Line 13b, Total Credits, on Form 1040 equals:

Q: 15. The earned income credit is a refundable credit. True False

A: The earned income credit is a tax credit available to the low income taxpayers in United States.…

Q: guish between Eurocurrency, Euro credit and Euro commercial paper

A: Distinguish between Eurocurrency, Euro credit and Euro commercial paper   There are various…

Q: The financial statements are translated from the recording currency to the reporting currency when…

A: The financial statement summaries together give a total picture of the presentation and soundness of…

Q: What are the five C's of credit?

A: BANKS use 5 c's to quantify and decide whether the applicant is eligible to give loan.

Q: List and explain the four categories of loans.

A: Loans are financial transactions where one party, typically a lender such as a bank or financial…

Q: What are the five differences between Bills Payable and Bills Receivable?

A: Bills payable: Bills payable is a document that reflects the amount to be paid by an individual or…

Q: 6. Calculate the EIR, if the trade credit under each of the following: a) 2/10,n/60 b) 2/10, 1/60…

A: Answer a: EIR=2100-2×36560-10=298×36550=14.90%

Q: In bill of exchange the payment is received by

A: Option (d) is the correct answer

Q: lain 5C analysis for loan proc

A: Loans are a type of credit vehicle in which a sum of cash is lent to this other party in return for…

Q: What would the credit terms of “2/10, n/EOM” mean?

A:

Q: Define each of the following terms: i. The euro

A: The European Economic and Monetary Union (EMU), or EU, comprises of 28 part countries, of which 19…

Q: 5.Will a company use the same exchange rate when translating ,Assets ,Liabilities,Revenues and…

A: General Introduction: Translation of currency is a process where one currency is converted in terms…

Q: What is a line of credit? Give three examples?

A: Line of credit is the borrowing limit available to a customer by the bank. The customer can borrow…

Q: D6) Finance What are the costs of extending trade credit? (Be specific please)

A: Trade credit is the credit or kind o loan given to the customers of the business for delaying the…

Q: What is a sale on credit and why it is needed? Give three examples?

A: Sale on Credit: A sale on credit is revenue earned by a company when it sells goods and allows the…

Q: Credit scoring is the:

A: Credit scoring: It is a statistical analysis done by financial institutions and lenders to decide a…

Q: Why are credit instruments important? Explain. (150 words)

A: Credit is neither capital nor creates capital. The credit instruments solely represent cash and…

Q: 14. Which of the following is an example for non-trade receivables? a. Dividends receivable. b. All…

A:

Q: 25. The amount commissions earned will appear in the balance sheet. O True O False

A: Commissions - It refers to the compensation which is paid to an employee after completion of a…

Q: The margin requirement is set by the ________. Select one: a. Federal Reserve b. SEC c. FDIC d. SIPC…

A: Margin requirement is an important concept in the world of investing and finance. It refers to the…

Q: how did you get the -68419 and -61272 in the fifo balance sheet

A: Cost of goods sold is the amount of cost which is assigned to the sold goods.  Taxes are calculated…

Q: Explain the following Credit Terms: 4/21, n/30.

A: The invoice includes all the terms related to payment due from the customer.

Q: What is the  basic differences between transferable letters of credit and back-to back letters of…

A: These are two types of credit given to businesses.

Q: What is the differ

A: A credit memorandum stand for credit memorandum when a contributor's withdrawal from his bank…

Q: What are the four elements of a credit policy? Briefly explain.

A: Following are the four elements of a credit policy: Credit standards: Consider potential clients by…

Q: The party who borrows money in a note payable is known as the: Multiple Choice Maker. Payee Issuer.…

A: Notes payable are written promises by a borrower to repay a specific amount of money to a lender on…

Q: Suggest five reasons why there might be a difference between the balance on the payables ledger…

A: Before reaching the difference between two , firstly we have to understand the meaning of the…

Q: The term (1 + i)" is called a factor and is known as the single-payment compound amount factor.…

A: Future value of money can be calculated as F=P * (1+i)n (1+i)n  is called a factor and this factor…

Q: What does "2/10" mean, with respect to "credit terms of 2/10, n/30"

A: Credit terms are those terms which provides the parameters of payment by the customers for the…

Q: Le compte qui augmente les capitaux propres est appelé ? A. Compte débiteur B. Compte de crédit C.…

A: Le compte qui augmente les capitaux propres est appelé Compte de crédit.  Hope this will solve your…

Q: Exercise 1.1: Balance of Payments Accounting Describe how each of the following transactions affects…

A: Following is the answer to the given question

Q: What is the revolving credit arrangements in the exposure draft, Topic 470?

A: The FASB issued an Exposure draft titled debt (470) which aims at simplifying the classification of…

Q: credit terms :5, 1/15, n/45. what is the sh discount?

A: When we purchase goods , the buyer may  offer  discount on the goods sold . Discount are of two…

Q: 17-Which of the following journal entry is correct for payment of loan instalment?

A: Journal entry for payment of loan installment    Loan is in nature of liability, And Payment of such…

Q: Give a detailed answer to the theoretical question Display graphically and explain the mechanism of…

A: Bills of exchange indicate a written agreement stating the obligation of one party to pay the due…

Q: LC2Q7. If the discount period is missed, payment is due by the end of .

A: Invoice means  the bill against which the payment is to be received or paid. 4/15 net 30 means 4%…

Q: explain the five (5) Cs of Credit.

A: The five (5) Cs credit method is the method used to assess the credit worthiness of the borrower…

Q: There are four types of accrual / deferral accounts. Please provide a definition and example of each…

A: The accrual and deferral Accounts are created under accrual basis accounting.

Q: Determine if this shall result in recognition of liabilities 16.Sale of goods with product warranty…

A: Product warranty means a condition to repair or replace the sold goods for damages within certain…

Q: Ok, but how did you get the $630,303.03, $607,299.27, $635,114.50 and $676,422.76 under the second…

A: A question was asked by you and a solution was provided. You now have a follow up question, where…

Q: Face value of a note payable plus interest is called maturity value. face value. Oproceeds.

A: Introduction: Notes payable: Notes payable is a debt instrument. Notes Issued for cash borrowing,…

Q: Credit termog 1/10, n/30 means

A: A discount provided by the seller to the buyer on the purchase of the goods and services by reducing…

Q: An issuer of a cheque is called: a. Payee b. Drawee c. Endorser d. Draw

A: solution : a cheque is instrument to draw the money from bank account . A cheque is issued to other…

Q: What are the five Cs of credit? How do these serve as a yardstick for creditevaluation?

A: The “5 Cs of credit” is a system used to estimate the creditworthiness of the borrowers. The 5 Cs…

Q: 4. Explain the process of shorting a currency.

A: Shorting a currency indicates that the trader believes the currency will fall in value when compared…