Answer:
Th etotal accounts written off during 11 months is $ 24,677
Explanation:
Computation of amounts written off
The movement in the allowance account is as per the following formula
Opening balance + Bad Debts Expense - Amounts written off = Ending balance
$ 13,177 + $ 21,273 - Amounts written off = $ 9,773
By solving the equation
Amounts written off = $ 13,177 + $ 21,273 - $ 9.773 = $ 24,677
In other words, the bad debts expense for the year plus the movement in the allowance balance represents the amounts written off
Answer:
Option B is correct.
Corporation tax basis in the property received= $1,100
Explanation:
Option B is correct.
Corporation tax basis in the property received is calculated by adding the tristan transfers property with a tax basis of $900 and $200 which is the profit/gain tristan got.
Corporation tax basis in the property received=tristan transfers property with a tax basis + Gain Received
Corporation tax basis in the property received= $900 + $200
Corporation tax basis in the property received= $1,100
Front end load, hope this helped :)
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