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2 years ago

Credit score is used to determine your financial worth ?

Business

2 answers:

Blababa [14]2 years ago

8 0

Answer:

Explanation:

I live in Canada.

I have been told that my credit score is quite high. That's because I don't live beyond what I can pay for with this month's paycheck. I don't think anyone would judge my net worth by my credit score. In fact, bank loans won't think of stopping at credit rating. They (in Canada at least) would never think of giving out a loan whose repayment per month exceeded 1/3 of my paycheck.

Maybe I just have a tough bank, but I certainly agree with their policy.

Sergeu [11.5K]2 years ago

4 0

The higher the score, the better a borrower looks to potential lenders. A credit score is based on credit history: number of open accounts, total levels of debt, and repayment history, and other factors. Lenders use credit scores to evaluate the probability that an individual will repay loans in a timely manner.

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A local private not-for-profit health care entity incurred the following transactions during the current year. Record each of th

erastova [34]

Answer:

JOURNAL ENTRIES

a) Debit investment $160,000 Credit Unrestricted Cash $160,000

b) Debit Permanent Restrictions cash $80,000 Credit Donations received $80,000

c) Debit Medicine Asset (on hand) $25,000 Credit $25,000 Restricted cash $25,000

d) Debit Accounts receivables $600,000 Credit N.G.O Revenues $600,000

e) Debit depreciation $38,000 Credit Accumulated depreciation $38,000

f) Debit Restricted Cash $15,000 Credit Interest income $15,000

g) NO entry ( estimate and future action)

h) Medicine expense $25000 Credit Medicine asset $25000

i) Debit Restricted Cash $172,000 Credit Investment $160,000, Credit Gain on sale of investment $12,000

Debit Equipment $187000 Credit Restricted cash $187000

j) no entry ( just promises)

UNRESTRICTED CASH

a) investment - 160000

RESTRICTED CASH (TEMPORAL)

c) Medicine -25000

f) Interest +15000

i) sold investment + 172000

= 162000

Restricted cash permanent

b) Donations +80000

Explanation:

EQUIPMENT = Temporal restricted cash = 162000+25000 = $187,000

The donation's money is restricted only to donations

7 0

3 years ago

In addition to other costs, Grosha Telephone Company planned to incur $600,000 of fixed manufacturing overhead in making 500,000

Whitepunk [10]

Answer:

Please find the detailed answer as follows:

Explanation:

a) Predetermined overhead rate = Estimated manufacturing overhead cost / Estimated total units in the allocation based

Predetermined overhead rate = 600,000 / 500,000 = 1.2 perunit

b) Total fixed cost spending variance = Actual fixed overhead cost - Estimated overhead cost

= 599,400 - 600,000

= 600 (F) Favourable

c) Total fixed cost volume variance = Actual fixed overheads - Estimated fixed overheads

Actual fixed overheads = Estimated fixed overhead rate * Actual units produced

= 1.2 * 508,000 = $609,600

Total fixed cost volume variance =$ 609,600 - $600,000 = $9600 (F) Favourable

4 0

3 years ago

Technician A says a fleet shop is usually connected with either a business that runs multiple vehicles or with equipment that is

saw5 [17]

Answer:

Technician A says a fleet shop is usually connected with either a business that runs multiple vehicles or with equipment that is maintained and repaired in house.

5 0

3 years ago

As interest rates rise, the prices of existing bonds will? rise stay the same fall either a or b, depending on the state of the

shepuryov [24]

As interest rates rise, the prices of existing bonds will fall.

A fundamental principle of bond investing is that market interest rates and bond prices generally move in opposite directions. When market interest rates rise, prices of fixed-rate bonds fall. this phenomenon is known as interest rate risk.

Interest rates will always change, and no one can predict how they will change over time. Whether interest rates are rising or falling, it’s vital to consider your yield to maturity for any bond purchase and compare it with what you could get if you were to buy a new bond.

To learn more about interest rate risk click below

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4 0

2 years ago

Weighted Average Cost Flow Method Under Perpetual Inventory System The following units of a particular item were available for s

zmey [24]

Answer:

Please see attached solution

Explanation:

a. Cost of goods sold . Detailed explanation attached.

b. Ending inventory. Detailed explanation attached.

Note 1.

Weighted average cost per unit on January 20

= $1,545,000/20,000 units

= $77.5

Note 2

Weighted average cost per unit on January 30

= $948,000/12,000 units

= $79.00

3 0

3 years ago