Answer:
46850 is the correct answer
Explanation:
Employee salaries are limited to $12.850 per employee.
Total liabilities with priority = Income Taxes +Salaries Payable+Administrative expenses for liquidation
=10.000+12.850+4.000+20.000= 46.850
The borrower may be awarded real losses, legal expenses, and, in extreme situations, the credit may be extended.
<h3>What is foreclosure consultant?</h3>
A person who stops the sale of foreclosure is called as foreclosure consultant. He, directly or indirectly, makes a solicitation, representation, or offer to an owner to perform for the act of foreclosure.
A borrower filed a lawsuit against a foreclosure consultant for breaking the mortgage foreclosure consultant legislation. The borrower may be awarded actual damages, legal charges, and credit may be extended in exceptional cases.
Therefore, it can be concluded that credit expansion can be done in some of the cases for violating the mortgage.
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Answer:
Option D Allowance for noncollectable Accounts.
Explanation:
The bad debt recovery recording is a two step process.
Step 1 Reverse the entry of bad debt with the amount received
Dr Trade Receivable $40,000
Cr Bad debts $40,000
Step 2 Now record the receipt of amount as a reduction in trade receivable and increase in cash asset.
Dr Cash $40,000
Cr Trade Receivables $40,000
The only account unconsidered here was Allowance for the noncollectable account.
selling goods only at certain predetermined prices that reflect definite price breaks is called Price lining
Price lining, also known as product line pricing, is a marketing tactic where a company charges for its products in accordance with its quality, features, or other characteristics to set them apart from competing ones.
Price line, to put it simply, is the practice of placing comparable products in various price ranges, each of which differs significantly in terms of the characteristics or qualities it offers. These brackets typically have lower starting prices and higher price points.
Despite having "price" in its name, price lining is a marketing tactic. The major goal of this strategy is to increase sales and audience size by making the offering more appealing to a wider range of consumers.
Apple, a company that makes smartphones, is a good illustration of price lining in action. Apple offers its iPhone lineup in a range of price points, with each model differing mainly in the small number of extra features that are added to the more expensive ones. Instead of solely selling expensive iPhones, Apple now offers a variety of models to appeal to customers with varying levels of purchasing power, which helps them grow sales.
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Answer: True
Explanation: Cumulative preferred shares of a company carries some special rights as per law. The holders of such stock must be paid any current or prior period accrued dividends before any payment of dividend to common shareholders. The dividends of such shareholders is fixed in nature.
Also in the event of liquidation they will be preferred before any common stock holders.
Thus, the given statement is true.
