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2 years ago

Describe an example of an asset that your company could link to a business loan as collateral. (2-4 sentences. 2.0 points)

Business

1 answer:

Crazy boy [7]2 years ago

8 0

Your company could use your car as collateral. and they can also use your home (i think). or your paycheck

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1 year ago

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On January 1, 2020, Meeks Corporation issued $5,000,000, 10-year, 4% bonds at 102. Interest is payable annually on January 1. Th

KonstantinChe [14]

Answer:

d. Cash........................................................................................ 5,100,000

Bonds Payable............................................................... 5,000,000

Premium on Bonds Payable .......................................... 100,000

Explanation:

The Journal entry is shown below:-

Cash Dr, $5,100,000 ($5,000,000 × 1.02)

To Bonds payable $5,000,000

To Premium on Bonds payable $100,000

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Here we debited the cash as it increases the assets and we credited the bonds payable and premium on bonds payable as it also increases the liabilities.

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2 years ago

Many corporations allow CEOs to use their firm's corporate jet for personal travel. The Internal Revenue Service (IRS) require

Margaret [11]

Answer:

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Explanation:

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2 years ago

What is the difference between income and cash flow?

Deffense [45]

Its B. or C.
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3 years ago

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Zina [86]

Answer:

Explanation:

The journal entry is shown below:

Amortization expense - Patent A/c Dr $32,380

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The computation is shown below"

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For the intangible assets, the amortization expense is considered,not the depreciation expense and the same is to be taken.

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2 years ago