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enot [183]
3 years ago
11

If a firm has set up a revolving credit agreement with a bank, the risk to the firm of being unable to obtain funds when needed

is lower than if it had an informal line of credit.a. Trueb. False
Business
1 answer:
Paladinen [302]3 years ago
3 0

Answer:

True

Explanation:

the risk to the firm of being unable to obtain funds when needed is lower than if it had an informal line of credit.

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Based on a predicted level of production and sales of 12,000 units, a company anticipates reporting operating income of $26,000
dexar [7]

Answer:

Fixed Cost = $10,000

Variable Costs = $90,000

Explanation:

Variable Cost per unit = $72,000 ÷ 12,000

                                      = $6

Variable Costs at 15,000 units = $6 x 15,000

                                                   = $90,000

Fixed Cost (given) = $10,000

8 0
2 years ago
The people of Texas authorize the borrowing of money on behalf of government through
Pachacha [2.7K]

Answer:

The people of Texas authorize the borrowing of money on behalf of government through:

  • Special Elections

Explanation:

  • The special elections generally are held to fill the vacant seat of member of house of representative in case of death or resignation and are called by the governor.
  • The special elections in Texas are held to fill the vacant seat of member of house of representative, to give approval for the borrowing of money on the behalf of government and to ratify the amendments occurred in the constitution of the state.

3 0
3 years ago
On June 30, 20X5, Mill Corp. incurred a $100,000 net loss from disposal of a business segment. Also, on June 30, 20X5, Mill paid
OleMash [197]

Answer:

$120,000

Explanation:

Total amount for inclusion in determining Mill Corp's net income or loss is as follows.

  • Net loss from disposal of business segment = $100,000
  • Property tax for 6 months to June 30, 20x5= $40,000 * 0.5 = $20,000

Therefore, total amount for inclusion = $100,000 + $20,000 = $120,000.

3 0
3 years ago
At the year-end, Encore Company has a product for inventory that was purchased at a cost of $23. The product's expected selling
allsm [11]

Answer:

$21

Explanation:

As we know that

The inventory should be recorded in the books of accounts by applying the lower value of cost or net realizable value

In the given case

The cost is $23

And, the net realizable value is

= Expected selling price - selling cost

= $36 - $15

= $21

So by comparing the cost and net realizable value, the net realizable value contains the lower value i.e $21 and the same is recorded on the balance sheet for inventory

6 0
3 years ago
Mountain High Ice Cream Company transferred $72,000 of accounts receivable to the Prudential Bank. The transfer was made with re
docker41 [41]

Answer:

Journal Entry

Explanation:

Cash Dr,                                      $63,360

Loss on sale receivable Dr,       $6,640

Receivable from factor Dr,         $6,200

         To resource liability                      $4,200

          To Accounts receivable               $72,000

(Being transfer on the books of Mountain High is recorded)

Working Note :-

2% × $72,000 = $1,440

Cash = ($72,000 × 0.90) - ($72,000 × 0.02)

= $64,800 - $1,440

= $63,360

Loss on sale receivable = ($4,200 + $72,000) - ($63,360 + $6,200)

= $76,200 - $69,560

= $6,640

8 0
3 years ago
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