Compare the sources of consumer credit

Amounts collected by the lender and held in a trust or impound account for future payment are called what?

Aleonysh [2.5K]

The amounts collected by the lender and held in a trust or impound account for future payment are called Reserves.

Reserves are earnings that have been appropriated or set apart, for use for a selected cause in addition down the road. A few examples of specific reserves include capital redemption reserves, contingency reserves, debenture redemption reserves, and dividend equalization reserves. each of these reserves has a particular purpose, but, if important, specific reserves can every so often be used for bills that are not their meant functions.

Reserves may be funded by way of annual working surpluses, or thru a funding plan. These price ranges are considered to be "savings bills" so no fees can be charged without delay to them; the simplest transfer object codes must be utilized to reserve money owed.

A lender is a man or woman, a set (public or non-public), or an economic institution that makes finances available to a person or business with the expectation that the price range could be repaid. Compensation will include the charge of any hobby or costs.

Learn more about economic institutions here brainly.com/question/4230044

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5 0

1 year ago

Brighton, Inc., manufactures kitchen tiles. The company recently expanded, and the controller believes that it will need to borr

Igoryamba

Answer:

Brighton, Inc.

a) Schedules Computing Inventory Budgets by months

a1) for Production:

April May June Total

Beginning Inventory 120,000 100,000 120,000 120,000

Units Produced 500,000 500,000 500,000 1,500,000

Inventory available 620,000 600,000 620,000 1,620,000

Less Ending Inventory 100,000 120,000 120,000 120,000

Units sold 520,000 480,000 500,000 1,500,000

a2) Raw Materials Purchases in pounds

April May

Ending inventory 50,000 50,000

Raw materials required 125,000 125,000

Raw materials available 175,000 175,000

Beginning Inventory 58,000 50,000

Purchases 117,000 125,000

Purchases value $4 per pound $468,000 $500,000

b) Projected Income Statement for May:

Net Sales $1,970,000

Cost of goods sold:

Finished Beginning Inventory $480,000

Cost of production 1,460,000

less closing inventory 480,000 $1,460,000

Gross profit $510,000

Selling expenses $200,000

Administrative expenses 155,000 $355,000

Net Income $155,000

Explanation:

a) Sales = $2,000,000

less cash discounts (1%) ($20,000)

less bad debts expense (0.5%) ($10,000)

Net Sales = $1,970,000

c) Sales Budget

April May June July Total

Sales units 600,000 500,000 600,000 600,000 2,300,000

Sales value$2,400,000 $2,000,000 $2,400,000 $2,400,000$9,200,000

d) Cost of Production:

May

Cost of raw materials used $500,000

Labor 390,000

Variable overhead 180,000

Fixed overhead 390,000

Total $1,460,000

e) Budgets are financial tools to forecast an entity's projections for sales, production, expenses, and cash balances. They help to anticipate developments ahead of time in order to plan for them and to prepare for unanticipated occurrences.

4 0

2 years ago

The Chinese government chooses to control the value of its currency so that it is consistently worth some fixed amount of U.S. d

Vadim26 [7]

Answer: pegged exchange rate

Explanation:

A pegged exchange rate also referred to as the fixed exchange rate, sometimes is an exchange rate regime type whereby the value of a currency is fixed by the monetary authority of a particular country against the value of the currency of another country.

This is the type of exchange rate used by the Chinese government in the question above.

8 0

3 years ago

Service Department Cost Activity Base for Allocation Graphics Production $200,000 number of copies Accounting 500,000 number of

Mandarinka [93]

Answer:

$350,000

Explanation:

Production = $200,000 number of copies

Accounting = $500,000 number of invoices processed

Personnel Department = $400,000 number of employees

These are all service cost

Total number of copies = 20,000 + 30,000 + 50,000 = 100,000

Total number of invoices processed = 700 + 800 + 500 = 2,000

Total number of employees = 130 + 145 + 125 = 400

Rate per service shall be as follows:

Production = $200,000/100,000 = $2 per copy

Cost of Super Division = $2 $\tiimes$ 50,000 = $100,000

Accounting = $500,000/2,000 = $250 per invoice

Cost of Super Division = $250 $\tiimes$ 500 = $125,000

Personnel Department = $400,000/400 = $1,000 per employee

Cost of Personnel Department = $1,000 $\tiimes$ 125 = $125,000

Total service cost of Super Department = $100,000 + $125,000 + $125,000

= $350,000

8 0

3 years ago

A state passes a law requiring major appliances sold in the state to meet energy consumption standards. which factor in the fir

german

<span>This best reflects the broader regulatory environment in which the firm operates. Changes in this environment will undoubtedly have effects on the firms future product offerings and bottom line.</span>

4 0

3 years ago