Answer:
Evan's business has no credit history.
Explanation:
As Evan has just created the company, it has no record about its ability to pay debt which is important for a bank to give a loan and it will not be willing to approve it if the company has no credit history that shows that it can make the payments. Because of that, it will require Evan to assume personal liability in order to have a guarantee that the loan would be paid back.
Answer:
administrative salaries.
Explanation:
Examples of fixed costs include rental lease payments, salaries, insurance, property taxes, interest expenses, depreciation, and potentially some utilities.
Answer:
July 1, 2020
Debit : Accounts Receivable $69,000
Credit : Sales $69,000
July 9, 2020
Debit : Cash $62,100
Debit : Discount allowed $1,380
Credit : Accounts Receivable $69,000
Explanation:
Note : Remove the discount from final payment.
The required journal entries for Swifty Co have been prepared above.
Answer:
$220.000
Explanation:
On June 1, Golden Apple negotiated a forward contract with a bank to sell the €200.000 in three months at a rate of $1,10. On september 1, the rate is 1,15 but as there was a previous contract signed, the rate is $1,10 taking into account that this type of contracts determine the rate of interest that will be paid on a future date.
