It is A. i think...........
Answer:1. The higher before tax real gain is for Steve for $2000 i.e (32,000- 30,000) while Stephanie makes $1800(6% of $30,000)
2. The higher after tax real gain is for Stephanie losing 35% of her income
which reduce her income to $1170 while Steve loss 50% of his income which reduce to $1000.
Explanation
The inflation rate is not considered in the calculation because it's constant for both parties.
Answer:
the Opening retained earning balance is $413,640
Explanation:
The computation of the retained earnings have been on December 31, 2016 is shown below:
As we know that
Ending retained earning balance = Opening retained earning balance + net income - dividend paid
$490,953 = Opening retained earning balance + $135,075 - $57,762
$490,953 = Opening retained earning balance + $77,313
So, the Opening retained earning balance is $413,640
Sarah can best be labeled as living in <u>"relative"</u> poverty.
Relative poverty is the condition in which individuals do not have the base measure of salary required with a specific end goal to keep up the normal way of life in the general public in which they live. Relative neediness is viewed as the least demanding approach to quantify the level of destitution in an individual nation. Relative destitution is characterized with respect to the individuals from a general public and, in this manner, varies crosswise over nations. Individuals are said to be devastated on the off chance that they can't stay aware of the way of life as dictated by society.
Answer:
a. Bad Debt Expense 5100 Allowance for Doubtful Accounts 5100
Explanation:
The adjusting entry is shown below:
Bad debt expense $5,100
To Allowance for doubtful debts $5,100
(Being the bad debt expense is recorded)
The computation is shown below:
= Account receivable × estimated percentage - credit balance of allowance for doubtful debts
= $170,000 × 5% - $3,400
= $8,500 - $3,400
= $5,100
In order to recording this transaction, we debited the bad debt expense as it increases the expenses account whereas at the same time it reduces the account receivable therefore the allowance for doubtful debts is credited
