Answer:
It is called borrowed capital
Answer:C. horizontal merger
Explanation: Horizontal merger is a type of merging of business,it consists of mergers between firms producing similar products and services,it is aimed at increasing the market share and value of the firm buying the other firm. This type of merger helps to make the firm making the purchase have a strong competitive advantage to enable to effectively compete with other firms in the market.
Answer:
Credit sales= $69,000
Explanation:
Accounts receivable is a transit account that is used to show revenue that is owed to the business by other parties such as vendors.
The portion of accounts receivable that is collected contributes to profits, while the portion that is not collectible results in loss to the business.
When customers pay the balance in the account reduces, while when credit sales are made the balance increases.
Final balance of account receivable= Opening balance+ credit sales- customer payments
33,000= 40,000+ credit sales- 76,000
Credit sales= 33,000+ 76,000- 40,000
Credit sales= $69,000
1. False.
2. True
3. True
4. True
5. False
6. False