The correct option is D.
Checking account is appropriate for Jorge in this situation because he plans to remove the money from his account in a few weeks time.
The major difference between saving account and checking account is that, saving account is majorly used to save and accumulate money for a medium or long time goals or for emergencies. The banks can count on the money staying in saving account for some time and a great part of it is not hold on reserve.
But a checking account is an instant access account. Money put in this account are usually hold in reserve by the banks because the owners can decided to withdraw at any time; banks can lend out money from checking accounts, so they make money on the accounts by charging fees.
Answer:
current market price of the bond is $667
Explanation:
the formula to calculate yield to maturity (YTM) is:
YTM = [C + (F - P)/n] / [(F + P)/2]
-
F = face value
- P = market price
- n = number of years x 2 =
- C = coupon
we just start replacing and solve for P:
- YTM = 8%
- C = 50
- F = 1,000
- n = 20
8% = [50 + (1,000 - P)/20] / [(1,000 + P)/2]
8% x (1,000 + P)/2 = 50 + (1,000 - P)/20
8% x (500 + 0.5P) = 50 + 50 - 0.05P
40 + 0.04P = 100 - 0.05P
0.04P + 0.05P = 100 - 40 = 60
0.09P = 60
P = 60 / 0.09 = 667
Answer:
Most of these firms had audit committees that met at least four times a year.
Explanation:
COSO stands for Committee of Sponsoring Organization, which is an organization that is dedicated to offering the thought of guidance as well as leadership on the fraud deterrence, internal control and management of enterprise risk.
From the findings which is not found as fraud is that the most of the firms or businesses had committees of audit which met at least 4 times a year.
Answer:
Margin of safety = 2,000 units
Explanation:
Margin of Safety =Total units sold-Break-even point
where Total units sold = 
=14,000 units
Break even point = 
The contribution per unit can be deduced from the contribution margin ratio as follows:
Contribution margin ratio=
=40%
this implies that Contribution Margin=40%*Sales
Given a selling price of $16/unit, contribution per unit = 0.4*$16=$6.40
therefore :
Break even point = 
=12,000 Units
Margin of Safety =Total units sold-Breakeven point= 14,000 units -12,000 units = 2,000 units
Answer:
Hi, the question you have provided is <em>missing data</em> on the Purchases and Available Inventory for Sale on the Company :
Here are the important principles to consider when calculating the value of Cost of Goods Sold using LIFO periodic Inventory Costing System.
LIFO stands for Last - In - First - Out. This method assumes that the last goods purchased are the first ones to be issued to the final customer or requisition department.
This means the valuation of inventory will be at the value of the <em>earliest </em>goods purchased and that the cost of goods sold will be at the <em>latest </em>prices.
<u>Units Sold Calculation</u>
In this question we are provided with Ending Inventory Balance of 26 units. Since its Periodic system, calculation of sales units will simply be Total Balance Available for Sale (Opening Balance plus Purchases) less Ending Balance of Inventory units.
<u>Cost of Sales Calculation</u>
Now with the units sold having been calculated, we have to use the principles of LIFO to make sure that of those units sold, last goods purchased are the first ones to be issued to the final customer.
