Explanation:
Period costs are always expensed on the income statement in the period in which: they are incurred.
Direct deposit typically refers to your <u>employer</u> sending your<u> paycheck </u>electronically to your bank account.
<h3>What is direct deposit?</h3>
Direct deposit can be defined as the way in which your employer directly deposit your salary into your bank account electronically.
Most companies or organization tend to make use of direct deposit system to pay their employee salary or paycheck instead of giving them cash or using check .
Inconclusion Direct deposit typically refers to your <u>employer</u> sending your<u> paycheck </u>electronically to your bank account.
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An impaired driver refers to someone who is under the influence of alcohol and is driving. If you are sharing the road with such a person, it is safest to drive behind such a person. You can take further action by parking beside the road, note down the vehicle's number and then call the appropriate patrol or emergency to inform them about the driver. This will ensure that such a driver is gotten off the highway.
Answer: Option C
Explanation: Foreclosure is something that occurs if the mortgage is not paid by a borrower. In fact, it is a judicial process through which the person relinquishes all ownership rights.
If the owner is unable to settle off the outstanding loans or sell property through a short sale, then the estate will go to an exchange for foreclosure. If the estate does not sell then, it will be taken over by the lender.
When a lender loans you money without any collateral (credit card debt, for instance), it can take you to court for failure to pay, but it can be very hard to collect money from you.
Lenders often sell this sort of debt to outside collection agencies for pennies on the dollar and write off the loss. This is considered an “unsecured loan.”
Answer:
$127,400
Explanation:
Gross profit ratio = [(sale - cost) ÷ sale price] × 100
= [($5,000,000 - $3,700,000) ÷ $5,000,000] × 100
= 0.26 × 100
= 26%.
Gross profit on down payment is recognized in 2019:
= Down payment × Gross profit ratio
= $490,000 × 26%
= $127,400