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3 years ago

Do lenders always accept applications for credit?

1 answer:

6 0

No they don't

Lenders have several thing that they need to observe before accepting credit applications, such as :

- Your Wage
- Your credibility
- Your health
- Your asset assurance
- Your total debt
- Etc

hope this helps

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For each of the following situations, identify the type of form to be filed with the SEC for disclosure purposes (2 points): (A)

oee [108]

Answer:

1. Form 8-K : A unique or significant happening.

2. Form 10-K: Annual information required by Regulation S-X.

3. Form 8-K: Changes in control of the registrant.

4. Form 10-Q: Interim financial statements.

5. Not required: Fourth quarter income statement.

6. Form 8-K: Bankruptcy.

7. Form 10-K: Annual information required by Regulation S-K.

8. Form 10-Q: Income statement for the current quarter, year-to-date, and comparative periods in the previous year.

9. Not required: Changes in bookkeeping staff.

10. Form 8-K: Changes in the registrant's independent auditor.

Explanation:

The SEC, an acronym for Securities and Exchange Commission was created under the Securities Exchange Act of 1934. The Act empowered the SEC to require registration of securities, security exchanges, and reporting by publicly owned firms.

Some of the forms to be filled as required by the United States of America, Securities and Exchange Commission (SEC) includes;

1. Form 10-K.

2. Form 10-Q.

3. Form 8-K.

5 0

2 years ago

If bonds for Crayon Corporation, with a face value of $150,000, are converted into common stock when the carrying value of the b

Llana [10]

Answer:

Explanation:

the face value of the bonds will the value at which bonds payable account enter the accounting. Then, there is a discount which decrease the net value of the bonds:

Bonds Payable 150,000 credit

Discount on bonds 15,000 debit

When the bonds are converted, we will write-off these account against common stock and additional paid-in

To wirte-off the account we need to post them in the other side so we got:

Bonds payable debit 150,000 debit

Discount on bonds 15,000 credit

Common Stock xx credit

Additional paid.in xx credit

These makes option C correct

5 0

3 years ago

Lisa is choosing between three alternatives: a) working at her job that pays 60 dollars; b) writing a term paper which she value

Mkey [24]

Answer:

c. 80 dollars.

Explanation:

Opportunity cost represents the next best alternative missed. It is the forfeited benefits arising from choosing one option over the others. Opportunity cost is expressed as a value or the worth of the forgone alternative.

Lisa's opportunity cost is $ 80. She has valued going out with her friend at $ 80, which is the highest value amongst her three choices. Since she can not engage in all the three activities at the same time, the next best alternative to writing her exam is the opportunity cost.

7 0

3 years ago

Two brothers wish to open an account to trade stocks, with one brother depositing $100,000, and the other brother depositing $20

Lostsunrise [7]

Answer:

The account should be opened as a Joint account with tenancy in common. Option C.

Explanation: This type of account is one that is owned by at least two people and in which there is no rights of survivorship.

In this type of account, the members do not want their investments to go to other members of the joint account upon their death, but they specify in a will how the investment will be distributed to their beneficiaries.

Joint account with tenancy in common can hold an unequal amount of investment among members, but they still have equal rights to the account.

4 0

3 years ago

Cullumber Company had a beginning inventory on January 1 of 75 units of Product 4-18-15 at a cost of $18 per unit. During the ye

lora16 [44]

Answer:

Weighted average:

EI: 2,290

COGS: 9, 160

LIFO

EI: 2,400

COGS: 9,050

FIFO

EI: 3,000

COGS: 8,450

Explanation:

beginning 75 units at $ 18 = $ 1,350

Mar. 15 200 units at $21 = $ 4,200

Sept. 4 175 units at $24 = $ 1,800

July 20 125 units at $22 = $ 2,750

Dec. 2 50 units at $27 = $ 1,350

total units: 625 units cost of goods available: 11,450

average cost: 11,450/625 = $ 18.32 per unit

inventory units: 625 - 500 = 125 units

Weighted average:

EI: 125 x $18.32 = 2,290

COGS: 500 x $18.32 = 9, 160

500 units were sold

LIFO:

last units are sold while frist are inventory

ending inventory

beginning 75 units at $ 18 = $ 1,350

Mar. 15 50 units at $21 = $<u> 1,050 </u>

Total 2,400

COGS: available - ending inventory

11,450 - 2,400 = 9,050

FIFO

first units are sold while last are inventory

Dec. 2 50 units at $27 = $ 1,350

July 20 75 units at $22 = $ <u>1,650 </u>

Total 3,000

COGS: available - ending inventory

11,450 - 3,000 = 8,450

7 0

2 years ago