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luda_lava [24]
2 years ago
6

George owns a pizzeria in Queens, and he buys his cheese and dough and sauce from SYSCO. This firm provides its customers with t

he most widely used source of short-term funding, since it is the least expensive and the most convenient way of buying goods and services and paying for them later. This practice, very popular among small businesses and large businesses alike, is called
Business
1 answer:
alexandr1967 [171]2 years ago
5 0

Answer:

Trade credit

Explanation:

Trade credit occurs between traders where a trader allows another to purchase goods without paying for them immediately.

It is the cheapest form of short term financing.

This is a form of business to business agreement where payment is set at a later date of 30 days, 90 days or 60 days.

The transaction is recorded by using invoice.

Usually it is a zero percent short term finance. The amount of the good at time of purchase is what is paid at the sure date.

There is no extra payment made by the buyer as interest on the amount agreed.

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Reuter Bank loaned Sabean Corporation $500,000 in
hammer [34]

Answer:

C) I, II, and III only.

  • I. May demand payment of the full amount immediately from  the sureties when the corporation defaults on the loan.
  • II. May demand payment of the full amount immediately from  the sureties even if Reuter does not attempt to recover any  amount from the collateral.
  • III. May attempt to recover up to $200,000 from the collateral and  the remainder from the sureties, even if the remainder is more  than $300,000.

Explanation:

The bank has several options in this case, depending on the financial position and net worth of the sureties and the corporation. It can decide to collect all the debt directly from them, or collect part of the debt through the collateral property, or it can go after the assets of the corporation, or any type of combination. In this case the bank has three options from which it can collect the debt and it is up to them to decide how they proceed.

4 0
3 years ago
An analysis of stockholders' equity of Hahn Corporation as of January 1, 2010, is as follows:
charle [14.2K]

Answer:

Additional paid-in capital is $904,200

Explanation:

Number of shares, issued and outstanding = 93,000 shares

Acquired 2,460 shares of its stock for $75,000.

Sold 2,000 treasury shares at $35 per share.

Sold the remaining 460 treasury shares at $20 per share.

i) Acquired 2,460 shares of its stock for $75,000.

= Treasury Stock Dr $75,000

ii) Sold 2,000 treasury shares at $35 per share.

Treasury Stock (2,000 × $35) = Dr $70,000

iii) Sold the remaining treasury shares at $20 per share.

Treasury Stock (460 × $20) = Dr $9,200

Total Treasury Stock = $75,000 - $70,000 - $9,200

= ($4,200)

Paid in Cap-tresury stock= 10,000-5000=5000

Additional Paid in capital = Paid in Capital - treasury stock

= 900,000 + 4,200 = $904,200

6 0
3 years ago
Which of the following is an example of a good with elastic supply in the short run?
garri49 [273]

Answer:

my be plastic wrep

Explanation:

because it seems to be elastic and its holds on very well

4 0
2 years ago
________ is the process of distributing indirect costs to products. cost allocation job cost recording cost pooling cost tracing
tatuchka [14]
I believe the answer is cost allocation.
3 0
2 years ago
Read 2 more answers
"Quill Industries uses the aging of accounts receivable method. Its estimate of uncollectible receivables resulting from the agi
vlabodo [156]

Answer:

$23,300

Explanation:

Bad debt Expense will be calculated using the account receivable method. The expense is calculated using the account receivable aging analysis.

Closing Value of the Allowance for Doubtful Accounts will be as follow

As Allowance for Doubtful Accounts already have Credit balance of $12,200, we need to adjust the remainder to make the closing credit balance of Allowance for Doubtful Accounts $35,500 at the year end.

Adjustment Value = $35,500 + $12,200 = $23,300

This Expense will be recorded as follow

Dr.   Bad Debt Expense                         $23,300

Cr.   Allowance for Doubtful Accounts $23,300

3 0
3 years ago
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