Reference no: EM131144249
1. As the All About You feature in this chapter (page 416) indicates, credit card usage in the United States is substantial. Many startup companies use credit cards as a way to help meet short-term financial needs. The most common forms of debt for startups are use of credit cards and loans from relatives.
Suppose that you start up Brothers Sandwich Shop. You invested your savings of $20,000 and borrowed $70,000 from your relatives. Although sales in the first few months are good, you see that you may not have sufficient cash to pay expenses and maintain your inventory at acceptable levels, at least in the short term. You decide you may need to use one or more credit cards to fund the possible cash shortfall. Instructions
(a) Go to the Web and find two sources that provide insight into how to compare credit card terms.
(b) Develop a list, in descending order of importance, as to what features are most important to you in selecting a credit card for your business.
(c) Examine the features of your present credit card. (If you do not have a credit card, select a likely one online for this exercise.) Given your analysis above, what are the three major disadvantages of your present credit card?
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Why it may be better than many real-world regulators
: Explain why such competition will not be as good for consumers as an extremely sophisticated regulator, and why it may be better than many real-world regulators
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Create a key and enter it into textbox under the key section
: Create a key and enter it into the textbox under the "Key" section. (The text option button under the textbox should be selected.) Next, click the "Generate" command button.
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Prepare the adjusting journal entry to record bad debts
: If the allowance for doubtful accounts had a debit balance of $800 instead of a credit balance of $1,500, determine the amount to be reported for bad debts expense.
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Does it follow that each of these is a monopolist
: In each case, explain what sources of competition the firm might face that would limit its market power.
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Examine the features of your present credit card
: Examine the features of your present credit card. (If you do not have a credit card, select a likely one online for this exercise.) Given your analysis above, what are the three major disadvantages of your present credit card?
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Prepare a gantt chart instead of dsm
: prepare a Gantt chart instead of DSM- . The tasks for preparing a dinner (along with the normal completion times) might include:
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Prepare the journal entries to record this transaction
: Assume the same information as BE9-4. On March 4, 2011, Delong Co. receives payment of $5,400 in full from Ristau Inc. Prepare the journal entries to record this transaction.
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Prepare the journal entry to record the write off
: What is the cash realizable value of the accounts receivable (1) before the write-off and (2) after the write-off?
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How his news affected flow time after completed construction
: After completing construction of a new building, we discovered our inventories are about 40% of what they were 3 months ago.- how has this news affected flow time after the completed construction and by how much?
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