What is the FIRST action you should take if you suspect there has been a fraudulent charge on your credit card?

Joseph wants to take out a large loan. He has always paid his bills on time and has a fantastic credit score. He has been with h

oksano4ka [1.4K]

Joseph is probably denied credit due to his bad character, which is an essential element of the Three C's of Credit.

<h3>What are the Three C's of Credit?</h3>

To determine the credibility of a person for grant of a loan or an advance, a lender takes into consideration the Three C's of credit, which are as follows,

Character
Capacity
Capital or Collateral.

Collaterals or Capital help in determination of security of lender from borrower, in case when the borrower is unable to repay the credit. Capacity determines the ability to repay the credit.

Character, on the other hand, helps in determination whether the customer or the borrower's behavior, and the qualities of his or her character in the society.

Hence, the three C's of credit are explained above.

Learn more about the Three C's of Credit here:

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7 0

2 years ago

Suppose that all 75 employees of a company received a raise of $150 per month? How would this affect the mean salary of all empl

Svetlanka [38]

Answer:

Mean Salary of all employees will be increase by $150.

Explanation:

$150 raise of all 75 employees will be averaged and result in the $150 increase in the mean of all employees salary.

Suppose:

The Sum of all Employees salary = $1,500,000

The Mean of all Employees salary = $100,000 / 75

The Mean of all Employees salary = $20,000

The Sum of all Employees salary after raise = $1,500,000 + ( 75 x 150 )

The Sum of all Employees salary after raise = $1,511,250

The Mean of all Employees salary after raise = $1,511,250 / 75

The Mean of all Employees salary after raise = $20,150

Hence Proved that Mean Salary of all employees will be increase by $150.

7 0

3 years ago

During 2021, its first year of operations, Pave Construction provides services on account of $152,000. By the end of 2021, cash

Softa [21]

Answer:

1. Record the adjusting entry for uncollectible accounts on December 31, 2021.

Dr Bad Debt Expense $ 13.800

Cr Allowance for Uncollectible Accounts $ 13.800

2-a. Record the write-off of accounts receivable in 2022.

Dr Allowance for Uncollectible Accounts $ 12.420

Cr Accounts Receivable $ 12.420

2-b. Calculate the balance of Allowance for Uncollectible Accounts at the end of 2022

Final Balance 2022

Cr Allowance for Uncollectible Accounts $ 1.380

3-a. Assume the same facts as above but assume actual write-offs in 2022 were $18,630. Record the write-off of accounts receivable in 2022.

Dr Allowance for Uncollectible Accounts $ 18.630

Cr Accounts Receivable $ 18.630

3-b. Assume the same facts as above but assume actual write-offs in 2022 were $18,630. Calculate the balance of Allowance for Uncollectible Accounts at the end of 2022

Final Balance 2022

Cr Allowance for Uncollectible Accounts $ 7.176

Explanation:

Initial Balance

Dr Accounts Receivable $ 152.000

Cash collections on these accounts total $106,000

Dr CASH $ 106.000

Cr Accounts Receivable $ 106.000

New Balance

Dr Accounts Receivable $ 46.000

Pave estimates that 30% of the uncollected accounts will be uncollectible.

Dr Bad Debt Expense $ 13.800

Cr Allowance for Uncollectible Accounts $ 13.800

FINAL BALANCE 2021

Dr Accounts Receivable $ 46.000

Cr Allowance for Uncollectible Accounts $ 13.800

In 2022, the company writes off uncollectible accounts of $12,420

Dr Allowance for Uncollectible Accounts $ 12.420

Cr Accounts Receivable $ 12.420

Final Balance 2022

Dr Accounts Receivable $ 33.580

Cr Allowance for Uncollectible Accounts $ 1.380

2-b. Calculate the balance of Allowance for Uncollectible Accounts at the end of 2022

Dr Bad Debt Expense $ 10.074

Cr Allowance for Uncollectible Accounts $ 10.074

a. Assume the same facts as above but assume actual write-offs in 2022 were $18,630.

Record the write-off of accounts receivable in 2022.

Dr Allowance for Uncollectible Accounts $ 18.630

Cr Accounts Receivable $ 18.630

3-b. Assume the same facts as above but assume actual write-offs in 2022 were $18,630.

Calculate the balance of Allowance for Uncollectible Accounts at the end of 2022

Final Balance 2022

Dr Accounts Receivable $ 14.950

Cr Allowance for Uncollectible Accounts $ 7.176

6 0

3 years ago

Copyright law protects the expression of

rjkz [21]

Answer:

Copyright protection generally lasts for 70 years and protects the original expression of an idea, whether literary, artistic, commercial or otherwise. It is used to protect original works of authorship that are fixed in a tangible medium of expression.

Explanation:

5 0

3 years ago

Match each example below to the correct cost type direct materials $25 per unit

balandron [24]

Answer:

We can divide costs into three categories:

fixed.- do not change as total production outcome changes
variable.- changes proportionally to total production output
mixed.- part fixed, part variable

Explanation:

fixed: they stay the same regardless of total output

depreciation. $4,500 per month
property taxes, $12,000 per year

variable: the more units are produced, the higher they are

direct materials, $25 per unit
shipping costs, $15 per unit

mixed: a part is fixed per month, while another part increases as total output increases.

water and sewer, $50 per month plus $0.10 per gallon
sales rep's pay, $1,000 per month plus 10% sales commission

5 0

4 years ago

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