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Masja [62]
3 years ago
5

T/F There may be occasional reasons to go into debt, like real emergencies.

Business
1 answer:
s2008m [1.1K]3 years ago
4 0
True, but could you elaborate on this ?
You might be interested in
Journalize the following selected transactions for January. Journal entry explanations may be omitted.
ycow [4]

Answer and Explanation:

The journal entries are shown below:

On Jan 1

Cash $14,000

     To Capital owner $14,000

(being cash received)

On Jan 2

Cash $9,500

    To Account service revenue $9,500

(being cash received)

On Jan 3

Account receivable $4,200

       To Service revenue $4,200

(being service provided on account)

On Jan 4

Advertising expense $700

       To Cash $700

(being cash paid is recorded)

On Jan 5

Cash $2,500

       To Account receivable $2,500

(being cash received)

On Jan 6

Owner drawings $1,010

       To cash $1,010

(being cash paid is recorded)

On jan7

Telephone expense $900

      To Account payable   $900

(Being telephone bill received)

On Jan 8

Account payable $900

         To cash

(being cash paid is recorded)

3 0
2 years ago
MC Qu. 123 Fallow Corporation has... Fallow Corporation has two separate profit centers. The following information is available
Rzqust [24]

Answer:

$187,750

Explanation:

Computation for operating income for the West Division.

OPERATING INCOME FOR THE WEST DIVISION

Sales $450,000

Less Cost of goods sold ($155,000)

Gross profit $295,000

($450,000-155,000)

Less: Salary Expense ($51,000)

Allocated rent ($56,250)

($90,000 * 11250/18,000)

West Division income $187,750

Total area of both division = 11,250 + 6,750 = 18,000 square feet

Therefore operating income for the West Division is $187,750

7 0
3 years ago
Company policy does not allow us to give cash refunds effectively explains why a writer's request must be refused.
4vir4ik [10]
That statement is false.

Often time, company's policy regarding refund is written in overly complicated manners so the company is protected from the potential legal attack by the consumers. So I guess this would make the informing effort became ineffective for the consumers.

4 0
2 years ago
Most home insurance policies cover jewelry for $1,000 and silverware for $2,500 unless items are covered with additional insuran
raketka [301]

Answer:

$8,200

Explanation:

The amount of asset that is not covered under the insurance policy would not be claimable so if the amount of insurance policy that covers jewelry of worth $1000 and silverware of worth $2,500 then the total claimable insurance would be $3500 ($1000 for both Jewelry and $2500 for silverware).

The jewelry stolen is worth $5200 and out of it $4200 is not claimable because $1000 of this is covered under the insurance policy. Likewise the silverware worth of $6500 has been stolen of which $4000 is not claimable because $2500 of this is covered under the insurance policy.

The claim that would be not covered under the insurance policy would be:

Non claimable insurance amount = ($5,200 - $1,000) + ($6,500 - $2,500)

= $8,200

7 0
3 years ago
The average propensity to consume is the: ratio of consumption to income. amount consumed out of an additional dollar of income.
Arlecino [84]

Answer:

The correct answer is: ratio of consumption to income.

Explanation:

The average propensity to consume is a measure to show the percentage of income that is spent on consumption of goods and services. It is calculated by the ratio of consumption and income.  

It can also be calculated as 1 - APS. Here, APS is the average propensity to consume which is the ratio of savings to income.

4 0
3 years ago
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