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MariettaO [177]
3 years ago
5

If you must apply for a loan, you should?

Business
1 answer:
Agata [3.3K]3 years ago
7 0
First have good credit.
You might be interested in
Assume that ABC had a retained earnings balance of $10,000 on April 1, and that the company had the following transactions durin
Lostsunrise [7]

Answer:

ABC's retained earnings balance at the end of April is $11,400

Explanation:

The addition to retained earnings in the current month is revenue derived from providing services to customers minus the expenses such as rent and employee salaries

Net income for the month=$2,000+$900-$800-$700=$1400

Retained earnings at month end=opening retained earnings+net income

Retained earnings at month end=$10,000+$1,400=$11,400

8 0
3 years ago
What is the difference between earned income, passive income, and investment income?
Rudiy27

Explanation:

Earned income consists of income you earn while you are working a full-time job or running a business.

Passive income is income earned from rents, royalties, and stakes in limited partnerships.

Portfolio income is income from dividends, interest, and capital gains from stock sales.

4 0
2 years ago
A local jacket distributor expects to sell 9,000 black fleece jackets in a year. Assume that EOQ model assumptions are valid. Ea
torisob [31]

Answer: $4,800

Explanation:

First find the Annual holding cost:

= Average inventory * Cost of holding a unit

= 500/2 * 1 * 12 months

= $3,000

Then find the Annual ordering cost:

= Expected units to be sold/ Units ordered * Ordering cost

= 9,000/500 * 100

= $1,800

Annual Inventory cost = Annual holding cost + Annual ordering cost

= 3,000 + 1,800

= $4,800

4 0
2 years ago
Cullumber Manufacturing Company purchased 14600 switches to make 6300 units. The standard allows for 2 switches per unit. The co
earnstyle [38]

Answer:

d. $1,875 unfavorable

Explanation:

Direct material quantity variance is computed as;

= (AQ - SQ) × SP

AQ = Actual quantity = 6,300 units

SQ = Standard quantity = 14,200 / 2 = 7,300 units

SP = Standard price = $0.80

Direct material quantity variance

= (6,300 - 7,300) × 0.80

= -1,000 × $0.80

= -1,875 unfavorable

3 0
3 years ago
[The following information applies to the questions displayed below.]
Orlov [11]

Answer:

Pose-for-Pics

Effects on the accounting equation:

            Assets                                                 = Liabilities + Equity

Aug 1   Cash +$9,000 Equipment +$38,700 =  M. Harris, Capital +$47,700

Aug 2  Cash  -$2,300 Prepaid Insurance +$2,300

Aug 5  Cash    -$1,710 Supplies +$1,710

Aug 20 Cash +$2,650                                        = Revenue +$2,650

Aug 31  Cash  -$870                                            = Utilities Expense -870

Total assets   $49,480                                        = Total equity $49,480                                                                                    

Explanation:

a) Data and Analysis based on the accounting equation:

August 1 Cash $9,000 Equipment $38,700 M. Harris, Capital $47,700

August 2 Prepaid Insurance $2,300 Cash ($2,300)

August 5 Supplies $1,710 Cash ($1,710)  

August 20 Cash $2,650 Service Revenue $2,650

August 31 Utilities ($870) Cash ($870)

8 0
2 years ago
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