Since the company is using the percentage of receivable
method in computing the allowance for doubtful account, the amount that will be
computed will be the ending balance of the allowance for doubtful account and
not the doubtful account expense itself. To compute for the allowance for
doubtful account using this method, you need to multiply the ending balance of
the accounts receivable with the given percentage. Therefore, the ending
allowance for doubtful accounts would be $15,000 ($150,000 x 10%).
To compute the amount of adjustment to the allowance for
doubtful accounts, we can come up with an equation:
Beginning balance ($16,000) + X (adjustment) – allowance written
off ($29,000) = Ending balance ($15,000)
Computing the equation, you can get the amount of $28,000
which is the adjustment of allowance for doubtful accounts or simply said, this
is the doubtful accounts expense for the year.
Answer:
Both
Explanation:
To expand benefits, a monopolist will enlist labourers up to the point where the minor expense of work rises to their work request. This outcomes in a lower level of work than a focused work market would give, yet in addition a lower balance wage. Low unemployment rate will lead to low sales and productivity.
54 is the smallest number that can be written as the sum of 3 squares in 3 ways. 55 is the largest .... 171 has the same number of digits in Roman numerals as its cube. ... 223 is the smallest prime p which has more primitive roots below p/2 than above p/2. .... 302 is the number of ways to play the first 3 moves in Checkers
Answer: See explanation
Explanation:
a. What is Laurel’s initial tax basis in her LLC interest?
This will be the addition of the $250,000 basis for the equipment, accounts payable of $15,000 and also the $15,000 (15% × $100,000). This will be:
= $250,000 + $15,000 + $15,000
= $280,000
b. True.
Laurel’s holding period in the partnership interest begins the day the LLC interest is acquired. This is due to the fact that the asset contributed isn't a section 1232 asset. The reason for this is due to the fact that the asset was used for a year or less.
c. Sand Creek’s initial basis in the contributed property is $250,000.
d. Ten months.
Sand Creek’s holding period in the contributed property will be 10 months.
Answer:
more wealthy, so the quantity of goods and services demanded rises.
Explanation:
If price level falls, the same basket of goods and services purchased by consumers would cost less. Consumers feel more wealthy and the quantity demanded of goods and services increases .
For example, if I spend $100 on clothes and the price of clothes falls to $50, I would buy clothes for $50 and still have extra $50. I can use the $50 to buy more clothes.
I hope my answer helps you.
