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r-ruslan [8.4K]
2 years ago
14

After much searching, Mort located an old banking friend of his father's. The banker offered Mort up to $25,000 in unsecured fun

ds, which Mort's firm could borrow any time within a year, as long as the bank has the money available. Mort was offered a(n)
Business
1 answer:
VladimirAG [237]2 years ago
4 0

Here, in the given case, Mort was offered a <u>line of credit </u>financial facility. Therefore, Option D is the correct choice.

<h3>What is a line of credit?</h3>

A line of credit is a versatile mortgage from a monetary group that includes a described amount of cash that you could access as needed and pay off both right now or over time. Interest is charged on a line of credit as quickly as money is borrowed.

The missing information in the question is given below:

A. revolving credit agreement.

B. asset guarantee pledge.

C. pledging agreement.

D. line of credit.

Therefore, Here, in the given case, Mort was offered a<u> line of credit </u>financial facility. Therefore, Option D is the correct choice.

Learn more about line of credit:

brainly.com/question/27126499

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Depreciation is a _____, a cost that cannot be affected by any future action.
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7 0
3 years ago
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if it was determined that the movement of exchange rates was not related to previous exchange rate values, this implies that a i
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The Delphi method, forecast by analogy, growth curves, extrapolation, and horizon scanning are all widely used tools for technology forecasting.

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1) simple linear regression;

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8 0
1 year ago
At the beginning of 2017, Miyazaki Company's Accounts Receivable balance was $105,000, and the balance in Allowance for Doubtful
madam [21]

Answer:

Miyazaki Company

a. Analysis of transactions:

Sales in 2017 = $787,500

Credit Sales = $630,000 (80% of $787,500)

Total collections on account = $502,500

Uncollectibles written off =   $3,000

Unpaid balance for the year = $229,500 ($105,000 + $124,500)

b. a) Bad Debt Expense = $18,900

   b) Bad Debt Expense = $14,820

c. Net Realizable Value of Accounts Receivable on December 31:

                                                             a)                      b)

Unpaid balance for the year       $229,500      $229,500

Allowance for doubtful accounts    (18,900)          (14,820)

Net Realizable Value =                $210,600        $214,680

d. The recognition of bad debts expense does not have any direct effect on the net realizable value.  It is the Allowance for doubtful accounts that has a negative effect on the net realizable value.

The write-off of accounts reduces the net realizable value by $3,000.

Explanation:

a) Data and Calculations:

Beginning balances:

Accounts receivable = $105,000

Allowance for Doubtful Accounts = $1,950

Sales in 2017 = $787,500

Credit Sales = $630,000 (80% of $787,500)

Total collections on account = $502,500

Uncollectibles written off =   $3,000

Unpaid balance for the year = $229,500 ($105,000 + $124,500)

Bad Debts Expense = $18,900 ($630,000 * 3%)

Allowance for Uncollectibles = $13,770 ($229,500 * 6%)

a) Allowance for Doubtful Accounts:

Account Titles               Debit        Credit

Beginning balance                        $1,950

Accounts receivable  $3,000

Bad Debts Expense                      18,900

Balance                       17,850

b) Allowance for Doubtful Accounts:

Account Titles               Debit        Credit

Beginning balance                        $1,950

Accounts receivable  $3,000

Bad Debts Expense                      14,820

Balance                       13,770

6 0
3 years ago
A law making labor more expensive will have what impact on the supply curve?
Mkey [24]
A. Shifting to the left
7 0
3 years ago
Read 2 more answers
Banc Corp. Trust is considering either a bankwide overhead rate or department overhead rates to allocate $396,000 of indirect co
kirill [66]

Answer:

overhead rate = 18 per hours

Explanation:

given data

indirect costs = $396,000

Department         DLH                      Loans Processed                Direct Costs

Consumer         14,000                   700                                        $280,000

Commercial       8,000                    300                                       $180000

to find out

overhead rate

solution

we get here overhead rate that is express as

overhead rate = \frac{indirect\ cost}{total\ DLH} ...............1

put here value

overhead rate = \frac{396000}{14000+8000}  

overhead rate = 18 per hours

4 0
3 years ago
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