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Can the allowance method be used to record bad debt losses for income tax purposes?
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What type of depreciation method does the company probably use for income tax purposes?
Straight line method.
For income statement purposes depreciation is a variable expense if the depreciation method is?
Units-of-production
The method used to calculate depriciationfor income tax purposes is A sum of years method Bdeclining balance method C units of production method D modified accelerated cost recovery system method?
D) MACRSSilly accounting students posting questions for their homework....
Is it true when using the allowance method of accounting for uncollectible accounts the entry to record the bad debt's expense's is a debit to Bad Debts Expense and a credit to Account's Receivable.?
No while using allowance method, bad debts are charged to allowance for bad debts account rather charging the accounts receivable because accounts receivable was already charged with allowance when it was created.
The balance in Allowance for Doubtful Accounts must be considered prior to end of period adjustment when using what methods?
Allowance Method
What type of depreciation method does the company probably use for income tax purposes?
Straight line method.
Several methods of handling family income are used by filipino families?
The Handout Method The Allowance or Apportionment Method The Fifty-fithy Method The Equal Salary Method The Finance Plan or Budget Method
For income statement purposes depreciation is a variable expense if the depreciation method is?
Units-of-production
Under the allowance method Bad Debt Expense is recorded?
Under the allowance method bad debt expenses are charged to allowance for bad debts accounts instead of profit and loss account because profit and loss account is already charged with the allowance amount created.
The method used to calculate depriciationfor income tax purposes is A sum of years method Bdeclining balance method C units of production method D modified accelerated cost recovery system method?
D) MACRSSilly accounting students posting questions for their homework....
What is National Income Accounting as a method of National income?
Following are the method of national income accounting :-Product MethodExpenditure MethodIncome Method
Is it true when using the allowance method of accounting for uncollectible accounts the entry to record the bad debt's expense's is a debit to Bad Debts Expense and a credit to Account's Receivable.?
No while using allowance method, bad debts are charged to allowance for bad debts account rather charging the accounts receivable because accounts receivable was already charged with allowance when it was created.
The balance in Allowance for Doubtful Accounts must be considered prior to end of period adjustment when using what methods?
Allowance Method
What method may be used to record a loss due to a price decline in the value of inventory?
Allowance method.
Methods of calculating national income?
There are three methods in calculating the national income. One is the net output method. Another is the income method, and lastly, the outlay method.
What is national income accounting as a methods of national income?
Following are the method of national income accounting :-Product MethodExpenditure MethodIncome Method
What is the percentage-of-receivables method?
The percentage-of-receivables method is a way for a company to estimate its Allowance for Uncollectible Accounts and Bad Debt Expense. It is considered a "Balance Sheet Approach," because total Allowance for Uncollectible Accounts is estimated as a percent of total Accounts Receivable. Bad Debt expense then becomes the increase between the previous year's Allowance and the current year's Allowance.
