Ervin Company uses the allowance method to account for uncollectible accounts receivable. Bad debt expense is established as a percentage of credit sales. For 2021, net credit sales totaled $5,200,000, and the estimated bad debt percentage is 1.30%. No previously written-off accounts receivable were reinstated during 2021. The allowance for uncollectible accounts had a credit balance of $49,000 at the beginning of 2021 and $43,500, after adjusting entries, at the end of 2021.
Required:
1. What is bad debt expense for 2021 as a percent of net credit sales?
2. Assume Ervin makes no other adjustment of bad debt expense during 2021. Determine the amount of accounts receivable written off during 2021.
3. If the company uses the direct write-off method, what would bad debt expense be for 2021?

Josie, an unmarried taxpayer, has $155,000 in salary, $10,000 in income from a passive investment in a limited partnership, and a $26,000 passive loss from a real estate rental activity in which she actively participates. if her modified adjusted gross income is $155,000, how much of the $26,000 loss is deductible

Each month, business today publishes a news piece about an innovative product, service, or business. such soft news is generally written by a freelance business writer and is known as a

The cost of capital: introduction the cost of capital: introduction companies issue bonds, preferred stock, and common equity to aise capital to invest in capital budgeting projects. capital is』necessary factor of production and like any other factor, it has a cost. this cost is equal to the select the applicable security. the rates of return that investors require on bonds, preferred stocks, and common equity represent the costs of those securities to the firm. companies estimate the required returns on their securities, calculate a weighted average of the costs of their different types of capital, and use this average cost for capital budgeting purposes. required return on rate: when calculating om operations when the firm's primary financial objective is to select shareholder value. to do this, companies invest in projects that earnselect their cost of capital. so, the cost of capital is often referred to as the -select -select and accruals, which a se spontaneously we hted average cost of capital wa c our concern is with capital that must be provided by select- 쑤 interest-bearing debt preferred stock and common equity. capital budgeting projects are undertaken, are not included as part of total invested capital because they do not come directly from investors. which of the following would be included in the caculation of total invested capital? choose the response that is most correct a. notes payable b. taxes payable c retained earnings d. responses a and c would be included in the calculation of total invested capital. e. none of the above would be included in the cakulation of total invested capital.