1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
guapka [62]
3 years ago
7

Maria is the sole proprietor of an antique store that she has operated at the same location for the past 16 years. The store ren

ts the space in which it is located but does own all of the inventory and fixtures. The store has an outstanding loan with the local bank but no other debt obligations. There are no specific loan covenants or assets pledged as security for the loan. Due to a sudden and unexpected downturn in the economy, the store is unable to generate sufficient funds to pay the loan payments due to the bank. Which of the following options does the bank have to collect the money it is owed?
I. Sell the inventory and use the cash raised to apply to the debt
II. Sell the store fixtures and use the cash raised to apply to the debt
III. Take funds from Maria‘s personal account at the bank to pay the store‘s debt
IV. Sell any assets Maria personally owns and apply the proceeds to the store‘s debt Select one:
a. I only
b. III only
c. I and II only
d. I, II, and III only
e. I, II, III, and IV
Business
1 answer:
My name is Ann [436]3 years ago
5 0

Answer:

e. I, II, III, and IV

Explanation:

I. Sell the inventory and use the cash raised to apply to the debt

II. Sell the store fixtures and use the cash raised to apply to the debt

III. Take funds from Maria‘s personal account at the bank to pay the store‘s debt

IV. Sell any assets Maria personally owns and apply the proceeds to the store‘s debt

You might be interested in
A price maker is
Allisa [31]
D. a firm that has some control over the price of the product it sells
4 0
2 years ago
Read 2 more answers
Goods Guys Foods established a trust fund that provides $125,000 in scholarships each year for needy students. The trust fund ea
antiseptic1488 [7]

Answer:

$1,724.138

Explanation:

Given:

Payment received each year = $125,000

Rate of return = 7.25 % = 0.0725

Present value = ?

Computation of Present value:

Present value = Payment received each year / Rate of return

= $125,000 / 0.0725

= $1724137.93

Present value = $1724137.93

Present value = $1,724,138 (approx)

Therefore, firm have to contribute  $1,724.138

5 0
3 years ago
"What specific, direct benefits can a business get from acting in an environmentally responsible manner?"
Ksivusya [100]

Explanation:

It is correct to say that we live in a globalized world, where there is a lot of competition in the business market and where the flow of information occurs very quickly. Therefore, there is a greater demand from society for companies to be active promoters of practices that will lead to the development of society and the maintenance of scarce natural resources.

Companies that act in an environmentally responsible manner will obtain the benefits of certifying to their stakeholders that they are active agents of transformation and prevention of the environment, which can be accomplished through environmental certifications, environmental management systems, compliance with environmental legislation, etc. , which ensures that companies have a better positioning in the market, attracts more consumers and investors, in addition to improving production processes with environmental management systems, which promotes continuous improvement in the company, reducing costs and waste.

3 0
3 years ago
Concord Corporation has 8,800 shares of common stock outstanding. It declares a $3 per share cash dividend on November 1 to stoc
sasho [114]

Answer:

Declaration date:

Dr retained earnings $26400

Cr dividends payable          $26400

Payment date:

Dr dividends payable $26400

Cr Cash                                                  $26400

Explanation:

Total dividend declared is the number of shares multiplied by cash dividend per share

total dividend=$3*8,800=$26400

On the record date no entries are required since record date, is just about verifying the bonafide shareholders.

On declaration date,dividends payable would be credited with $26,400 while retained earnings is debited.

On payment date,dividends payable is debited and cash credited

6 0
3 years ago
Which of the following is an effective strategy for personal saving?
trasher [3.6K]

The statement that is an effective strategy for personal saving is; Save a certain percentage of each paycheck and deposit it directly in a savings account

<h3>What is personal saving?</h3>

Personal saving can be defined as the ability of a person to save their money. Saving this money will enables them to have something to fall back to incase of unforeseen or unexpected circumstance.

The effective strategy for personal saving a person is expected to follow is for the person  to save a  percentage of each of their salary or  paycheck and deposit the money directly into their savings account.

Therefore the statement that is an effective strategy for personal saving is; Save a certain percentage of each paycheck and deposit it directly in a savings account

Learn more about personal saving here:brainly.com/question/15279000

#SPJ1

6 0
1 year ago
Other questions:
  • 1The main reason that U.S. currency cannot be turned in to the government in exchange for a tangible asset such as gold is that:
    7·1 answer
  • Which of the following types of child care is most closely regulated by state and county government? A. Child care center B. Fam
    5·2 answers
  • Brad operates a storage business on the accrual method. On July 1 Brad paid $48,000 for rent on his storage warehouse and $18,00
    10·1 answer
  • Which is not something you should look for in a saving account?
    9·1 answer
  • What's the best definition of financial literacy? A. The ability to find, evaluate, utilize, share, and create financial content
    15·1 answer
  • On February 1, 2019, the balance of the retained earnings account of Blue Power Corporation was $315,000. Revenues for February
    9·1 answer
  • Chris purchased a new piece of equipment to be used in its new facility. The $410,000 piece of equipment was purchased with a $6
    10·1 answer
  • Trey Morgan is an employee who is paid monthly. For the month of January of the current year, he earned a total of $4,540. The F
    9·1 answer
  • Tucker Electronic System's current balance sheet shows total common equity of $3,125,000. The company has 100,000 shares of stoc
    11·1 answer
  • How you will differentiate the company from
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!