Answer: LINE OF CREDIT
Explanation: Line of credit can be defined as the credit source to individuals, banks and governments that is offered by banks. Under this method the bank agrees to borrow money to a certain amount and the borrower has to pay interest on the amount borrowed.
In the given case, the manager has negotiated a certain level of borrowing limit hence it is definitely a line of credit.
It’s the answer C) 55,000
Answer:
The journal entry for disposal of equipment will be as follows;
Explanation:
Accumulated Depreciation Dr.$98,000
Cash Dr.$40,000
Loss on disposal (150-98-40) Dr.$12,000
Equipment Cr.$150,000
Answer:
d. $8,300.
Explanation:
Direct Materials
Beginning 8,200
Purchases *16,800
Requisitions 18,400
Ending 6,600
We solve for purchases:
6,600 + 18,400 - 8,200 = 16,800
WIP Inventory
Beginning 7,700
Materials 18,400
Labor 13,700
Overhead 8,200
Transferred Out <u> 39,700*</u>
Ending 8,300
The transferred-out from WIP inventory is the transferred-in for Finished Goods
Answer:
Hence, the quote that should be listed in the newspaper is 102.024
Explanation:
The computation of the quote that should be listed in the newspaper is shown below:
Quote would be listed is
= $10,275 ÷ $10,000 × 100
= 102.75
= 102 : 0.75 × 32
= 102.024
Hence, the quote that should be listed in the newspaper is 102.024
hence, the same is to be considered by taking all the information given in the question