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Hitman42 [59]
3 years ago
8

| 50 POINTS | How Is Open End Credit Different From Closed End Credit ? NO GOOGLE ANSWERS ! Provide Advantages And Disadvantages

!
Business
2 answers:
Gnom [1K]3 years ago
8 0
Closed end credit is a type of credit that has to be repaid to the person by a  specific timeframe. Types of closed end credits would be car loans or mortgage lending. 
Open end credit is loan that is pre approved between the person that is taking out the loan and the company that is giving the loan. Open end credit can also be used a numerous amount of times but up to a certain limit. This must be paid back previous to the payments that are coming due.
Evgen [1.6K]3 years ago
3 0
Hope I can help you out

With an open-end credit load, you may down pay your loan balance and reuse those funds in the future. All adjustable rate Reverse Mortgage loans that were currently offer are considered open-end credit. 
With closed- end credit load, you can pay down the load balance, but you cannot redraw those funds in the future, Today in a store, fixed rate load offerings are considered closed- end credit
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The following information is available from the current period financial statements:
Galina-37 [17]

Answer:

$166,000

Explanation:

The net cash flow from operating activities using the indirect method is computed below:

Cash flow from Operating activities - Indirect method

Net income $175,000

Adjustment made:

Add : Depreciation expense $28,000

Less: Increase in accounts receivable -$16,000

Less: Decrease in accounts payable -$21,000

Total of Adjustments -$9,000

Net Cash flow from Operating activities $166,000

8 0
3 years ago
The Allowance for Bad Debts account has a debit balance of $ 9 comma 000$9,000 before the adjusting entry for bad debts expense.
Yakvenalex [24]

Answer:

the amount of the adjustment in the Allowance for

Bad Debts​ account  $3.000

Explanation:

Initial Balance  

Allowance for Uncollectible Accounts  $ 9.000

END Balance  

Allowance for Uncollectible Accounts  $ 12.000

The adjustment entry in the accountig will be

Bad debt expense  $ 3.000  

Allowance for Uncollectible Accounts   $ 3.000

3 0
3 years ago
What percentage of the 27.3 million businesses in the united states are small companies with less than 500​ employees?
Strike441 [17]
<span>Of the over-27 million businesses, only 18,500 employ over 500 employees. 18,500/27.3mil = 0.0678%, so subtracting that from 100% leaves 99.9322% of all companies having a workforce under 500 employees. These are the "small businesses."</span>
3 0
3 years ago
find the future value of an ordinary annuity of $60 paid at the end of each quarter for 3 years, if interest is earned at a rate
max2010maxim [7]

The future value of an ordinary annuity of $60 paid at the end of each quarter for 3 years, if interest is earned at a rate of 4%, compounded quarterly will be 907.2$

<h3>What is Compounding?</h3>

Compounding is the method through which interest is added to both the principle balance already in place and the interest that has already been paid. Thus, compounding can be thought of as interest on interest, with the result that returns on interest are magnified over time, or the so-called "magic of compounding." After a year, you would receive $10 in interest if you deposited $1,000 into an account with a 1% annual interest rate. Compound interest allowed you to earn 1 percent on $1,010 in Year Two, which amounted to $10.10 in interest payments for the year.

Hence, The future value of an ordinary annuity of $60 paid at the end of each quarter for 3 years, if interest is earned at a rate of 4%, compounded quarterly will be 907.2$

To learn more about compounding click,

brainly.com/question/24274034

#SPJ4

7 0
1 year ago
Francis works for a local fly-fishing shop. The shop allows employees to purchase two fly rods per year at a discount. This year
RUDIKE [14]

The amount of discount that has to be included in Francis's income is 0.

<h3>How to solve for the discount amount</h3>

The amount of the discount - sales price

= 300 - 250

= $50

This is the discount when it is sold to employees

Next we solve for the gross profit as

sales price x gross profit rate

= 300 x 30%

= 90

Given the amounts that we have here we have to conclude that the amount to be included in the account is 0

Read more on what a discount is here:

brainly.com/question/9841818

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6 0
2 years ago
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