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3 years ago

HELP PLEASE

Business

2 answers:

Ksju [112]3 years ago

7 0

Answer:

Secured credit is backed by an asset equal to the value of a loan, while unsecured credit is not guaranteed by a material object.

Explanation:

bearhunter [10]3 years ago

7 0

Answer:

Secured credit is backed by an asset equal to the value of a loan, while unsecured credit is not guaranteed by a material object.

Explanation:

edge 2020

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The accountant for Main Street Jewelry Repair Services, Inc. forgot to make an adjusting entry for Depreciation Expense for the

charle [14.2K]

Answer:

C) Total assets are overstated.

Explanation:

The journal Entry for the Depreciation is as follows:

Dr. Depreciation Expense xxx

Cr. Accumulated Depreciation xxx

By missing this Journal entry the Accumulated depreciation account will be understated as we know that this is a contra asset account and this will net off the Long term assets. So, as a result the total asset will be overstated.

8 0

3 years ago

Arthur sells $100 worth of cotton to Bob. Bob turns the cotton into cloth, which he sells to Camille for $300. Camille uses the

kow [346]

Answer:

$1200

Explanation:

Gross Domestic Product (GDP) is the total market value of all of the final goods and services produced in a country over a particular period of time.

The contribution to GDP can be determined by adding the value created by each of the economic agents involved in the creation of the final goods and services

Arthur = 100 = 100

Bob = 300 - 100 = 200

Camille = 700 -300 = 400

Donita = 1200 - 700 = 500

Total Value 100 +200 +400 +500 = $1200.

You will observe that it is the same as the value of the final good i.e dress. In the production process, other goods involved are referred as intermediate goods

8 0

3 years ago

When Federal Reserve Banks purchase government from commercial banks, they increase the reserves in the banking system, which th

Arte-miy333 [17]

When Federal reserve banks purchase government securities from commercial banks, they increase the reserves in the banking system and they also increase the lending ability of the commercial banks.

If the Federal reserves want to increase the reserves, what they do is to buy securities. They then make a deposit to the account held at the commercial bank.

An example is if the Feds should buy securities of 1000 dollars, the bank would be having an excess of 1000 dollars to lend.

4 0

3 years ago

Melody and Todd are married and have employee wages of $250,000 each in 2019. They have no other income. How much additional 0.9

sasho [114]

Answer:

$1,350

Explanation:

The computation of the amount pay or received as a refund at the time of filing the income tax return for the year 2019 is shown below:

As we know that

The Medicare tax rate is 1.45% till $200,000

And, if it is above $200,000 than 2.35% is charged (1.45% + 0.9%)

Now

For individually calculated,

Melody = ($200,000 × 1.45%) + ($50,000 × 2.35%) = $4,075

Todd = ($200,000 × 1.45%) + ($50,000 × 2.35%) = $4,075

So, the total is

= $4,075 + $4,075

= $8,150

Now if they filling their joint return so

Total salary is $500,000 ($250,000 × 2)

Medicare upto $250,000 = $3,625 ($250,000 × 1.45%)

for remaining $250,000 = $5,875 ($250,000 × 2.35%)

So, the Total is

= $3,625 + $5,875

= $9,500

Now the refund is

= Joint return - individually return for each one

= $9,500 - $8,150

= $1,350

4 0

3 years ago

National Art is a new business. During its first year of operations, credit sales were $40,000 and collections were credit sales

zmey [24]

Answer:

The ending balance of Allowance for Bad Debts account is $800

Explanation:

The computation of the ending balance of allowance for bad debt is shown below:

= Credit sales × uncollectible rate

= $40,000 × 2%

= $800

The estimated amount would be considered as an allowance for bad debts i.e $800, So no other amount would be come while computing the ending balance of Allowance for Bad Debts account.

However, the other information which is given in the question is not relevant. Hence, ignored it

6 0

3 years ago