Answer:
B. In a single payment, and the collateral is returned
<u>Multiple-choices</u>
A. In multiple payments, and collateral is retuned
B. In a single payment, and the collateral is returned.
C. The lender sells the item to pay off the interest.
D. The lender cashes a postdated check.
Explanation:
A pawn-loan is a credit facility based on collateral provided. Pawnshop issues pawn-loans without any credit history checking. The borrower presents an item of value, either jewelry, electronics, mobile gadgets, or other items resellable to other customers.
A pawnshop typically issues short term loans. The credit period is mostly 30 days. The borrower is should to repay the loan amount plus interest by end of month to redeem their collateral. Due to the short credit period and the high risk of lending, pawnshops do not usually allow installment repayments.
Answer:
with space: =A2&" "&B2
without space: =CONCATENATE(A2,B2)
Explanation:
When using Microsoft Excel the function that you would want to use would be the following
=A2&" "&B2
In this function, you will be combining the text in cell A2 and B2 with a space in the middle, you can change to the cells that you want and simply add &" "& in between them to combine them with a space.
If you simply want to combine the words with no space in between them you can use the concantenate function which combines words in two cells into one but without space.
=CONCATENATE(A2,B2)
Answer:
The cost of the equipment when it was acquired on January 1, 2011 is $10000
Explanation:
10000÷5=2000
2000*10=20000
20000 80%
X 100% X=25000
25000*20%= 5000 25000-20000=20000
2011 2000
2012 2000
2013 2000
2014 2000
2015 2000 10000
Answer:
Open end
Explanation:
Open end otherwise known as mutual fund are those investments offered through fund companies which sells shares directly to investors. In an open end fund investment, there is no limit to the number of shares that can be offered therein. The shares traded are unlimited which means that shares can be issued in as much can be backed up with funds.
The prices for open end funds are fixed once daily which shows the performance of the investment for that day hence the only price at which investment shares can be bought for that day.
Answer:
(A) June 4
Inventory debit 1,065
Accounts Payable credit 1,065
(B) June 15
Inventory debit 1,550
Cash credit 1,550
(C) June 30
Accounts Payable debit 1,065
Cash credit 1,065
Explanation:
(A) there is no information or suggestion that Lweis will take the discount, we post as it was nominal, if later on it is paid within the discount period, we will recognize it. <u>No discount is recorded</u>
(B) Simple: increase the inventory receive and decrease cash by the amount paid.
(C) We settle the account payable for the nominal of the purchase.
It wasn't within the discount period. So <u>no discount is granted.</u>
