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2 years ago

The problem of bankruptcy is associated with misuse of credit in the ______________ component of financial planning.

1 answer:

4 0

The problem of bankruptcy is associated with the misuse of credit in the <u>borrowing</u> component of financial planning.

Making a plan for your future, specifically one that addresses how you will handle your finances and be ready for any potential expenses and problems is known as financial planning.

Policy creation in relation to borrowing and lending, cash management, and other financial activities results from financial planning. Such policies will aid in making crucial decisions for the management of capital and achieving financial activity coordination.

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The market for gasoline has changed in a couple significant ways over the last few years: new technologies have decreased the co

Phantasy [73]

In economics, supply and demand refers to a relationship between the amount of a ware that producers wish to offer at different costs and the amount that consumers wish to purchase.
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3 years ago

Read 2 more answers

What is one of the advantages of buying an existing business

Sloan [31]

Here are several advantages to buying an existing business; Immediate cash flow, existing costumers, suppliers, and financial history.

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3 years ago

Record the January 31, 2019 adjusting entry for the December 31, 2018 receipt of $3,000 from race participants for providing ser

MAXImum [283]

Answer:

Debit Unearned revenue $1,000

Credit Service revenue $1,000

Explanation:

When cash is received in advance for service yet to be provided, an asset and a corresponding liabilities are created.

The liability is then reduced as the revenue for which cash was collected in advance is earned.

Given that the December 31, 2018 receipt of $3,000 from race participants for providing services for three races. One race is held on January 31, 2019 and the other two will be held in March 2019.

Revenue from one race = 1/3 × $3,000

= $1,000

Since One race is held on January 31, 2019, entries required

Debit Unearned revenue $1,000

Credit Service revenue $1,000

Being entries top recognize revenue earned from the race held on January 31, 2019 .

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3 years ago

Rocky industries received its telephone bill in the amount of $300 and immediately paid it. rocky's journal entry to record this

loris [4]

Hi there

The journal entry would be

debit to telephone expense for $300
Credit to cash for $300

Good luck!

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3 years ago

King Company issued bonds with a face amount of $1,600,000 in 2015. As of January 1, 2020, the balance in Discount on Bonds Paya

dangina [55]

Answer:

Dr Bonds payable 1,600,000

Dr Loss on redemption of bonds 36,800

Cr Cash 1,632,000

Cr Discount on bonds payable 4,800

Explanation:

Loss/gain on redemption of bonds = carrying value - cash paid = ($1,600,000 - $4,800) - $1,632,000 = $1,595,200 - $1,632,000 = -$36,800 loss

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3 years ago