Answer: Participation
Explanation:
Participation financing is a firm of financing whereby a loan is shared by several parties because such loans are too huge and a party cannot take the loan alone.
Since we are informed that works for a life insurance company that funds commercial investment projects and often insures these projects by insisting on an equity position, this means that participation financing is being practiced.
Answer:
The answer is: Delegated powers are those that are exclusive to national government, like printing money.
Explanation:
Delegated powers are powers given to the federal (national) government and specifically outlined by the US Constitution (Article 1, Section 8). They outline the authority and limits of the three branches of the federal government (legislative, executive and judiciary). Some examples of delegated powers are power to declare war, lay and collect taxes, print and coin money, etc.
Answer:
c. $24,500
Explanation:
The allowance for doubtful accounts is a contra-asset account that records the amount of receivables expected to be uncollectiblea, makes a reduction of the total amount of accounts receivable appearing on a company’s balance sheet. There are two way to estimate uncollectible accounts: the percentage of sales method and the accounts receivable aging method.
ABC Company uses the percentage of sales method - application a flat percentage to the total amount of net credit sales for the period.
Estimated uncollectible = 3% x $750,000 = $22,500
The company establishes an allowance for doubtful accounts for $22,500 while simultaneously reporting $22,500 in bad debt expense.
Before adjusting on December 31, 2004, the Allowance for Doubtful Accounts had a credit balance of $2,000.
The balance in the allowance for doubtful accounts after adjustment is $22,500 + $2,000 = $24,500
Answer:
The statement is: True.
Explanation:
When a firm purchases its own shares they become part of the company's treasury stock. This usually happens when the organization intends to sell those shares in the future. According to the General Accepted Accounting Principles (<em>GAAP</em>), the transactions between a firm and its owners are not considered as profit-making. Thus, when a company reissues the treasury stock shares no revenues or losses are recorded.
Answer:
Amount to be paid = $6,000
Explanation:
Trade discount is the reduction in the list price granted to a buyer. A 40% trade discount implies that Blue would have to pay only 60% of the list price.
The amount due for settlement = 10,000 - (40%× 10,000)= $6,000.
The term 2/10 implies that Jones is entitled to a cash a discount of 2% if it settles its invoice within 10 days following the invoice date. The deadline settlement date to receive the discount would therefore be August 6.
Since the account was settled on September 8 which is later than the deadline date set to qualify for the cash settlement discount, Blue would have to pay $6,000.
Amount to be paid = $6,000
