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2 years ago

How will avoiding student loans help set the tone for not taking on debt for the rest of your life?.

1 answer:

8 0

It will become second nature to avoid using credit and other sorts of loans if you are already accustomed to avoiding student loans. But there are some tips to prevent student loans.

<h3>Tips to Avoid Student Loan</h3>

- Adopt blended learning.

- Determine to Fund Your Education with Cash.

- Change Credits.

- Apply for all available aid.

- Exams to Exit Courses

- Work Campus-Based.

- Accept a part-time position.

- Consider Repayment Options.

A student loan can considerably impede a borrower's ability to attain specific life goals, such as getting married, having children, purchasing a home, pursuing additional education, or obtaining an exceptional career in their desired sector. However, people without school debt can more effectively attain their financial and personal objectives.

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x-co issued 1,000 shares of its 5%, $10 par value, cumulative preferred stock for $100 cash per share. the journal entry to reco

gizmo_the_mogwai [7]

If the company issued 1,000 shares of its 5%, $10 par value, cumulative preferred stock for $100 cash per share. the journal entry to record this event includes: is: Debit Cash $100,000 ; Credit to Preferred Stock $100,000.

<h3>How to prepare the journal entry?</h3>

Based on the given information we were told that the company issued 1,000 shares in which the cumulative preferred stock is the amount $100 cash per share. The appropriate journal entry to record the transaction is:

Journal entry

Debit Cash $100,000

Credit to Preferred Stock $100,000

( To record preferred stock)

Workings:

Preferred stock = 1,000 shares × $100 cash per shares

Preferred stock = $1000,000

Therefore the correct journal entry to record the transaction is to debit cash with the amount of $100,000 and credit Preferred stock with the amount of $100,000.

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6 0

1 year ago

At the beginning of the current period, Teal Mountain Corp. had balances in Accounts Receivable of $211,200 and in Allowance for

cupoosta [38]

Answer and Explanation:

The Journal entry is shown below:-

a. Accounts Receivable $804,300

To Sales $804,300

(Being credit is sales recorded)

Cash Dr, $839,040

To Accounts Receivable $839,040

(Being collection during the period is recorded)

b. Allowance for Doubtful Accounts Dr, $7,902

To Accounts Receivable $7,902

(Being uncollectible accounts are written off is recorded)

c. Accounts Receivable Dr, $3,002

To Allowance for Doubtful Accounts $3,002

(Being to reinstate collected account previously written off is recorded)

Cash Dr, $3,002

To Accounts Receivable $3,002

(Being collection of previously written off is recorded)

d. Bad Debts Expense Dr, $18,170

To Allowance for Doubtful Accounts $18,170

(Being adjust allowance for doubtful accounts is recorded)

Working note:-

Allowance for Doubtful Accounts

Beginning balance $9,490

Written off $7,902 Recovery $3,002

Bad debts $18,170

Ending balance $22,760

5 0

3 years ago

What are six resources for helping you decide what type of business to start and how to start it

zaharov [31]

1. Find a good business idea

A good business idea isn’t just one that turns a profit. It’s one that’s a good fit for you personally, for your target market, and for your location. You’re going to be in business for the long haul, so you really should pick something you can live and breathe.

Identify your strengths and weaknesses Conduct a SWOT analysis on yourself Come up with a business idea that caters to your strengths How to start inventing things (or how to find something to invent)Define what success looks like for you Do your research: What are popular businesses today?

8 0

3 years ago

Maggie Sharrer Company borrows $88,500 on September 1, 2017, from Sandwich State Bank by signing an $88,500, 12%, one-year note.

xenn [34]

Answer:

interest = $3,540

Explanation:

given data

principal = $88,500

rate = 12 %

time = 4 months ( September 1, 2017 to September 1, 2017 )

to find out

What is the accrued interest

solution

we get here interest that is express as

interest = principal × rate × time .......................1

put here value we get interest

interest = $88500 × 12% × $\frac{4}{12}$

interest = $88500 × 0.12 × 0.33333

interest = $3,540

4 0

4 years ago

Do you think all business within a country benefit when the economy grows

Mumz [18]

Answer:

Explanation:

Yes, because business pay taxes and there is less need to spend money on benefits such as unemployment benefit. Therefore economic growth helps to reduce government borrowing.

5 0

4 years ago