Answer:
0
$180,000
0
$240,000
Explanation:
In 2018 and 2019, Dorothy may deduct none of the net passive losses that remain after offsetting the passive income. In 2018, the $20,000 of passive income is used to absorb $20,000 of the $200,000 passive loss, leaving $180,000 of passive loss suspended. In 2019, the $40,000 of passive income is used against the $100,000 passive loss, leaving a $60,000 passive loss suspended for that year. Thus , a total of $240,000 of passive losses is suspended at the year 2019 into 2020.
Explanation:
The Journal entry is shown below:-
On Jan 31
Allowance for doubtful accounts $2,800
To Accounts receivable - C. Green $2,800
(Being the uncollectible amount is recorded)
Mar 09
Accounts receivable - C. Green $2,300
To Allowance for doubtful accounts $2,300
(Being the written off amount is recorded
Mar 09
Cash $2,300
To Accounts receivable - C. Green $2,300
(Being the payment is received is recorded)
Answer:
see below
Explanation:
The government takes contractionary measures to check against rising inflation. Contractionary policies reduce liquidity in the market, thereby reducing the rate of money circulation.
<u> Four measures that may control inflation include</u>
1<u>. Increasing interest rates</u>: An increase in interest rates increases the cost of borrowing money. When the cost of money becomes expensive, firms and households reduce the borrowing rate, reducing the money supply rate. In turn, the inflation rate declines.
2. <u>Increasing reserve requirement:</u> Reserve is the proposition of customer discounts that commercial banks are expected to maintain at their custody at all times. Increasing the reserve requirement means banks will reduce lending, thereby reducing the money supply in the economy.
3. <u>The open market sells</u>: The government makes available many treasury bills and bonds for purchase in the market. It offers attractive rates that encourage banks and other institutions to buy them. Buying the treasury bills means banks will use a substantial percentage of customer deposits on treasury bills other than lending to customers. Open market sales mop up excess liquidity in the markets, reducing the rate of cash circulation.
4. <u>Reduction of government spending:</u> Government spending is a fiscal policy tool. The government is a big spender in an economy. If the level of spending is decreased, the money supply in the economy is reduced.
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Answer:
What is the amount of Supplies Expense that AllTech Corporation will recognize for the year?
$1050
Explanation:
Beggining of the year 1800
Purchased 1150
End of the year 1900
Expenses 1050
end = beg+purtcahse-expense
expense=beg+purchases-end
expense=1050