800.

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So adjusting entry :

Particulars                                          Debit              Credit

Bad debts expense                            $25,100

     Allowance for doubtful debts                             $25,100

(Being bad debts incurred)

7 0
3 years ago
Which of the following was not an effect of the Norris LaGuardia Act?
Katena32 [7]
U didn’t put like half the question luv
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