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Tpy6a [65]
3 years ago
8

What is consumer credit?

Business
1 answer:
Novay_Z [31]3 years ago
8 0
Credit advanced to consumers for the purchases of goods and services
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Equipment is a(n) _____________ account. It is reported on the _____________ side of the accounting equation and is ____________
Stella [2.4K]

Answer:

Equipment is an _asset__ account. It is reported on the _left_ side of the accounting equation and is __increased__ when equipment is purchased

Explanation:

Buying more Equipment is an asset to company in the sense that it helps in boosting the company production output and in turn generating more profit. It is reported on the left side of the company accounting equation. The aggregate equation increases as the number of equipment purchase increases.

3 0
3 years ago
During 2018, P Company discovered that the ending inventories reported on its financial statements were incorrect by the followi
const2013 [10]

Answer:

D. $30,000 overstated

Explanation:

Understatement of ending Inventory overstate the value of cost of Goods sold and understate the value of Net income and retained earning as well.

Overstatement of ending Inventory understate the value of cost of Goods sold and overstate the value of Net income and retained earning as well.

In 2016 the net income and retained earning was understated by $120,000.

In 2017 the net income and retained earning was overstated by $150,000.

Net Effect of both event in Retained earning at January 1, 2018

$150,000 overstated - $120,000 understated = $30,000 overstated

4 0
3 years ago
Bolding Inc.'s contribution margin ratio is 61% and its fixed monthly expenses are $47,500. Assuming that the fixed monthly expe
Natali5045456 [20]

Answer:

c. $36,070

Explanation:

contribution margin ratio is the ratio of the contribution to sales of an entity for a given period.

contribution margin ratio= contribution/sales

where contribution is the difference between sales and the variable cost

Given;

sales = $137,000

contribution margin ratio = 61% = 0.61

0.61 = contribution/$137,000

contribution = $137,000 × 0.61

= $83,570

Net operating income is the difference between the contribution and the fixed cost.

Fixed cost = $47,500

Net operating income = $83,570 - $47,500

= $36,070

3 0
3 years ago
As the price level falls a. people will want to hold more money, so the interest rate rises. b. people will want to hold more mo
icang [17]

Answer:

The answer is C.

Explanation:

As the general price level decreases or falls, people will want to hold less money, so the interest rate falls.

As price level falls, value of money decreases because a unit of money will more of goods or services.

During this period people will want to hold less money because of the decrease in value and the excess money will be deposited in banks.

With this, the banks have more money to lend out and this will make the bank to reduce its Interest rate.

8 0
3 years ago
Which of these is a nonstore retailer?
Lady bird [3.3K]
A. Vending Machine is a nonstore retailer
7 0
3 years ago
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