All categories

1 year ago

What‘s the main reason our culture has normalized credit cards over the past 60 years?.

1 answer:

7 0

We have slowly increased our demand for high-value items and therefore need credit cards rather than cash because carrying around.

For illustration,$ 40k in cash on your way to buy an auto isn't the safest idea. We can change the normalization of debt in the future by tutoring in academic ways to avoid debt and tutoring the true consequences of having so important debt.

Credit is generally defined as an agreement between a lender and a borrower. Credit also refers to an existent's or business's creditworthiness or credit history. In account, a credit may either drop means or increase arrears as well as drop charges or increase profit.

credit, which is capitalist that is available for you to borrow, debt is capitalist you've formerly espoused but haven't yet paid back. Credit is simply the capability to acquire debt.

still, you're adding$ 50 in debt, If you use your credit card to make a$ 50purchase. A loan can be considered as a disbenefit balance when the loan is given out by the business while it can be considered as a credit balance when it's taken by the business. Also, read MCQs on Trial Balance.

Learn more about credit here: brainly.com/question/6872962

#SPJ4

You might be interested in

The main reason price ceilings are set is so that consumer prices

shepuryov [24]

Answer:

The main reason for imposing price ceilings is to protect the interests of the consumers in situations in which they are not able to afford needed commodities.

Explanation:

3 0

2 years ago

Gibson Guitar Corporation has chosen to build instruments one at a time, by hand. Gibson's century-old tradition of creating inv

kow [346]

Answer:

product

Explanation:

8 0

3 years ago

The following labor standards have been established for a particular product: Standard labor-hours per unit of output 9.9 hours

topjm [15]

Answer:

-$30,250 favorable

Explanation:

labor efficiency variance = (standard quantity - actual quantity) x standard labor cost

actual quantity = 7,700 hours
standard quantity = 9.9 hours x 1,000 units = 9,900
standard labor cost = $13.70

labor efficiency variance = (7,700 - 9,900) x $13.70 = -$30,250 favorable variance

the variance is favorable, because less hours were actually used than forecasted

5 0

3 years ago

Leker exchanged real property that was used exclusively for business and had an adjusted tax basis of $20,000 for new real prope

goldfiish [28.3K]

Answer:

$17,000

Explanation:

Leker's Old Property Adjusted Tax Basis = $20,000

To calculate the new basis, subtract the $3000 recieved in cash from the new property.

New Tax Basis; $20,000-$3,000= $17,000

The transaction of Leker to exchange a real property for another led to a loss: Meaning a Property of $20,000 was exchanged for a property of $10,000+ $3,000 (cash)= $13,000

The Loss on the transaction= $20,000- $13,000= $7,000

Due to the loss no gain is recognized and the $3000 will reduce the basis for his new asset.

6 0

3 years ago

The balance sheet of Starsky Company at December 31, 2019, includes the following. Notes receivable $36,000 Accounts receivable

Arturiano [62]

Answer:

Journal Entry

Explanation:

1. Cash Dr, $136,800

Sales Discount Dr, $1,200

($60,000 × 2%)

To Accounts receivable $138,000

(Being cash is recorded)

2. Accounts receivable Dr, $5,300

To Allowance for doubtful accounts $5,300

(Being written off is recorded)

Cash Dr, $5,300

Accounts receivable $5,300

(Being payment received is recorded)

3. Allowance for doubtful accounts Dr, $17,500

To Accounts receivable $17,500

(Being written off is recorded)

4. Bad Debts expense Dr, $14,900

=$20,000 - ($17,300 + $5,300 - $17,500)

To Allowance for doubtful accounts $14,900

(Being bad debt expenses is recorded)

8 0

3 years ago