Entries by Munene david

 D Trucking uses the accrual method of accounting. Below is a reconciliation of D Trucking’s allowance for bad debts for the current year.

February 17, 2020 in /by

I need help with the following question please help… 1. D Trucking uses the accrual method of accounting. Below is a reconciliation of D Trucking’s allowance for bad debts for the current year. Beginning allowance for bad debts $61,150 Actual write-offs of accounts receivable during the year (80,000) Addition to allowance 88,500 Ending allowance for bad […]

 

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1.Mr. and Mrs. Adam moved from Chicago, IL to Detroit, MI so that Mrs. Adams could accept employment with Ultra Corporation.

February 17, 2020 in /by

Need help with the following question please help… 1.Mr. and Mrs. Adam moved from Chicago, IL to Detroit, MI so that Mrs. Adams could accept employment with Ultra Corporation. As part of her employment contract, Mrs. Adams received a $10,000 moving allowance. What is the effect of this $10,000 cash receipt on the couple’s AGI […]

 

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TCO 2, 4, & 5) Prepare any journal entries based on the following data regarding the bank reconciliation

February 17, 2020 in /by

TCO 2, 4, & 5) Prepare any journal entries based on the following data regarding the bank reconciliation prepared by Titon Com for the month of April 20XX: Part A. The unadjusted balance in the cash account on Titon’s books was $8,715.71. Part B. The April 30 balance shown on Titon’s bank statement was $8,472.36. […]

 

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 Chris spends $800,000 to build a qualified low-income housing project, which is placed in service on January

February 17, 2020 in /by

1. Chris spends $800,000 to build a qualified low-income housing project, which is placed in service on January 1, 2012. He financed the project using his personal funds. What is the amount of the low-income housing credit that Chris may claim in 2012 (assuming a rate of 7.96%)? What is the total amount of the credit […]

 

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