Answer:
He/She has no property subject to execution.
Explanation:
It is description of a person who doesn't have the assets for the creditor to seize when the court order requires the debt repayment. A broke and unemployed person is judgement proof. The debtor having few legally protected assets and income is also judgement proof. Judgment proof is also called the collection proof and is not permanent. The judgement are valid for many years, the creditors continue to collect whatever the judgement allows even after they have won a lawsuit against a delinquent customer.
Yes she excessive debt because lets get one thing straight why does she have to pay monthly for furniture!
Answer:
Date Account titles and Explanation Debit Credit
Sep 30 Delivery expenses $16
Offices supplies $19
Postage expenses $32
Receivables from employees $25
Cash $92
(To record replenishment of petty cash fund)
Answer:
16.67% and 17.36%
Explanation:
The computation is shown below:
Nominal annual interest rate is
Let us assume the nominal annual interest rate be X%
$12,000 × X% × 6 months ÷ 12 months = $13,000 - $12,000
$12,000 × X% × 6 months ÷ 12 months = $1,000
$6,000 × X% = $1,000
So X% is 16.67%
i.e nominal interest rate is 16.67%
Now the effective annual interest rate is
= (1 + 16.67% ÷ 2)^1 × 2 - 1
= (1 + 0.08335)^2 - 1
= 1.1736472225 - 1
= 17.36%