A qualifying child cannot include:
a. A nonresident alien.
b. A married son who files a joint return.
c. A daughter who is away at college.
d. A brother who is 28 years of age and disabled.
e. A grandmother.
e
RATIONALE: A grandmother does not meet the relationship test (choice e.). A qualifying child can be a nonresident alien under the adopted child exception (choice a.). The filing of a joint return is not fatal if filing is not required and its purpose is to obtain a tax refund (choice b.). A temporary absence is permissible under the domicile test (choice c.). A brother meets the relationship test, and disability waives the age test (choice d.).
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The following information is from the 2017 records of Lane Bicycle Shop
Accounts receivable, December 31, 2017 $40,000 (debit) Allowance for Bad Debts, December 31, 2017 prior to adjustment 1,900 (debit) Net credit sales for 2017 177,000 Accounts written off as uncollectible during 2017 18,000 Cash sales during 2017 27,000 Bad debts expense is estimated by the aging-of-receivables method. Management estimates that $5,000 of accounts receivable will be uncollectible. Calculate the ending balance of Allowance for Bad Debts, after the adjustment for bad debts expense, at December 31, 2017. A) $5,310 B) $8,800 C) $9,000 D) $5,000