User Account

All Pages

What is Marshas current year bad debt expenses deduction

Assignment Help Accounting Basics
Reference no: EM132488443

Question - Marsha is married and owns her own business. She uses the cash receipts and disbursements method for tax purposes.

During the current year her income, expenses, and other items were as follows:

Gross receipts $40000,

Cost of goods sold $24000,

General expenses $14000,

Uncollectible accounts receivable $6000.

Required - What is Marshas current year bad debt expenses deduction of tax purposes?

Reference no: EM132488443

Questions Cloud

How old are today : How old are you today? On your ninth birthday, you received $7,500 which you invested at 12.0 percent interest, compounded annually.
Compute the value of the stock with the required return : Financial analysis believe the stock will be at their price target of $95 in two years. Compute the value of the stock with the required return of 12.4%
What are the monopolist profits : Now suppose the government tries to regulate the monopolist and forces him to set p = MC. How much profit is the monopolist making at this point?
Make general journal entry required to record the events : Use this information to make the General Journal entries (without explanation) required to record the events for December 31, 2019.
What is Marshas current year bad debt expenses deduction : Gross receipts $40000, and Uncollectible accounts receivable $6000. What is Marshas current year bad debt expenses deduction of tax purposes
What is the amount of depletion that should be recorded : Frederick extracted and sold 125,000 tons of ore. What is the amount of depletion that should be recorded? Round total to the nearest whole dollar
Calculate the amount of income taxes payable : The balance sheet for Brexit Corp. provided the following summarized pretax data: Year 2018 - $548,000. Calculate the amount of income taxes payable
What is total value assigned to the new piece of equipment : The new piece of equipment is expected to have a 10 year life and a salvage value of $15,000. What is the total value assigned to the new piece of equipment?
What is the average product of the first three workers : Suppose that one worker can produce 15 cookies, two workers can produce 35 cookies together, and three workers can produce 60 cookies together.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd