Kiley Company had a $700 credit balance in Allowance for Doubtful Accounts (What is normal balance for the contra asset? Debit or Credit) at December 31, 2020, before the current year's provision for uncollectible accounts. An aging of the accounts receivable revealed the following:
Estimated Percentage Uncollectible
Current Accounts $120,000 1%
1-30 days past due 12,000
31-60 days past due 10,000 8%
61-90 days past due 5,000 17%
Over 90 days dus 8,000 40%
Total Accounts Receivable $155,000
Required:
(a) Calculate the balance for the Allowance for Doubtful Accounts.
(b) Prepare the adjusting entry on December 31, 2020, to recognize bad debts expense.
(c) Calculate the net realizable value after your adjusting entry for December 31, 2020.

Nell and kirby are in the process of negotiating their divorce agreement. what should be the tax consequences to nell and kirby if the following, considered individually, became part of the agreement? a. in consideration for her one-half interest in their personal residence, kirby will transfer to nell stock with a value of $200,000 and $50,000 of cash. kirby's cost of the stock was $150,000, and the value of the personal residence is $500,000. they purchased the residence three years ago for $300,000.nell's basis for the stock is $ xkirby's basis in the house is $ xb. nell will receive $1,000 per month for 120 months. if she dies before receiving all 120 payments, the remaining payments will be made to her estate.the payments (qualify, do not qualify) as alimony and are (included in, excluded from) nell's gross income as they are received.c. nell is to have custody of their 12-year-old son, bobby. she is to receive $1,200 per month until bobby (1) dies or (2) attains age 21 (whichever occurs first). after either of these events occurs, nell will receive only $300 per month for the remainder of her life.$ x per month is alimony that is (included in, excluded from) nell's gross income, and the remaining $ x per month is considered (child support, property settlement) and is (nontaxable, taxable) to nell.

If the family’s net monthly income is 7,800 what percent of the income is spent on food clothing and housing?

Bulldog holdings is a u.s.-based consumer electronics company. it owns smaller firms in japan and taiwan where most of its cell phone technology is developed and manufactured before being released worldwide. which of the following alternatives to integration does this best illustrate? a. venture capitalism b. franchising c. joint venture d. parent-subsidiary relationship