Answer:
$50,000
Explanation:
Calculation to determine the amount of the loss on sale of receivables that CarsRUs would recognize at the sale of its receivables
Using this formula
Loss on sale of receivables=[(Recourse Accounts receivable*Finance fee charges)+Estimated recourse liability]
Let plug in the formula
Loss on sale of receivables=(3%*$800,000)+$26,000
Loss on sale of receivables=$24,000+$26,000
Loss on sale of receivables=$50,000
Therefore the amount of the loss on sale of receivables that CarsRUs would recognize at the sale of its receivables will be $50,000
Answer:
first-mover advantage
Explanation:
First-mover advantage exists when making the initial move into a market allows a firm to establish a dominant position that other firms may struggle to overcome.
Answer:
since there is not enough room here, I prepared a balance sheet category on an excel spreadsheet
Explanation:
Dr Wages payable 2,750
Cr Cash 2,750
Dr Real estate taxes expense 7,350
Cr Real estate tax payable 7,350
Dr Interest expense 5,437.50
Cr Interest payable 5,437.50
Dr Bond premium 145
Cr Interest expense 145
Dr Warranty expense
Cr Warranty liability
Dr Income tax expense 191,400
Dr Income tax expense (deferred) 70,470
Cr Income tax payable 191,400
Cr Deferred tax liability 70,470
Answer:
Enterprise resource planning
Explanation:
An enterprise resource system is a software suite that integrates, automate and streamlines the business processes and operations.
By acquiring an enterprise resource system, the production manager Marvin McNealy will be able to:
1. Improve efficiency and provide varied data analysis of all related business operations.
2. Customize the ERP to meet requirements of the various divisions.
3. Improve business operations through standardization of workflows across all divisions.
4. Improve data integrity, analysis and security across the divisions.
5. Ensure comprehensive visibility and reporting across all the divisions.