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3 years ago

14

On August 1, Harris Co. determines that it cannot collect $200 from its customer, L. Dash. Harris Co. uses the direct write-off

method, so they will record the write-off of this account by debiting:

1 answer:

finlep [7]3 years ago

7 0

Answer:Bad Debt Expense

Explanation:

Accounts receivable would be credited under the allowance method

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The answer is D) mixed

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Which of the following leader types practices status quo?

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Answer:

C. transactional

Explanation:

In business, maintaining status quo means maintaining the pre-existing structure and culture that exist in the company. Transactional leaders tend to be less innovative , but very strict in enforcing pre-existing rules / conducts.

In order to maintain this status quo, transactional leaders tend to use rewards and punishment.

If an employee is following the company's requirement, that employee will be given rewards (such as bonuses or promotion). If the employee violate the company's rule, that employee will be punished (such as salary cut or firing)

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Marc and Michelle are married and earned salaries this year of $64,000 and $12,000, respectively. In addition to their salaries,

Firdavs [7]

<u>The total amount of deductions Marc and Michelle are going to get is $24750. </u>

<u>The taxable income of Marc and Michelle is $47750. </u>

Further Explanation:

Income Tax: It is the additional charge on an individual’s income which he/she needs to pay to the government. The taxable income is calculated by adding all the incomes and deducting all the deductions which an individual can claim on his/her income.

Compute the total amount of deductions available for Marc and Michelle:

Total Deduction Available

= Higher of Standard Deduction for MJF and Itemized Deduction + Personal and Dependency Exemptions

= Higher of $12600 and $6000 + $12150 ($4050×3)

= $12600 + $12150

=$24750.

<u>Therefore, the total deductions available to Marc and Michelle are $24750. </u>

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Gross Income of Marc and Michelle

= Salary of Marc + Salary of Michelle + Interest Earned on Corporate Bonds

= $64000 + $12000 + 500

= $76500.

Total Taxable Income of Marc and Michelle

= Gross Income – Qualified Moving Expenses – Alimony Paid – Total Deductions

= $76500 - $2500 - $1500 - $$24750

= $47750.

<u>Therefore, the total taxable income of Marc and Michelle is $47750. </u>

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Learn More:

1. Learn more about the tax on the profit from selling the fixed assets

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2. Learn more about the personal tax

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3. Learn more about the role of money

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Answer details:

Grade: Senior School

Subject: Taxation

Chapter: Income Tax

Keywords: Taxable income, Marc and Michelle, Deductions, salary income, earned, corporate bond interest, interest on municipal bond, standard deductions, US tax brackets.

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3. Identifying the Problem, Defining the Purpose, and Collecting Data Business reports require planning. Before you begin writin

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The first step to show the problem the report focuses on is writing a clear problem statement. On the other hand, the most common sources for informal reports include observations, electronic sources, and printed materials.

In companies, the purpose of most reports is to describe or a process in a detailed way. In the case of reports that focus on problems, these reports aim at explaining through accurate data a problem or issue in the company.

One of the first elements in these reports is a clear problem statement, this means the problem the reports explain is summarized in a short but clear and accurate statement. This statement is usually one of the first elements in the report because it helps the writer know what the report is about.

On the other hand, reports need to illustrate and explain the problem based on realistic and accurate data. Because of this to write a report sources such as articles, observations, printed documents, etc.

In the case of informal reports the most common sources are:

Observations: Information you obtain by monitoring a process or phenomenon.
Electronic sources: Information related to the problem found on the internet or in electronic records.
Printed materials: Documents such as letters, reports, etc. that provide information about the problem.

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In addition to the positive welfare effects that free trade has on an economy, there are a variety of other benefits of internat

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Answer:

c. An enhanced flow of ideas

Explanation:

Enhanced flow of ideas often lead to innovation, which would eventually lead to various creations that increase the production efficiency.

When conducting free trades, people from less-industrialized country can learn from conducting business with people from a more industrialized country. For example, they can learn the type of machines used for production,the marketing method that is used to reach customers, the most efficient way to distribute your product, etc.

After learning all this, the people form less industrialized nation could implement the knowledge in the home country. This is one way they can improve their economy and strengthen their position in on the international level.

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