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3 years ago

How does the use of credit influence businesses and the economy?

2 answers:

5 0

A credit company will look at your history with credit and either accept you or deny you based on your credit score

i hope this helps..;)

WITCHER [35]3 years ago

3 0

If applying for a thing like a loan, a bank will look at your credit history. Based on your score and how good your credit is they will either accept you or deny you. Keeping good credit is very important.

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Kirk Furniture factors $800000 of receivables to Sulu Factors, Inc. Sulu Factors assesses a 4% service charge on the amount of r

Simora [160]

Answer:

Explanation:

The journal entry is shown below:

Cash A/c Dr $768,000

Service Charge Expense A/c $32,000

To Accounts Receivable A/c $800,000

(Being the cash is received and the remaining balance is debited to the cash account )

The computation of the service charge expense is shown below:

= Accounts Receivable × service charge percentage

= $800,000 × 4%

= $32,000

6 0

3 years ago

Which of the following is a characteristic of the 529 plan that makes it different from the Coverdell Education Saving Account?

BARSIC [14]

A: There is no age limit for disbursement of funds

3 0

3 years ago

Read 2 more answers

Aiello, Inc. had the following inventory in fiscal 2016. The company uses the LIFO method of accounting for inventory. Beginning

quester [9]

Answer:

The correct answer is B. $1,800.00

Explanation:

LIFO Perpetual table is attached.

The table shows purchases, sales and balance of each period.

As the final inventory is 120 units, we suppose the sales of the year. Applying LIFO, our ending inventory cost is 120 units, each one at $15

So, total cost is $1800 (120* 15)

Download xlsx

8 0

3 years ago

During March, the production department of a process operations system completed and transferred to finished goods 35,000 units

kotegsom [21]

Answer:

Direct Labor Equivalent unit cost : $5,415463

Explanation:

$\left[\begin{array}{ccccc}\\ &$Units to be assigned costs:&&Equivalent Units&\\&&$Whole Units&Materials&Conversion\\&$Beginning&35000&35000&17500\\&$Started and completed&71000&71000&71000\\&$transferred&106000&106000&106000\\&$ending&39000&39000&11700\\&$Total units to be assigned costs&145000&145000&117700\\\end{array}\right]$

<u><em>Transferred units:</em></u>

beginning + started - ending = transferred

35,000 + 71,000 - 39,000 = 71,000

Labor cost: 581,000 + 56,400 = 637,400

equivalent units for conversion: 117,700

(trasnferrred + percentage of completion ending WIP)

<em><u>Equivalent unit cost:</u></em>

637,400 / 117,700 = 5,415463

7 0

3 years ago

In a business-to-business transaction, the seller offers the buyer a 2 percent discount for paying a bill early. Assuming the us

chubhunter [2.5K]

Assuming the user took advantage of this offer, the amount that would be discounted on a $10,000 invoice is: $200.

<h3>Discounted amount </h3>

Using this formula

Discounted amount =Discount rate× Invoice

Let plug in the formula

Discounted amount=2%×$10,000

Discounted amount=$200

Therefore assuming the user took advantage of this offer, the amount that would be discounted on a $10,000 invoice is: $200.

Learn more about Discounted amount here:brainly.com/question/12965533

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8 0

1 year ago