Answer:
The answer is A.
Explanation:
a. subtract the balance of Allowance for Doubtful Accounts from Accounts Receivable
, because
the account receivables is an asset account, so must be subtracted the allowance of doubtful receivables, which functions as a regularizing account of the asset.
Option B is not appropriate since it subtracts the expense recognized in the period and not the total forecast
.
and option C and D <em><u>add </u></em>the receivables that are considered doubtful or uncollectible, so it is not appropriate either.
<span>Gross income is:
~ All income in the form of money, property, and services that
is not exempt from tax.
~ Gross receipts from rental property (taxes, repairs, etc., are not
deducted).
~ A partner's share of the gross, not a share of the net, partnership
income.
~ Unemployment compensation and certain scholarships and fellowships.
Tax exempt income, such as certain social security payments, is not
included in gross income. Type of Income Amount Gross Income
------------- ----- ------------
Wages $15000
Interest $3000
Tax-exempt interest $3,000
Dividends $2000
Unemployment compensation $4,000
thus Total $21000</span>
A stepping stone towards a future education is when the student graduates from high school and got his or her diploma. This is the turning point where he or she will start on choosing the path of their careers and start on this careers in the betterment of the country and future education that they will learn as they step high.
Answer:
Dr Income Tax Expense 37,000
Cr Deferred Tax Liability 2325
Cr Income Tax Payable 34,675
Explanation:
Bridgeport Inc Journal entry
Dr Income Tax Expense 37,000
Cr Deferred Tax Liability 2325
Cr Income Tax Payable 34,675
Income Taxes Payable = ($138,700 x 25%)
= $34,675
Deferred Tax Liability
= ($9,300 x 25%)
= $2,325
$144,200 + $3,800 – $9,300
= $138,700