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3 years ago

) Which protections exist under the Servicemembers Civil Relief Act? Check all that apply.

Business

1 answer:

nexus9112 [7]3 years ago

5 0

Answer:

1. Protection against default, evictions, foreclosures, and repossessions

2. Terminate residential and automobile leases due to PCS

Written and oral disclosure of terms

3. Reduce interest to 6% on certain loans and lines of credit obtained prior to entering active duty

Explanation:

The Servicemembers Civil Relief Act (SCRA) provides financial and legal protections for active-duty service members, as well as National Guard and reserve members, and their families. This protections are:

creditors reduction of interest rate on debts to 6% for liabilities obtained prior to entering active duty
Protection against default, evictions, foreclosures, and repossessions, preservice mortgage debt is valid if made during or within nine months after your service on active duty, unless carrying out a valid court order
Deferment of income tax before or during military service.
Protection against eviction
Protection against default judgments
Postponement of court proceedings if on duty
Termination of automobile, residential lease and phone service by delivering a written notice of termination.
Voting rights
Life insurance coverage

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Answer:

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Explanation:

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3 years ago

On May 3, 2020, Cheyenne Company consigned 90 freezers, costing $480 each, to Remmers Company. The cost of shipping the freezers

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Answer and Explanation:

The computation is shown below;

Inventory Unsold in Hand (90-45) 45

Unit cost Unsold (45 × 480) $21,600.00

Shipping cost on Unit Unsold (850 ÷ 90 × 45) $425.00

Value of Inventory (21600 + 425) $22,025.00

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Less: Cost

Unit cost Sold (21600+425) -$22,025.00

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3 years ago

Transactions for Sheridan Company for the month of May are presented below. Prepare journal entries for each of these transactio

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Answer:

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Service Revenue $530 (credit)

Explanation:

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3 years ago

A competitive market economy with low barriers to entry affords an entrepreneur with:.

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2 years ago

A corporation issued 5,000 shares of its $1 par value common stock in exchange for land (market value $30,000) and a building (m

olga2289 [7]

Answer:

The correct option is A,Debit Land and Building, $130,000; Credit Common Stock, $5,000; Credit Paid-in Capital in Excess of Par Value, Common Stock, $125,000.

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The sum of the two market values of both land and building is $130,000($100,000+$30,000),which would be debited to land and building account to show that the asset has increased due to new acquisition.

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3 years ago