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3 years ago

In the 1920s, many rural banks failed because

1 answer:

7 0

In the <span>1920s, many rural banks failed because of the failure of the farms to produce the bumper crops they were producing previously. The farmers had invested heavily in machinery and storage facilities. They drop in production meant that the investment did not recover and they failed to pay their loans back. </span>

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A company factored $45,000 of its accounts receivable and was charged a 3% factoring fee. The journal entry to record this trans

Nataly [62]

Answer:

C. Debit to Cash of $43,650, a Debit to Factoring Fee Expense of $1,350, and Credit to Account Receivable of $45,000

Explanation:

Assuming the company factored the amount of $45,000 of its ACCOUNTS RECEIVABLE and was charged a 3% FACTORING FEE. The appropriate journal entry to record this transaction would include a:Debit to Cash of $43,650, a Debit to Factoring Fee Expense of $1,350, and Credit to Account Receivable of $45,000

Debit Cash $43,650

(97*$45,000)

Debit Factoring Fee Expense of $1,350

($3%*45,000)

Credit Account Receivable $45,000

6 0

3 years ago

Denise will receive annual payments of $10,000 for the next 25 years. The discount rate is 6.8 percent. What is the difference i

frosja888 [35]

Answer: $8,069.29

Explanation:

If it is paid at the beginning of the year, it accumulates an extra year of interest and would be an Annuity Due.

If it is paid at the end, it is an ordinary annuity.

Present value of annuity due = Annuity * Present value interest factor of Annuity due, 6.8%, 25 periods

= 10,000 * 12.673521

= $126,735.21

Present value of annuity = Annuity * Present value interest factor of annuity, 6.8%, 25 periods

= 10,000 * 11.866592

= $118,665.92

Difference :

= 126,735.21 - 118,665.92

= $8,069.29

4 0

3 years ago

The Gap company caters to the needs of men and women by manufacturing three different lines of fashion-wear based on the purchas

Wittaler [7]

Answer: demographic

Explanation:

Demography simply has to do with population study. From the question, we are informed that The Gap company caters to the needs of men and women by manufacturing three different lines of fashion-wear based on the purchasing power of its customers.

This shows that Gap most likely segments the consumer market based on demographic variables.

3 0

4 years ago

Whether you need a portfolio or not is dependent on_____ (1 point) a. if you have a portfolio at home b. the type of job for whi

Mrrafil [7]

The answer is b the type of job for which you are applying

6 0

2 years ago

The following are two equivalent ways to measure GDP:

castortr0y [4]

ANSWER : TRUE

EXPLANATION :

GDP denotes the total (gross)value of goods & services produced by an economy, during a period of time (financial year) .

This total value of goods can be calculated by both Income & Spending approach , based on assumption that 'one person expenditure is other person income'. Because both reflect the total value of goods produced .

This is evident from two methods to calculate GDP :

1. Expenditure Method

NDP (net value) = Compensation of Employees + Opereating Surplus + Mixed Income ;

Where - 1st COE is income of labour , 2nd OS (Rent + Interest + Profit) income of other factors - land , 3rd MI income from self employed .

2. GDP = Private Final Consumption Expenditure + Govt. Final Consumption Expenditure + Gross Domestic Capital Formation + Net Exports ;

Where - 1st PFCE is expenditure by private households , 2nd GFCE expenditure by govt , 3rd GDCF investment expenditure by firms , 4th expenditure by Abroad .

4 0

3 years ago