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3 years ago

PLEASE HELP ASAP!!!! CORRECT ANSWERS ONLY PLEASE!!!!

Business

2 answers:

sweet-ann [11.9K]3 years ago

7 0

<span>Credit that is automatically renewed as debts are paid off.</span>

bixtya [17]3 years ago

4 0

Revolving credit is credit that is renewed as your debts pay off.
Credit cards are a good example of this.
Therefore, the answer should be the last choice: Credit that lets the borrower choose how much credit to use, and when to pay it.

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Onslow Co. purchased a used machine for $178,000 cash on January 2. On January 3, Onslow paid $2,840 to wire electricity to the

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Answer:

2nd January

Dr Machinery $178,000

Cr Cash $178,000

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Dr Machinery $4,000

Cr Cash $4,000

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Explanation:

- According to the information, all the expenses relating to the purchase of used machine are in cash. Thus, Cash is credited at the total amount of $182,000, in which $178,000 is credited in 2nd January to record the purchased price and the other $4,000 (2,840 + 1,160) is credited in 3rd January.

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3 years ago

A manager invests $400,000 in a technology that should reduce the overall costs of production. The company managed to reduce the

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Answer:

a. Considered sunk costs, not relevant in further decision making

Explanation:

the missing options are:

a. Considered sunk costs, not relevant in further decision making
b. Considered sunk costs, but still relevant in further decision making
c. Considered a loss
d. Considered a profit

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Answer:

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income tax withholding 10%

United Way contribution 5%

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federal income tax withholding -$1,190

United Way contribution -$595

Social Security -$737.80

Medicare -$172.55

health insurance -$125

net pay = $9,079.65

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Dr Wages expense

Dr FICA tax (OASDI) expense

Dr FICA tax (Medicare) expense

Cr Federal income tax withholding payable 1,190

Cr United Way contribution payable 595

Cr FICA tax (OASDI) withholding payable 737.80

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Cr FICA tax (Medicare) withholding payable 172.55

Cr FICA tax (Medicare) payable 172.55

Cr Health insurance 125

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