Jonestown Community Bank refuses to lend money to potential homeowners trying to purchase property in the predominantly Asian neighborhood on the west end of town. This practice is: redlining. This is further explained below.
<h3>What is redlining?</h3>
Generally, Mortgage lenders' and insurers' unlawful redlining is a kind of discrimination that affects whole neighborhoods.
In conclusion, The mostly Asian section of town is on the western edge of town, but the Jonestown Community Bank won't lend money to anybody looking to buy a house there. Redlining is the term for this tactic.
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Answer:
Net changes to the accounts:
1. Service Revenue increases by $50,000.
2. The Cash account will increase by $10,000.
3. The Accounts Receivable will increase by $40,000
4. Inventory will reduce by $30,000
Explanation:
Firm A's net changes and the accounts impacted by these transactions are an increase or a reduction of resources. The overall net change of business transactions is the net income or loss generated from the venture.
Answer:
Ending Inventory $ 64,000
Explanation:
To define the final inventory of the company it's necessary to find the cost of good of the period.
As the company had a 43% of gross profit, it means that for every dollar of sales we have 0,43 dollar of Gross Profit, with this value is possible to know the total cost of the goods sold during the period, that it's the difference between Sales Revenue and Gross Profit.
Total Sales Revenue had to be the net value after returns and discounts as it's detailed.
Income Statement
Sales revenue $ 300,000
Cost of goods sold -$ 171,000
Gross Profit $ 129,000 43%
Beginning Inventory $ 60,000
Purchases $ 175,000
Cost of goods sold -$ 171,000
Ending Inventory $ 64,000
Answer:
B. Project Management
Explanation:
Project management is defined as the application of methodology, skills, knowledge and previous experiences to achieve specific project objectives. It involves setting or knowing what the project goals/objectives are, planning how to achieve it and determining what resources are to be used in doing so. It applies knowledge of process, skills, tools, deliverables and techniques to project activities to ensure goals and requirements are met.
Answer:
LIFO for December 31 2017 and any system will report the same cost on December 31 2018
Explanation:
The question says "Hite's acquisition costs have increased steadily.", which means the units purchased later have a higher price. LIFO stands for Last In First Out, which means if Hite Co. sold something, the cost should be of the ones purchased the last, not the first, which means, the ones purchased at a more expensive price, hence increasing the costs.
So in December 31 2017, there are still units in stock (physical quantities in inventory), which means that under LIFO system, those ones still remaining are the ones purchased first, cheaper than the ones sold (purchased last, as last ones got in are the first ones out). So LIFO will report a higher cost than another system such as FIFO (first in first out), which would mean that the first ones purchased will go out first, the cheapest are sold while the most expensive units are still in inventory.
However, in December 31 2018, it does not matter which system is used, as there are no more units in inventory. All units were sold, so it doesn't matter which ones were out first and which ones last, they all got out and costs are reported the same.