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3 years ago

The net income reported on the income statement for the current year was $220,000.

Business

1 answer:

sukhopar [10]3 years ago

7 0

Answer:

B) USD 317,000/-

Explanation:

By adding reported values and subtracting payable we will get a derivation like below:

= 220,000+50,000+10,000+30,000-1000+8000

= USD 317,000/-

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Mini Corporation factored, with recourse, $600,000 of accounts receivable with Huskie Financing. The agreement met all three con

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Answer:

Assets:

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Equity:

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Explanation:

First, we have to calculate Loss on Sale of Receivable

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Now, we show the effect of factoring:

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Assets Liabilities Equity

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Cash (600,000x92%) I552000 Recourse obligation I14400 Loss on sale of receivable D44400

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Hope this helps!

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3 years ago

Bob, a weak swimmer, ignored warning signs in a recreational swimming area and went into deep water. He soon tired and realized

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Answer: The correct answer is "b. lose because Kelly had no legal duty to rescue him."

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If the borrower has a previous foreclosure, can he use FHA to purchase a new home?

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the opportunity cost of going to a movie is: the total cash expenditure needed to go to the movie plus the value of your time.

What you forgo in order to get a thing is its opportunity cost. In this situation, the opportunity cost of attending a movie comprises both the overall cost of admission and the value of the time you forwent to see the film.

<h3>What is an example of opportunity cost?</h3>

Opportunity costs give decisions that appear simple context. Think about the price of graduate school. By adding up the price of tuition, board, books, and other educational expenses over the necessary number of years at your top-choice university, you might theoretically calculate this cost. Let's zoom in though. What other options are there? First of all, you shouldn't even think about paying for room and board because you'll need to do so regardless of whether you go graduate school (unless you're moving back into your mother's basement). Additionally, by choosing to go graduate school, you forgo the money you would have earned had you chosen to start working after receiving your bachelor's degree.

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