All categories

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.

You might be interested in

If an investor buys enough stocks, he or she can, through diversification, eliminate all of the market risk inherent in owning s

dimulka [17.4K]

Answer:

The given statement is True.

If an investor buys enough stocks, he or she can, through diversification, eliminate all of the market risk inherent in owning stocks, but as a general rule it will not be possible to eliminate all market risk.

5 0

3 years ago

gThe following data are available for Martin Solutions, Inc. Year 2 Year 1 Sales $1,139,600 $1,192,320 Beginning inventory 80,00

Vaselesa [24]

Answer and Explanation:

The computation is shown below;

For Year 1

Average inventory = (Beginning inventory + Ending inventory)÷ 2

= ($64,000 + $80,000) ÷ 2

= $72,000

Inventory turnover = Cost of goods sold ÷ Average inventory

= $606,000 ÷ 72,000

= 8.4 times

Days in inventory = 365 ÷ Inventory turnover ratio

= 365 ÷ 8.4

= 43.5 days

For Year 2

Average inventory = (Beginning inventory + Ending inventory) ÷ 2

= ($80,000 + $72,000) ÷ 2

= $76,000

Inventory turnover = Cost of goods sold ÷ Average inventory

= $500,800 ÷ 76,000

= 6.6 times

Days in inventory = 365 ÷ Inventory turnover ratio

= 365 ÷ 6.6

= 55.3 days

3 0

3 years ago

Lewis Company traded machinery with a book value of $950,000 and a fair value of $900,000. It received in exchange from Timmons

Komok [63]

Answer:

Lewis should recognize a gain on the exchane of $13,636

Explanation:

In order to calculate the amount of gain or loss should Lewis recognize on the exchange, first we have to determine the amount of gain with the followig formula:

Gain=Total value of the machine received-Book value of machine exchanged

=(cash received+fair value of machine received)- $950,000

=($100,000+$1,000,000)-$950,000

=$ 150,000

Next, In order to calculate the amount of gain or loss should Lewis recognize on the exchange we have to use the following formula:

recognize gain or loss=( cash received )× gain

cash received+fair value of equipment received

= ( $ 100,000 )× 150,000

$100,000+$1,000,000

=$13,636

Lewis should recognize a gain on the exchane of $13,636

8 0

3 years ago

On January 1, Year 1, Marino Moving Company paid $48,000 cash to purchase a truck. The truck was expected to have a four year us

Ede4ka [16]

Answer:

Account Titles Debit Credit

Depreciation Expense 10,000

Accumulated Depreciation 10,000

Explanation:

Depreciation is the actual decrease in the value of an asset. The asset is depreciated on its useful life on by a fixed percentage of carrying value.

Original Cost of Truck = $48,000

Estimated useful Life = 4 years

Estimated Salvage Value = $8,000

Formula for straight line depreciation is

Depreciation per year =( Cost of Asset - salvage value ) / useful life

Depreciation per year = ( $48,000 - $8,000 ) / 4 years

Depreciation per year = 10,000 per year

$10,000 will be charged every year for 4 years.

8 0

3 years ago

What are the items that can result in higher interest earned

Eduardwww [97]

A higher interest rate and/or a higher balance will result in higher interest earned.

6 0

3 years ago