Snellen chart is an eye chart that can be used to measure visual acuity by determining the level of visual detail that a person can discriminate. The newborn's vision is estimated to be 20/200 on the Snellen eye examination chart. This means the new born can see at 20 feet what a normal adult can see at 200 feet.
Answer:
All options are applicable
Explanation:
Upon the exchange of the asset, the cost of the old asset needs to be removed from the asset account by crediting the old asset account with $90,000
On the other hand, the market value of the new asset needs to be debited to new asset account i.e$50,000 and also the accumulated depreciation must debited to accumulated depreciation account.
All in all, the difference between the credit and the debit entries is balancing credit as shown below
Dr New asset $50,000
Dr Accumulated depreciation $70,000
Cr Old asset $90,000
Cr gain on asset exchange(bal figure) $30,000
Answer: 30%
Explanation:
We should note that debt payments-to-income ratio is calculated as:
= Debt payment / Net income
= 762 / 2540
= 0.3 or 30%
Therefore, the debt payments to income ratio is 30%
Answer and Explanation:
The matching is as follows:
1. Dividends = A. Stockholders' Equity
2. Prepaid Insurance = D. Assets
3. Unearned Rent = E. Liabilities
4. Fees Earned = B. Revenue
5. Patents = D. Assets
In this way it should be matched
Like the dividend is come under equity so it is shown under stockholder equity
likewise it is applied for the other items
Answer:
Because lenders are sometimes reluctant to lend large sums of money simply on the borrower's promise to repay, many lenders take a SECURITY INTEREST in the property purchased or some other property of the debtor. The property in which the security interest is taken is called COLLATERAL. If the debtor does not pay the debt, the creditor can REPOSSESS on and recover the collateral.
Explanation:
WHAT IS A SECURITY INTEREST?
A security interest is when the borrower or debtor gives a right under the law to the creditor which says that if the debtor default the payment on the property the creditor has the legal right to do repossession on the property or use that property in a way that will cover for the defaulted payments.
WHAT IS THE COLLATERAL?
Collateral is that property or asset that the debtor has gave a right on to the creditor to reposses if they fail to pay in time. The lender will then sell the collateral in order to cover the loan not paid by the borrower.
REPOSSESSION
This is the actual process of retrieving the assets that have been given as collateral .
