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1 year ago

a _____ loan is intended to help consumers who have an unhealthy credit situation caused by overusing their credit.

1 answer:

8 0

A consolidation loan is intended to help consumers who have an unhealthy credit situation caused by overusing their credit. Thus the correct option is D.

An amount given by any financial institution to any individual in advance on a certain rate of interest that they need to repay during the given time is called a loan.

A consolidation loan is meant to assist individuals with credit problems brought on by excessive credit use. A debt reduction approach known as a debt consolidation loan is taking out a new loan to settle a number of bills.

Therefore, option D is appropriate.

Learn more about the consolidation loan, here:

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The complete question is probably

A _____ loan is intended to help consumers who have an unhealthy credit situation caused by overusing their credit.

a. personal

b. single-payment

c. buy-down

d. consolidation

e. standard

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mediation

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4 years ago

Assume the following information pertaining to Moonbeam Company:

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d. Material Purchases = $ 169,000

Explanation:

Cost Of Goods Statement.

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Add Material Purchases = $ 169,000

Less Ending Direct Materials = $130,000

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3 years ago

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Answer:

Journal entries - Perpetual inventory system

Inventory purchases (on account) 164,000

Inventory $ 164000(debit)

Trade Payables $ 164000 (credit)

Freight charges on purchases (paid in cash) 19,000

Freight Charges $ 19000 (debit)

Bank $19000 (credit)

*****Freight Charges forms part of cost of Inventory (IAS 2) therefore write off freight cost to Inventory Account****

Inventory $19000 (debit)

Freight Charges $ 19000 (credit)

Inventory returned to suppliers (for credit) 21,000

Trade Payable $ 21000 (debit)

Inventory $21000(credit)

Sales (on account) 259,000,

Trade Receivables $ 259000 (debit)

Revenue $259000(credit)

Cost of inventory sold 157,000

Cost of Sales $157000 (debit)

Inventory $157000 (credit)

Journal entries - Periodic inventory system

Inventory purchases (on account) 164,000

Inventory $ 164000(debit)

Trade Payables $ 164000 (credit)

Freight charges on purchases (paid in cash) 19,000

Freight Charges $ 19000 (debit)

Bank $19000 (credit)

*****Freight Charges forms part of cost of Inventory (IAS 2) therefore write off freight cost to Inventory Account****

Inventory $19000 (debit)

Freight Charges $ 19000 (credit)

Inventory returned to suppliers (for credit) 21,000

Trade Payable $ 21000 (debit)

Inventory $21000(credit)

Sales (on account) 259,000,

Trade Receivables $ 259000 (debit)

Revenue $259000(credit)

Cost of inventory sold 157,000

Cost of Sales $157000 (debit)

Inventory $157000 (credit)

Explanation:

Inventory purchases (on account) 164,000

Recognise an Asset - Inventory and a liability - Account payable

Freight charges on purchases (paid in cash) 19,000

Recognise an expense - Freight Charges and de-recognise asset - Bank

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Derecognise expense- Freight and recognise an asset - Inventory

Inventory returned to suppliers (for credit) 21,000

De-recognise Asset - Inventory and De-recognise Liability - Account Payable

Sales (on account) 259,000,

Recognise Asset - Trade Receivable and Recognise Revenue

Cost of inventory sold 157,000

Recognise expense - Cost of Sale in Profit and Loss and De-recognise Asset- Inventory

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3 years ago

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Answer:

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