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3 years ago

Which term describes a person's previous pattern of borrowing and repaying? A. credit practice

Business

2 answers:

Norma-Jean [14]3 years ago

7 0

Answer:

C. credit history

Explanation:

Which term describes a person's previous pattern of borrowing and repaying? A. credit practice

B. credit pattern

C. credit history

Credit first and foremost is the legal document or decision between a borrower and lender for a borrower to borrow certain amount of money to be repaid on a certain day.

Credit history from the name , shows how borrowers repay debts. It shows the date. When a persons pays up debt owed. He or she has a good credit history. If otherwise, he/she doesnt have good credit history

Natali5045456 [20]3 years ago

5 0

I believe the answer is

C. credit history

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What is an ethical dilemma

Anna007 [38]

An ethical dilemma is a complex situation that often involves an apparent mental conflict between moral imperatives, in which to obey one would result in transgressing another.

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3 years ago

On November 1 of year 0, Jaxon borrowed $38,000 from Bucksnort Savings and Loan for use in his business. In December, Jaxon paid

andreev551 [17]

Answer:

$570

Explanation:

The computation of the interest deduction is shown below:

= Interest paid × number of months ÷ (total number of months in a year)

= $3,420 × 2 months ÷ 12 months

= $570

The interest which is deducted in year 0 under the cash method of accounting is $570

And, the two months is calculated from the November 1 to December 31

We simply apply the interest paid formula.

4 0

3 years ago

Charco purchased a franchise from Burger Master on January 1, 2021, for $240,000. The franchise agreement allows Charco to sell

denis-greek [22]

Answer:

$40,000.

Explanation:

Given that Charco purchased a franchise from Burger Master on January 1, 2021, for $240,000

Useful life of Franchise = 6 years

Cost = $240,000

Yearly amortization expense = cost/useful life

= $240,000/6

= $40,000

The amortization expense for the year ended December 31, 2021 is $40,000. This is the yearly charge to p/l for the Franchise.

3 0

3 years ago

Birch Manufacturers has provided the following information regarding the two products that it sells: Jet Boats Ski Boats Sales

dezoksy [38]

Answer:

A. 58 jet boats and 23 ski boats

Explanation:

Break even point is the level of activity at which a firm neither makes a profit nor a loss.

First determine the sales mix :

Note : Birch sells five jet boats for every two ski boats sold

thus the mix is 5:2

Then calculate the contribution per batch

Jet Boats = $8,000 - $6,000 =$2,000

Ski Boats = $24,000 - $ 16,000 = $8,000

Total Contribution per batch = ((5×$2,000) + (2 ×$8,000))

= $ 26,000

Calculate the batch contribution

Break - even Point = Fixed Cost / Contribution per batch

= $300,000 / ((5×$2,000) + (2 ×$8,000))

= $300,000 / $ 26,000

= 11.54

Use the sales mix to determine the units to break even in the batch

Jet Boats = 11.54 × 5

= 57,7

= 58

Ski Boats = 11.54 × 2

= 23,08

= 23

Thus the units sold to break even would be : 58 jet boats and 23 ski boats

6 0

3 years ago

Barnes Company uses a job order cost system. The following data summarize the operations related ...

Ipatiy [6.2K]

Answer:

Journal Entries

October 1

Materials Dr $315,500

Accounts payable Cr $315,500

October 2

Work in process Dr $281,950

Factory overhead Dr $8,150

Materials Cr $290,100

October 31

Work in process Dr $455,300

Factory overhead Dr $34,200

Wages payable Cr $489,500

October 31

Factory overhead Dr $600,000

Selling expense Dr $150,000

Administrative expense Dr $100,000

Accounts payable Cr $850,000

October 31

Factory overhead Dr $18,000

Selling expense Dr $6,000

Administrative expense Dr $5,000

Prepaid expense Cr $29,000

October 31

Depreciation expense - Office Building Dr $30,000

Depreciation expense - Office Equipment Dr $7,500

Factory overhead Dr $60,000

Accumulated depreciation- Buildings and equipment Cr $97,500

October 31

Work in process Dr $711,600

Factory overhead Cr $711,600

October 31

Finished goods $1,425,000

Work in process Cr $1,425,000

October 31

Cost of goods Dr $1,380,000

Finished goods Cr $1,380,000

8 0

3 years ago