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katrin2010 [14]

3 years ago

10

THREE reasons except politics for the looting of shops,malls and the destruction of business property in GAUTENG and KwaZulu Nat

al

1 answer:

Helga [31]3 years ago

8 0

Answer:

poverty,lack of AQ,others do it for fun

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Why do some lenders require borrowers to secure credit

joja [24]

<u>Complete Question:</u>

Why do some lenders require borrowers to secure credit?

A. To prevent defaults

B. To guarantee full repayment

C. To avoid any losses

D. To reduce risk

Answer:

Option D. To reduce risk

Explanation:

The reason is that the lender faces the credit risk which is the risk of the loss of the repayment in whole or in parts and the risk of default of the interest payments by the borrower.

So if we see the options, the option A, B and C are basically the credit risk that the lender is facing so the only option that is more general (not specific as the option A, B and C) and includes these three options is option D.

So the option D is correct.

4 0

3 years ago

he following information was drawn from the accounting records of Chapin Company. On January 1, Year 1, Chapin paid $56,000 cash

ololo11 [35]

Answer:

a. Record the year-end adjusting entry for depreciation expense on the truck in T-accounts.

December 31, 202x, accrued depreciation expense on truck

Dr Depreciation expense 10,000

Cr Accumulated depreciation - truck 10,000

b. Determine the book value of the truck that will appear on the December 31, Year 1, balance sheet.

Truck $46,000

c. Record the year-end adjusting entry of uncollectible accounts expense.

December 31, 202x, allowance for doubtful accounts

Dr Bad debt expense 16,000

Cr Allowance for doubtful accounts 16,000

d. Determine the net realizable value of receivables that will appear on the December 31, Year 1, balance sheet.

Accounts receivable $52,000

Explanation:

truck's depreciation expense straight depreciation = ($56,000 - $6,000) / 5 years = $10,000 per year

accounts receivable balance December 31 = $68,000

allowance for doubtful accounts = $0

total sales on account = $320,000

5% of credit sales are uncollectible

accounts receivable = $68,000 - $16,000 = $52,000

8 0

3 years ago

Prime Corp. has an ending balance in the accounts receivable account of $100,000. Prime recorded bed debt expense of $3000. Prim

Lelu [443]

Answer:

True

Explanation:

Prime's net realizable value of accounts receivable = accounts receivable balance - allowance for uncollectible accounts = $100,000 - $7,000 = $93,000

Bad debt expenses have already been debited, so they are no longer part of the allowance for uncollectible accounts.

5 0

3 years ago

madreJ [45]

Answer:

The question is incomplete; the complete question is given below:

$

Direct materials 15,000.00

Direct labor 25,000.00

Factory depreciation expense 45,000.00

Factory utilities expense 2,000.00

Payroll staff's salary 15,000.00

Prime cost= $40,000, Conversion cost= $72,000

Explanation:

Prime cost: It is the summation of all direct costs. Direct costs are costs that are incurred directly for a particular product, and therefore can be traced to it.

Examples of direct costs include; direct material costs, direct labour cost and direct expense

Direct materials cost: the costs of all materials used directly to manufacture a product. <em>For example, cocoa powder, vanilla used in making chocolate</em>. <em>Every other materials costs are indirect material costs</em>

Direct labor cost: the cost of the labor hours of workers actively involved in the production of a product. For example, the cost of the total hours paid to workers for packing the chocolates into cartons. <em>Every other labor costs are indirect labor costs</em>

Prime cost = Direct material cost+ Direct labour cost + Direct expense

Prime cost = $15,000 + $25,000= $40,000

Conversion cost = The sum of direct labour costs and <u>manufacturing overheads</u>

Conversion cost= $25,000 + $45,000 + $2000= $72,000

Note that payroll staff cost was excluded because payroll function is an administrative activitiy not manufacturing.

6 0

3 years ago

Which of the following statements is NOT true regarding forecasting? A. Forecasting may involve taking historical data and proj

laiz [17]

Answer: Forecasting is exclusively an objective prediction.

Explanation: In simple words, the process of predicting any future event by analyzing the past data is called the forecasting. The factors that an analyst takes from the past could be both qualitative and quantitative.

The forecasting process is done for a specified period and not for infinity. In other words, it is the study of trends and predicting how these trends could change in the future.

Hence from the above we can conclude that the correct option is B.

6 0

3 years ago