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satela [25.4K]
4 years ago
8

Drew bought a computer for personal use from Hale Corp. for $3,000. Drew paid $2,000 in cash and signed a security agreement for

the balance. Hale properly filed the security agreement. Drew defaulted in paying the balance of the purchase price. Hale asked Drew to pay the balance. When Drew refused, Hale peacefully repossessed the computer. Under the UCC Secured Transactions Article, which of the following remedies will Hale have.
Business
1 answer:
Svet_ta [14]4 years ago
6 0

Answer:

Obtain a deficiency judgment against Drew for the amount owed.

Explanation:

Even though Hale repossessed the computer, it must still seek a deficiency judgment against Drew in order to recover the money owed. If Drew cannot pay his debt, he has the right to request Hale to sell the computer in order for Hale to recover the money owed.  

Repossession is one way that a lender can use to reclaim property that was put as collateral for a loan. For example, if you do not pay your car loan, the lender can simply repossess your car by taking it away without a court order. But the debtor still had the right to try to reclaim the property by paying the debt or agreeing on some type of payment procedure.

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Jesse and Tim form a partnership by combining the assets of their separate businesses. Jesse contributes accounts receivable wit
Murljashka [212]

Answer:

The Journal entries with their narrations of Jesse’s investment and Tim’s investment is shown below:-

Explanation:

a. Jesse’s investment

Accounts Receivable Dr,                      $41,600

($45,000 - $3,400)

Agreed price of equipment Dr,             $68,200

      To allowance for doubtful debts                 $1,600

       To capital account                                       $108,200

(Being Jesse's investment is recorded)

b. Tim’s investment

Cash Dr,                                           $22,000

Agreed price of inventory Dr,             $49,000

           To Tim capital                                         $71,000

(Being Tim's investment is recorded)

6 0
4 years ago
Graham has accepted an offer to do graduate work in the chemistry department at State University. The chemistry department offer
baherus [9]

Answer: $3500

Explanation:

In the general rule section 117(d)(1), it should be noted that when calculating the gross income, the reduction in tuition isn't included.

Based on the above reasoning, Graham's gross income will not include the $5,000 tuition reduction that was offered by the chemistry department.

Therefore, the amount that Graham must include in his gross income will be $3500.

6 0
3 years ago
The driver of any vehicle about to enter a freeway or highway must yield the __________ to all traffic.
Alla [95]

Right of way is the correct answer

8 0
3 years ago
At the beginning of a recession in 2018, unemployment begins rising. Unemployment increases from 4.6% to 7.9% in 4 months. What
Sergeeva-Olga [200]

Answer:

Should be done: a counter cyclical or a growth-oriented  fiscal policy ,deficit spending and stabilize the aggregate demand.

Explanation:

Keynesian economy is a macroeconomic theory based on the views of the 20th century British economist John Maynard Keynes. Keynes' economy advocates a mixed economy where the private sector is predominant but the state and the public sector play a major role. According to the Keynesian theory, the sum of all the micro-economic behaviors shown by all individuals and businesses results in inefficiency and the economy operates at a level below its potential output and growth. When total demand for products is insufficient, the economy enters a crisis and unnecessary unemployment arises due to defensive behavior of the producers. In such cases, the government may pursue policies to increase aggregate demand, and as a result may accelerate economic activities and reduce unemployment. Most Keynesian propose policies to stabilize the business cycle. For example, if the unemployment level is too high, the state can pursue a growth-oriented monetary policy.

Keynes was thinking of reviving the economy with low interest and state investments as a solution to the Great Depression. The government increases investment income and consequently consumption, resulting in more production and investment, resulting in increased consumption again. The first economic stimulus investment triggers a series of events and the subsequent investment provides a much tougher economic efficiency. According to Keynes, money supply is provided by monetary authority (eg central bank) and monetary policy affects prices. When interest rates fall below this normal rate, investors avoid buying bonds and prefer to hold cash in anticipation of higher rates. When interest rates are above this normal rate, they tend to buy bonds with the expectation that they will fall. Therefore, it can be said that there is a negative relationship between money demand and interest rate.

8 0
4 years ago
Suppose that both wheat and corn have an income elasticity of 0.1.
Vesna [10]
<span>The demand for wheat would increase by 0.2 percent. Income elasticity indicates how much demand for something increases or decreases when income goes up or down. It is the calculated as the ratio of the percentage change in quantity demanded to the percentage change in income.</span>
4 0
4 years ago
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