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astra-53 [7]
3 years ago
11

During 2020 Came Corporation transferred inventory to Nolan Corporation and agreed to repurchase the merchandise early in 2021.

Nolan then used the inventory as collateral to borrow from Norwalk Bank remitting the proceeds to Carne. In 2021 when Carne repurchased the inventory, Nolan used the proceeds to repay its bank loan. On whose books should the cost of the inventory appear at the December 31, 2020 balance sheet date?
A) Came Corporation
B) Nolan Corporation
C) Norwalk Bank
D) Nolan Corporation, with Came making appropriate note disclosure of the transaction
Business
1 answer:
Phoenix [80]3 years ago
5 0

Answer:

A) Came Corporation

Explanation:

This type of transaction is called a product financing arrangement by which one company (Came Corporation) facilitates inventory to another company for the purpose of the second company using it as collateral for a bank loan. Came should include the inventory cost in its balance sheet since it gave it Nolan but promised to repurchase it back.

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Carl wants to add a new slide to his PowerPoint presentation. Which option should he use?
Orlov [11]

The question is incomplete:

Carl wants to add a new slide to his PowerPoint presentation. Which option should he use?

A) On the Insert tab, click the Insert New command.

B) On the Insert tab, click the Add New command.

C) On the Home tab, click the New Slide command.

D) On the Home tab, click the Arrange command.

Answer:

C) On the Home tab, click the New Slide command.

Explanation:

PowerPoint is Microsoft software that is used to prepare presentations. If you want to add a new slide that is a page of the presentation, you can go to the home tab that is the default tab that appears on the top of the program and choose the option new slide. According to that, the answer is: on the Home tab, click the New Slide command.

The other options are not right because there is no insert new or add new command on the Insert tab and the arrange command is used for organizing the objects.

6 0
3 years ago
Which of the following is not normally considered an area of personal finance?
sertanlavr [38]
Choice of a marriage partner does not form part of personal finance. Ideally, personal finance talks about retirement planning, investments, budgeting, cash flow or any other things that may affect financial stability.
4 0
3 years ago
Each of the following statements describes how the political and legal environment encourages productivity EXCEPT: A. Well-defin
natita [175]

Answer:

C. Price changes in markets provide suppliers incentives to supply goods to markets.

Explanation:

Price changes in the market has two perspective,

  • increase in price, will increase the productivity for retailers,
  • decrease in price, will decrease the productivity for retailers.

With increase the retailers expect to earn more, and with decrease the retailers expect to earn less.

This is a normal market condition and scenario, this does not link to any kind of political or legal environment, although the change in price might be due to political or legal policies, but the increase or decrease in productivity, is not related to any political or legal influence.

6 0
3 years ago
______ refers to changes in behavior, cognitions, values, language, cultural activities, personal relational styles, and beliefs
sergeinik [125]

Answer:

2. acculturation

Explanation:

Acculturation -

It is process where the cultural , psychological and social changes are balanced between any two cultures , which adapting the prevailing  one in the society , in  referred to as acculturation.

In this method , the people adapts to a particular new culture of the society.

In order to learn and adapt and live along with the society .

The people actively tries to adapt to the new prevailing culture by increasing participation.

Hence , from the given information of the question,

The correct term is acculturation.

3 0
3 years ago
A company uses the cost method of accounting for treasury stock. On January 1, the company repurchases 1,000 shares of stock at
Ksivusya [100]

Answer:

The credit on December 31 is to credit Treasury Stock with $15,000.

Explanation:

There are two methods for accounting for Treasury Stock.  The first is the par value method.  With this method, the Treasury Stock account is debited or credited with the par value for each transaction, while the difference in par value is taken to the Additional Paid-in Capital account.

Using the cost method, the Treasury Stock account is debited and credited with the value of each transaction and the Additional Paid-in Capital account is not affected.

This implies that under the cost method, the purchase and resale of treasury stock is recorded by debiting and crediting the treasury stock account by the actual cost of purchase and actual value of sale.

3 0
3 years ago
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