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3 years ago

Elly &Frank Valdez are thinking about buying a new house and financing it

Business

2 answers:

Gnom [1K]3 years ago

6 0

Answer: A.) Installment Credit

Explanation: Subject to approval, the loan afforded to Elly and Frank Valdez by their bank will most likely be an installment credit. The installment credit is a type of loan which requires the loanee to repay a fixed amount which has been borrowed at a regular scheduled amount over an agreed period of time. The loan period may vary depending on the agreement and amount of initial loan, and the repayment schedule also needs to be stated as maybe monthly, bimonthly, quartely and so on.

stich3 [128]3 years ago

5 0

Answer:

Installment Credit

Explanation:

AP3X

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In January, 2021, Summit Department Store sells a gift card for $50 and receives cash. In February, 2021, the customer comes bac

PtichkaEL [24]

Answer:

Feb. 2021

Dr Gift Card Liability $20

Cr Gift Card Revenue $20

(to record revenue arisen from oustanding Gift Card Liability)

Explanation:

Under GAAP, the accounting for Gift Card is quite simple. When the gift card are sold, Gift Card Issuer receives Cash (Debit Cash) and assume the Liability (Cr Liability) to anyone owning the gift card for later providing of goods/services priced at the Cash amount that had been received.

It is not until Gift Card is redeemed that Gift Card Issuer is allowed to record revenue (Credit Revenue) as it is an actual point of time when the provide of goods/services takes place. Also at the same time, once the goods/services are provided, they Liability assumed earlier in time through Gift Card issuance will be discharged to the extent of the price of goods/services provided.

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3 years ago

Software development process that develops software iteratively with a heavy emphasis on construction activities is known as

Veseljchak [2.6K]

Software development process that develops software iteratively with a heavy emphasis on construction activities is known as an agile process. This process is driven by and focused on customer descriptions. It recognizes that plans are only for a short time and delivers a number of software increments.

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3 years ago

A bond's ______ is generally $1,000 and represents the amount borrowed from the bond's first purchaser. A bond issuer is said to

blondinia [14]

Answer:

Maturity value; Default; Sinking fund provision; Call provision.

Explanation:

Maturity value is the sum payable to an investor toward the finish of a debt instrument's holding period (maturity date).

Sinking fund provisions means a provision in some bond indentures requiring the backer to set cash aside to reimburse bondholders at maturity.

A call provision is a provision on a bond or other fixed-pay instrument that enables the guarantor to repurchase and resign its bonds.

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3 years ago

5. A business in its first period of trading charges $4,000 of sales tax on its sales and suffers $3,500 of sales tax on its pur

Katyanochek1 [597]

The unrecoverable sales tax on business entertaining ($250) has been deducted from $3,500

solution

SALES TAX CONTROL ACCOUNT

Payable s $ 3250 Receivables $4000

Balance c/d (owned to tax authority) $ 750

------------- ---------------

$ 4000 $4000

-------------- ----------------

By balance b/d $ 750

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3 years ago

___________ is a process used to test consumer reactions about a product among potential users.

aleksandrvk [35]

Answer:

the correct answer is D

Explanation:

Test marketing is a process used to test consumer reactions about a product among potential users.

good luck

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3 years ago

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