Crystal took time off after high school. During the first year, she worked full-time and moved out of

In two paragraphs, compare secured and unsecured types of credit. Secured sources of credit include title loans and personal loa

grigory [225]

Secure credit is credit that is given with a connection to a piece of collateral, such as a car or a home. This means that, if you were to default on your payments, the lender would be legally entitled to taking possession of the collateral. An example of this is a car loan, which is a loan that is used to purchase a car. On the other hand, an unsecured loan is one that is not protected by any collateral. This means that the lender cannot immediately take your property of you default on the loan. An example of this is a credit card.

In the case of a secured car loan, interests tend to be lower because of the security that the collateral (the car) provides. Moreover, these loans tend to provide interest rates that are fixed, which means that it is easier to plan for this expense and avoid falling behind on payments. The risk for the lender is less with a secured loan, as he is able to take the property and resell it if the borrower is unable to repay the loan. On the other hand, credit card are riskier for the lender (the bank) as they are unsecured, and this means that they are unable to immediately take any property from the borrower who did not repay. Because of this high risk, interest rates also tend to be high.

3 0

2 years ago

Colgate reported Diluted EPS of $2.38 in accordance with GAAP. How much higher would EPS be if Colgate ignored the impact of res

Fantom [35]

Answer:

EPS will be higher than $2.38

Explanation:

The earnings per share are the income that is accessible to the company's shareholders after all the costs and taxes are deducted. Restructuring costs are one-time costs that are recorded in the income statement as other operating expenses.

The presence of restructuring and other one-time costs in the Revenue Statement leads to lower pre-tax earnings and cause decrease in net profit. When these expenses are excluded, the Earning would increase, resulting in the company's EPS.

4 0

2 years ago

Two baseball leagues in the city, where mac and zach plan to open their sports academy, agreed to allow them to distribute an e-

Kamila [148]

<span>The survey and subsequent information this research would glean is called primary data. Primary data are different information and facts which are needed for a research and the data came from first-hand contributor or experiences. The primary data can be from interviews.</span>

6 0

1 year ago

A Chinese exporter sells $200,000 of toys to a French importer. The Chinese exporter requires the French importer to obtain a le

GuDViN [60]

Answer:

0.0416483 or 4.16%

Explanation:

Annual percentage rate, APR = 4%

Value of toys sold = $200,000

Note period = 90 day

N = 365 ÷ 90

= $200,000 × [1 - (0.04 × 90/360)]

= $198,000

Effective annual financing cost:

$=(\frac{Value\ of\ toys\ sold}{Calculated\ value} )^{\frac{365}{90} }-1$

$=(\frac{200,000}{198,000} )^{\frac{365}{90} }-1$

= 1.0416483 - 1

= 0.0416483 or 4.16%

4 0

1 year ago

Rayya Co. purchases and installs a machine on January 1, 2015, at a total cost of $176,400. Straight-line depreciation is taken

Arada [10]

Answer:

1.Journal 2019 Expense:

Depreciation Expense $12,600 (debit)

Accumulated Depreciation $12,600 (credit)

2.Journal : Cash Sale of $45,500

Cash $45,500 (debit)

Accumulated Depreciation $113,400 (debit)

Profit an Loss $17,500 (debit)

Cost : Machine $176,400 (credit)

3.Journal : insurance settlement of $25,000

Cash $25,000 (debit)

Accumulated Depreciation $113,400 (debit)

Profit an Loss $38,000 (debit)

Cost : Machine $176,400 (credit)

Explanation:

Depreciation Expense (Straight line) = (Cost - Salvage Value) ÷ Estimated Useful Life

= $176,400 ÷ 7

= $25,200

2015

Depreciation Expense = $25,200

2016

Depreciation Expense = $25,200

2017

Depreciation Expense = $25,200

2018

Depreciation Expense = $25,200

2019

Depreciation Expense = $25,200 × 6/12

= $12,600

Journal 2019 Expense:

Depreciation Expense $12,600 (debit)

Accumulated Depreciation $12,600 (credit)

Journal : Cash Sale of $45,500

Cash $45,500 (debit)

Accumulated Depreciation $113,400 (debit)

Profit an Loss $17,500 (debit)

Cost : Machine $176,400 (credit)

Journal : insurance settlement of $25,000

Cash $25,000 (debit)

Accumulated Depreciation $113,400 (debit)

Profit an Loss $38,000 (debit)

Cost : Machine $176,400 (credit)

3 0

2 years ago