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3 years ago

What is a credit limit?

1 answer:

5 0

Credit limit refers to the maximum amount of credit a financial institution extends to a client through a line of credit as well as the maximum amount a credit card company allows a borrower to spend on a single card.

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The charter of Vista West Corporation specifies that it is authorized to issue 300,000 shares of common stock. Since the company

Romashka-Z-Leto [24]

Answer:

1. Authorized shares = 300,000 shares

2. Issued shares = 160,000 shares

3. Outstanding shares

= Issued shares- Shares repurchased

= 160,000 - 25,000

= 135,000 shares

Explanation:

Authorized shares are shares that a firm is allowed by law to issue to the public.

Issued shares are shares that a company offers to the public for subscription.

Outstanding shares are shares remaining after the share repurchase.

6 0

3 years ago

A producer is someone who _____________. A. Makes a commodity available for sA producer is someone who _____________. A. Makes a

Mekhanik [1.2K]

A producer is someone who m<span>akes a commodity available for sale or exchange.</span>

5 0

3 years ago

Amount Number of units sold 11,000 Selling price per unit $ 16 Variable selling expense per unit $ 1 Variable administrative exp

german

Traditional income statement : Net operating income $47,000

Contribution income statement : Net operating income $25,000

Traditional Income Statement

Sales (11,000 x $16) $176,000

Cost of goods sold

(9,000 + 87,000 - 25,000) ($71,000)

Gross Margin 105,000

Selling and administrative expenses:

Selling expense

(11,000 x 1) + 22,000 $33,000

Administrative expense

(11,000 x 1) + 14,000 $25000

Net operating income $47,000

Contribution format income statement

Sales $176,000

Variable expenses:

Cost of goods sold 71,000

Selling expense 11,000

Administrative expense 11,000 ($93,000)

Contribution Margin $83,000

Fixed expenses:

Selling expense 33,000

Administrative expense 25,000 (58,000)

Net operating income $25,000

Learn more about preparation of income statement here : brainly.com/question/24498019

3 0

2 years ago

On March 14, Teal Co. accepted a 120-day, 6% note in the amount of $10,000 from AZC Co., a customer. On the due date of the note

Y_Kistochka [10]

Answer:a credit to Interest revenue for $200

Explanation:

Interest = Principal x rate x time ( period )

= $10,000 x 6% x 120/360

=$200

Account titles and explanation Debit Credit

Cash $10,200

Note receivable $10,000

Interest revenue $200

Therefore, The journal entry that Teal would make to record payment of this note would include a credit to Interest revenue for $200

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2 years ago

The use of accelerated depreciation:____.a. discourages investment in plant and equipment. b. increases expenses and decreases c

Elena-2011 [213]

Answer:

c. initially decreases the firm's taxes

Explanation:

Accelerated depreciation provides for a higher rate of capital allowance on the assets that is New and Unused and brought in the business for use in manufacturing for the first time. This allowance then lowers for the other years. The purpose of this is to encourage investment in plant and equipment as it initially decreases the firm's taxes.

8 0

3 years ago