Answer:
Correct option is (d)
Explanation:
Capacity refers to the amount of goods that a plant or organization can produce. Maximum capacity refers to the total number of goods produced at maximum efficiency.
In this case, Joe's plant could produce 1,000 items if all conditions are met, which means when the plant is at its highest efficiency. This states the maximum capacity of the plant.
Answer and Explanation:
The Journal entry is shown below:-
a. Bad Debt Expense Dr, $36,800 ($40,000 – $3,200)
To Allowance for Doubtful Accounts $36,800
(Being the bad debt expense is recorded)
For recording this we debited the bad debt expense as it increased the expenses and at the same time it reduced the assets so the allowance for doubtful accounts is credited
b. Bad Debt Expense Dr, $40,730 ($40,000 + $730)
To Allowance for Doubtful Accounts $40,730
For recording this we debited the bad debt expense as it increased the expenses and at the same time it reduced the assets so the allowance for doubtful accounts is credited
Answer:
D. Medical expenses
Explanation:
The California tax law follows the new federal tax provision for the year 2018 for medical expenses. Only part of the medical expenses can be deducted which is allowed as per federal tax law, that is, 7.5% of the adjusted gross income.