Answer:
$6,000
Explanation:
When a company makes sales on account, debit accounts receivable and credit sales. Based on assessment, some or all of the receivables may be uncollectible.
To account for this, debit bad debit expense and credit allowance for doubtful debt. Should the debt become uncollectible (i.e go bad), debit allowance for doubtful debt and credit accounts receivable.
Since the Allowance for Doubtful Accounts has a credit balance of $1,200 before adjustment at December 31, 2016, the additional amount to be allowed
= $7200 - $1200
= $6000
This will be posted as
Debit Bad debt expense $6000
Credit Allowance for doubtful debt $6000
Answer: The answer is D. The price of gasoline rises due to rising oil prices
Explanation: microeconomist study is based on the interaction of individuals or firms in an economy, rather than aggregate economic factors that affect a nation as a whole. Examples are inflation rate, unemployment rates, Per capital income, GDP etc
Answer:
Increasing total sales by targeting more customers
Explanation:
When a company has a product that can satisfy various segments of customers, they will target as many customers as possible.
This will increase the number of sales that the company makes and in turn will increase revenue.
Targeting a wider customer base is the strategy being used by In-N-Out Burger. They decided to target both the college student community and the artisan build-your-own burger segment.
This startegy can however be more expensive if different advertisements are required to target different segments. Promotion expense will increase.
Answer:
a. $58,000
b. $6,752
c. $9,000
Explanation:
a. The computation of taxable income is shown below:-
Taxable income = Salary - Short term capital loss + Cash Prize - Greater of Standard or itemized deduction for year 2018 (assumed)
= $80,000 - $2,000 + $4,000 - $24,000
= $58,000
b. The computation of tax liability is shown below:-
Tax liability (Surviving spouse) = ($1,940) + ($58,000 - $19,400) × 12%
= $1,940 + $38,600 × 12%
= $1,940 + $4,632
= $6,572
c. The calculation of Charlotte's child and dependent tax credit is given below:-
= ($2,000 × 4) + ($500 × 2)
= $8,000 + $1,000
= $9,000
Answer:
The right answer is, False.
Explanation:
Nowadays companies seek to improve the attitudes, knowledge and skills of their employees, through training activities so that everyone works synergistically in achieving the objectives of organizations.
