If accounts receivable had a debit balance of $10,000 at the beginning of the period, and a debit balance of $6,000 at the end of the period. based on this information, the adjustment to net income for the period will be reported as: a decrease of $4,000 which will be added to net income.
<h3>How to find the
adjustment to net income?</h3>
Using this formula to determine the adjustment to net income
Adjustment to net income = accounts receivable had a debit balance - Beginning debit balance
Where:
Accounts receivable had a debit balance = $10,000
Beginning debt balance = $6,000
Let plug in the formula
Adjustment to net income = $10,000 - $6,000
Adjustment to net income = $4,000
Therefore we can conclude that the adjustment to net income for the period will be reported as a decrease of $4,000 which will be added to net income.
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Answer:
From 2018, there is a threshold limit of $250,000 defined by IRS for single:
(a) Tim has an excess business loss:
= Business loss - Threshold
= $350,000 - $250,000
= $100,000
(b) Tim may use $250,000 of the $350,000 LLC business loss to offset non business income.
The excess business loss is treated as the portion of the Tim's NOL carry forward.
Excess business loss of $100,000 will be treated as the NOL carryforward to subsequent years.
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Answer:
It is better to cleaned and shipped to the firm's outlet center at a cost of $23,000 to be sold at $80,000
Explanation: In alternative A) the firm loss is $80,000 ($125,000-$45,000)
In alternative E) all $125,000 is lost
In alternative B, C and D) the loss is $68,000 ($125,000-$80,000+$23,000)
Relevant costs are those evitable, that are cause of a manager decision related to an specific business decision.
The only cost that can be avoided in these example is the cost of $23,000 so the goods can be cleaned and shipped to the firm's outlet center
Answer:
B. is a democratic leadership
