The allowance method is also used to achieve a proper carrying value for accounts receivable. Recording an allowance for expected uncollectible accounts receivable results in the outstanding accounts receivable being stated at their estimated realizable value, which is the amount of cash a company is l...
Process / method: Halisa is a byproduct that outgrewn the product it was designed for originally. While working on a commission to develop a visual identity and signage system for a XIX century sugar factory in Żnin, Poland that was being converted into a hotel I was provided many fact...
The first method you can use when giving your employee a taxable benefit is to provide them with an allowance. In this case, you would provide your employee with a lump sum so they can use it when needed . You may also release the funds over a period of time, for example, releasing ...
This is, of course, your main bank account and is the one which you use for your day-to-day spending including withdrawing cash and making small to medium purchases. You should check on your current account every few years to make sure that you’re getting the best in terms of rates an...
1. Describe (1) the direct write-off method and (2) the allowance method of recognizing bad debt expense. 2. Discuss the reasons why one of the above two methods is preferable to the other? What are the advantages of accrual versus cash accounting ...
How is the tax base of liability determined? Why is the accrual basis of accounting generally preferred over the cash basis? Explain why the write-down of impaired assets is considered a non cash expense. What is the definition of liability in accounting? Explain why, under US GAAP, companies...
I’ll also answer the following questions: Is milk good for you? What are the benefits and risks of consuming raw milk? What is A2 milk, and is it better than regular (A1) milk? What are healthy alternatives to regular cow’s milk?
The government would conduct quarterly auctions. A standard ascending-clock auction in which price is gradually raised until there is no excess demand would provide reliable price discovery. An auction is preferred to grandfathering (giving companies permits based on historical output or emissions), ...
Since reducing emissions is costly, self-interested countries prefer to “free ride” on the abatement efforts of other countries. Overcoming free riding by autonomous governments is the fundamental challenge for an effective cooperative agreement on climate change. Economic theory indicates there is a ...
There are also generous allowances and deductions, which can reduce the taxable amount. The profits tax rate for corporations is 16.5 percent on profits exceeding HK$2 million (US$255,000). For the first HK$2 million, a two-tiered rate applies: 8.25 percent for the first HK$2 million an...