Answer:
A. Using the same format you would use if you were responding in writing
Explanation:
here the answer should be A that is
A. Using the same format you would use if you were responding in writing.
What this means is that, the response should be neutral and catered in a way that we would if we're writing the answer in order to allow a better, more neutral understanding of the process, unless otherwise stated.
After accounting for bad debt expense, the remaining amount in the allowance for doubtful accounts is $7,950.
<h3>
What is bad debt?</h3>
Bad debt, sometimes referred to as uncollectible accounts expense, is a sum of money owed to a creditor that is unlikely to be paid and for which the creditor is not willing to take action to collect for a variety of reasons, frequently due to the debtor not having the money to pay, for example due to a company going into liquidation or insolvency. Depending on accounting practices, regulatory considerations, and the institution provisioning, there are many technical definitions of what a bad debt is. Bank loans in the USA are referred to as "problem loans" if they are more than 90 days overdue. Accounting sources recommend deducting the entire amount of a bad debt from profit and loss or from a provision for bad debts as soon as it is anticipated.
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Answer:
a. Demand will increase.
b. Demand will increase.
c. Demand will increase.
d. Demand will decline.
e. Demand will increase.
Explanation:
a. If small automobiles become more fashionable, people will prefer them more. This will lead to an increase in demand for autos.
b. If there is an increase in the price of large automobiles and the price of the small automobiles remain the same, people will prefer the cheaper substitutes. This will cause the demand for small automobiles to increase.
c. Inferior goods have a negative income effect. SO, when income declines the demand for small autos will increase and vice versa.
d. If consumers expect the price of small autos to fall in the near future, they will hold their money to buy autos when their price fall. This will cause the current demand to fall.
e. When the price of gasoline drops it will become cheaper to use autos. This will lead to an increase in demand for autos.
Answer:
150000
Explanation:
The question says that Harry received a fair market value = 450000 dollars
Meanwhile he transferred 650000 dollars of assets
Fair value of assets = 650000 - 200000 = 450000
Harry's adjusted basis = 350000
Therefore the share received will be:
350,000 - 200,000
= 150,000 dollars.
Harry's basis in the stock received from the corporation is $150,000.
Thank you!
Answer:
Tax Savings = 200
Explanation:
If Ward and June carry the bond, tax would be:
⇒ Interests * tax rate
⇒ 1000 * 32% = 320
They gift bond to their son, Wally, whose tax would be:
⇒ Interests * tax rate
⇒ 1000 * 12% = 120
The tax savings related to the transfer of Bond is:
⇒ 320 - 120 = 200
