In 2010, Tru Corporation Deducted $5,000 of Bad Debts

question 91

Essay

In 2010, Tru Corporation deducted $5,000 of bad debts. It received no tax benefit from the deduction because it h NOL in 2010 that it was unable to carry back or forward. In 2011, Tru recovered $4,000 of the amount due.
a) What amount must Tru include in income in 2011?
b) What effect does the $4,000 have on E&P in 2011, if any?

Comprehend the steps and components involved in the strategic marketing process.

Recognize various strategies within the marketing mix (product, price, place, promotion).

Understand the purpose and content of a marketing plan and strategy.

Grasp the concept and use of Gantt charts in marketing project management.

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