Answer
The answer and procedures of the exercise are attached in the following archives.
Step-by-step explanation:
You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.
Answer:
C) I, II, and III only.
- I. May demand payment of the full amount immediately from the sureties when the corporation defaults on the loan.
- II. May demand payment of the full amount immediately from the sureties even if Reuter does not attempt to recover any amount from the collateral.
- III. May attempt to recover up to $200,000 from the collateral and the remainder from the sureties, even if the remainder is more than $300,000.
Explanation:
The bank has several options in this case, depending on the financial position and net worth of the sureties and the corporation. It can decide to collect all the debt directly from them, or collect part of the debt through the collateral property, or it can go after the assets of the corporation, or any type of combination. In this case the bank has three options from which it can collect the debt and it is up to them to decide how they proceed.
Answer:
The answer is $18,810
Explanation:
Cost of goods sold equal:
Beginning or opening inventory plus purchases minus ending or closing inventory.
Monte Vista returned some inventories and also took advantage of discount. So this will reduce the cost of total purchases for the quarter.
Total purchase = new purchases minus purchase returns minus any discount enjoyed.
So total purchase is now:
$10,000 - $1,350 - $340
=$8,310
Therefore cost of goods sold is:
$44,000 + $8,310 - $33,500
=$18,810
Had to look for the options and here is my answer.
What happens when all of the capacity on a product line is being sold is that, the inventory from that line will be sold at HALF OF THE PRICE OR VALUE AS IT IS REFLECTED ON THE RECORDS OF ACCOUNTING DEPARTMENT. Hope this answer helps.
