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2 years ago

Which of the following statements is not true of cash advances?

Business

2 answers:

Scorpion4ik [409]2 years ago

8 0

C- APR of cash advance is not higher than that of regular credit card purchases.

Effectus [21]2 years ago

5 0

the correct answer is b

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Astro Corporation was started with the issue of 2,000 shares of $5 par stock for cash on January 1, 2018. The stock was issued a

BartSMP [9]

Answer:

Astro Corporation Income Statement

Revenues $31,000

Expenses ($17,100)

Net profit $13,900

Astro Corporation Statement of Changes in Shareholder Equity

Common stock APIC Ret. earnings Total

Balance Jan. 1 $10,000 $14,000 $24,000

Net income $13,900 $13,900

Dividends ($2,000) ($2,000)

Balance Dec. 31 $10,000 $14,000 $11,900 $35,900

Astro Corporation Balance Sheet

Assets Liabilities

Cash $35,900 $0

Shareholders' equity

Common stock $10,000

APIC $14,000

Retained earnings $11,900

Total $35,900 Total $35,900

Astro Corporation Statement of Cash Flows

Cash flows from operating activities:

Revenues $31,000

Expenses ($17,100)

Cash from operating activities $13,900

Cash flows form financing activities:

Stock issuance $24,000

Dividends paid ($2,000)

Cash from financing activities $22,000

Net increase in cash $35,900

6 0

2 years ago

Incident resource information management systems are used to collect, update, and process data; track resources; and:

zaharov [31]

Alert personnel when credentials are about to be expired

7 0

2 years ago

(lavilla) lavilla is a village in the italian alps. given its enormous popularity among swiss, german, austrian, and italian ski

bonufazy [111]

The answer is "120 skiers per day".

On average, 1,200 skiers in the village

On average, skiers stay in lavilla for 10 days

how many new skiers are arriving = ?

Applying Little's Law,

Flow Rate = Inventory / Flow Time

= 1200 skiers / 10 days

= 120 skiers per day

4 0

2 years ago

Fizzy Corporation uses the equity method to account for its 25% investment in Organic Juices Company, for which it paid $10 mill

Rasek [7]

Answer:

a. Favorable leaseholds with an 8-year life

Options:

b. Technology rights with a 3-year life

c. Bottler franchise rights with indefinite life

d. Goodwill

Explanation:

We should notice the income recognize is the 25% of the company's income thus, there is no depreciation nor amortization.

a. Favorable leaseholds with an 8-year life

A favorable leaseholds because the market rate changes when performing the acquisition of the 25% would make for this but, will be amortized over an 8 years spawn Hence is guaranteed to not the cause of the 10,000,000 extra as it should decrease the income of 500,000 which is not what happened.

b.- and intangible which isn't recognize in the company's firm can also generate this difference and be eliminate after 3-years thus is a viable option

c.- the franchise right will still be there but, the valuation of them can change. The franchise while it is indefinite It can lose their market value (imagine a franchise of candels after electricity is invented) Thus, it could be or not.

d.- The goodwill could be checked for imparment and eliminated before the 5 years period or not require a journal entry that year.

5 0

2 years ago

Adnan Hassan earned 5% commission as a sales trainee. After

wel

Answer:

He earns $296780 as a Sales Trainee and $377094 as a Sales Associate

Explanation:

Given

Let x represents his sales as a sales trainee

Let x represents his sales as a sales associate