All categories

3 years ago

What consequences do borrowers face if they miss many payments?

1 answer:

6 0

Depends on who they are owing money. But the party that lent the money can take legal action against the borrower and can get the state involved to seize property from him/her. Also depends on state and local law.

You might be interested in

What is a computer and its impact to society

Schach [20]

Explanation:

computers have changed the way people relate to one another and their living environment as well as how humans organise their work and their time

4 0

3 years ago

The organizational development (od) process has three steps: ___________, accompanied by feedback.

Helga [31]

<span>The organizational development (od) process has three steps: diagnosis, intervention, and evaluation, accompanied by feedback.

When referencing organizational development, we are referring to the watching the change and performance within organization/businesses. By watching this, organizations can approach and understand how to achieve success and what needs to be changed in order to do so.

</span>

7 0

3 years ago

Using the following information:

Bond [772]

Answer:

$9,000

Explanation:

As for the information provided,

Current allowance for bad debts = $35,000

Expected year end allowance = $40,000

Bad Debt written off = $4,000 during the period.

While writing off entry shall be:

Allowance for bad debts A/c Dr. $4,000

To Accounts Receivables $4,000

This will simply reduce the balance of allowance by $4,000

Effective balance = $35,000 - $4,000 = $31,000

As the allowance account balance is credit in nature.

Now desired year end balance = $40,000

For this entry shall be:

Bad Debt Expense A/c Dr. $9,000

To Allowance for Bad Debts $9,000

The amount is calculated as follows:

Desired amount of allowance - Balance in allowance.

$40,000 - $31,000 = $9,000

5 0

3 years ago

To reduce traffic, market town enacts an ordinance that allows only a few specific street vendors to operate in certain areas. a

pickupchik [31]

To reduce traffic, market town enacts an ordinance that permits only a few specific street vendors to function in certain areas. a court would likely review this ordinance under the principles equal protection.

<h3>What is principle equal protection?</h3>

The concept of equal protection states that no one should be denied the same level of protection from a government's laws. A person must be treated equally by the state's governing authority to others who are in comparable situations. Advocates have used the Equal Protection Clause, which mandates that states treat their residents equally, to challenge discriminatory laws, policies, and governmental acts.

Equal protection compels a state to govern impartially rather than making distinctions between people based purely on characteristics that are unrelated to a justifiable governmental goal. Therefore, the equal protection provision is essential for upholding civil rights. The goal of equal protection was to compel states to govern impartially and refrain from making disparities between people based on features that are immaterial to achieving governmental goals. In order to guarantee civil rights, the equal protection provision was essential.

Hence, To reduce traffic, market town enacts an ordinance that permits only a few specific street vendors to function in certain areas. a court would likely review this ordinance under the principles equal protection.

To learn more about principle equal protection refer to:

brainly.com/question/1600110

#SPJ4

8 0

2 years ago

Bush Company reported net income of $60,000 for the year. During the year, accounts receivable decreased by $8,000, accounts pay

steposvetlana [31]

Answer:

C) $77,000

Explanation:

‘Cash Flow Statement’ is one of major financial statement that indicates the inflow and outflow of cash along with the reasons by categorizing each cash transaction in three activities i.e., operating, investing or financing activity. Non-cash transactions are not considered while preparing a cash flow statement.

Operating Activities records the cash transactions involved in the operations of the business are recorded under ‘operating activities’ in the cash flow statement.

Examples: Revenue earned, expenses incurred etc.

There are two methods to prepare the cash flow statement. The only difference between both the methods is the way of presenting cash flow from operating activities.

The two methods of presenting cash flow statement are:

1. Direct method: Operating activities section under direct method reports the amount of cash received and paid by the company during the period.

2. Indirect method: Operating activities section under indirect method reports the net income and later adjusts the transactions to convert it to cash basis of accounting.

Cash flow statement has been attached below:

7 0

4 years ago