Several years ago john johnson, who is in the lending business, loaned sara $30,000 to purchase an automobile to be used for personal purposes. in august of the current year, sara filed for bankruptcy, and john was notified that he could not expect to receive more than $4,000. as of the end of the current year, john has received $1,000 of the expected $4,000. john has contacted you about the possibility of taking a bad debt deduction for the current year. complete the letter to john that contains your advice as to whether he can claim a bad debt deduction for the current year.

Which of the following best explains why treasury bonds have an effect on the size of the money supply? a. the amount of treasury bonds in circulation affects both unemployment and inflation. b. the government can spend more money and charge lower taxes by using treasury bonds. c. the federal reserve bank can buy and sell these bonds to raise or lower bank deposits. d. the interest paid on treasury bonds influences the interest rates charged by private banks. 2b2t

Which of the following statements is true regarding the definition of a fund? a fund is a fiscal entity which is designed to provide reporting that demonstrates conformance with finance-related legal and contractual provisions separately from gaap reporting. a fund exists to assist in carrying on activities and attaining objectives where there are no specific rules or restrictions. a fund is an accounting entity which is designed to enable reporting in conformity with gaap without being restricted by legal or contractual provisions. a fund is a mechanism developed to provide accounting for revenues and expenditures that are subject to certain restrictions separate from revenues and expenditures that are not subject to restrictions.

Marta communications, inc. has provided incomplete financial statements for the month ended march 31. the controller has asked you to calculate the missing amounts in the incomplete financial statements. use the information included in the excel simulation and the excel functions described below to complete the task