Answer: (F) Collateral
Explanation:
According to the given question, Collateral is referred to proper designation under UCC in which the Dennis refused to return television to the ABC electronics company.
The term Collateral is referring as assets such as television that is typically used to secure the loan as it provides a low internet rate and due to collateral they also makes the duration of the loan length.
Television is represented as collateral so ABC company cannot perfect its interest so due to this reason Dennis refuses to return television to the company. Collateral is known as the secured loan and it is used by the following ways:
- Purchasing personal assets
- Vehicles
- Investment purpose
- Paychecks
Therefore, Option (F) is correct answer.
Answer:
PV= $48,295.99
Explanation:
Giving the following information:
Future Value (FV)= $150,000
Number of periods (n)= 10 years
Interest rate (i)= 12% = 0.12
<u>To calculate the initial investment (PV), we need to use the following formula:</u>
PV= FV / (1+i) n
PV= 150,000 / (1.12^10)
PV= $48,295.99
We know that the total cost will be 30 lb * $3/lb = $90. We can thus set up an equation such that: 90 = 3.5*b + 2*(30-b), where b is the weight of blackberries and 30-b represents that which is not blackberries, that is, the blueberries.
We solve the equation as:
90 = 3.5b +60 -2b = 1.5b + 60
30 = 1.5b
b = 20
Thus 20 lbs of blackberries (and 10 lbs of blueberries) are needed.
Answer:
c. Dividends
Explanation:
Whenever, dividends are recorded as a liability then that amount is charged against retained earnings, but the final entry for payment of dividend =
Dividend A/c Dr. $670
To Cash A/c. $670
Also at the time of recording as an expense, entry will be
Retained Earnings A/c Dr. $670
To Dividend A/c $670
Since retained earning balance will be reduced and finally cash balance will also be reduced.
Therefore, entry for payment will include debit to
c. Dividends
Answer:
Customs Duty is a tariff or tax imposed on goods when transported across international borders. The purpose of Customs Duty is to protect each country's economy, residents, jobs, environment, etc., by controlling the flow of goods, especially restrictive and prohibited goods, into and out of the country.
