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QveST [7]
1 year ago
7

Dakota Mining Company pays its bills and employees with checks drawn on a bank from another part of the country. Checks usually

take about three days to clear the firm's account. _____ is the advantage gained during the check-clearing time.
Business
1 answer:
UNO [17]1 year ago
7 0

Dakota Mining Company pays its bills and employees with checks drawn on a bank from another part of the country. Float  is the advantage gained during the check-clearing time.

<h3>What is float?</h3>

Generally, The float is money in the banking system that is momentarily counted twice owing to time delays in reporting a deposit.

In conclusion,  the advantage gained during the check-clearing time is called float

Read more about Banking

brainly.com/question/4074386

#SPJ1

You might be interested in
Unearned Fees appear on the ___
Anna007 [38]

Answer:

d

Explanation:

Unearned fees is recorded on a company's statement of financial position(balance sheet) as a liability. Unearned Fees is presented  as a liability because the revenue has still not been earned  and relates services owed to a customer. .

See IFRS 15 for further clarity..

3 0
3 years ago
All of the following are reasons for a company to repurchase its previously issued stock, except:
gladu [14]

Answer:

The correct answer is option d. to increase the shares outstanding.

Explanation:

A company can repurchase its previously purchased stocks to resell to the employees, for bonuses to employees and to even support the market price of the stock.

But the company certainly will not repurchase its previously purchased stocks  to increase the shares outstanding.

I hope the answer is helpful.

Thanks for asking.

4 0
3 years ago
a new hockey arena at a cost of $2,500,000. It received a downpayment of $500,000 from local businesses to support the project a
mylen [45]

Answer:

a. Prepare the journal entry to record the issuance of the bonds on January 1, 2018

we must first determine the market price of the bonds:

PV of face value = $2,000,000 / (1 + 5%)²⁰ = $753,778.97 ≈ $753,779

PV of coupon payments = $110,000 x 12.462 (PV annuity factor, 5%, 20 periods) = $1,370,820

market value of the bonds = $753,779 + $1,370,820 = $2,124,599

January 1, 2018, bonds are issued at a premium

Dr Cash 2,124,599

    Cr Bonds payable 2,000,000

    Cr Premium on bonds payable 124,599

b. Prepare a bond amortization schedule up to and including January 1, 2022

since we are not told which amortization method to use, I will use the straight line method.

Date           Interest        Cash              Premium          Carrying

                  expense      paid               amortization     value

7/2018        $103,770     $110,000       $6,230             $2,118,369

1/2019         $103,770     $110,000       $6,230             $2,112,139

7/2019        $103,770     $110,000       $6,230             $2,105,909  

1/2020        $103,770     $110,000       $6,230             $2,099,679    

7/2020       $103,770     $110,000       $6,230             $2,093,449

1/2021         $103,770     $110,000       $6,230             $2,087,219  

7/2021        $103,770     $110,000       $6,230             $2,080,989                              

1/2022        $103,770     $110,000       $6,230             $2,074,759                                

c. Prepare the journal entries to record the interest payments on January 1, 2020 and January 1, 2021.

bond premium amortization per coupon = 124,599 / 20 = $6,229.95 ≈ $6,230

January 1, 2020, coupon payment

Dr Interest expense 103,770

Dr Premium on bonds payable 6,230

    Cr Cash 110,000

January 1, 2021, coupon payment

Dr Interest expense 103,770

Dr Premium on bonds payable 6,230

    Cr Cash 110,000

d. Prepare the journal entry to record the bond called on January 2021 at 106

Dr Bonds payable 2,000,000

Dr Premium on bonds payable 87,219

Dr Loss on retirement of debt 32,781

    Cr Cash 2,120,000

5 0
3 years ago
A fast-food restaurant has determined that the chance a customer will order a soft drink is 0.90. The proba- bility that a custo
azamat

Answer:

(a) The probability that the order will include a soft drink and no fries is 0.45.

(b) The probability that the order will include a hamburger and fries is 0.48.

Explanation:

Let the events be denoted as follows:

S = an order of soft drink

H = an order of hamburger

F = an order of french fries.

Given:

P (S) = 0.90

P (H) = 0.60

P (F) = 0.50

(a)

It is provided that the event of ordering a soft drink and fries are independent.

If events A and B are independent then the probability of event (A ∩ B) is:

P(A\cap B)=P(A)\times P(B)

Compute the probability that the order will include a soft drink and no fries as follows:

P(S\cap \bar F)=P(S)\times P(\bar F)\\=P(S)\times[1-P(F)]\\=0.90\times (1-0.50)\\=0.45

Thus, the probability that the order will include a soft drink and no fries is 0.45.

(b)

It is provided that the conditional probability that a customer will order fries given that he/she has already ordered a hamburger as, P (F|H) = 0.80.

The conditional probability of an event B given another event A has already occurred is:

P(B|A)=\frac{P(A\cap B}{P(A)}

Compute the probability that the order will include a hamburger and fries as follows:

P(F|H)=\frac{P(H\cap F)}{P(H)}\\P(H\cap F)=P(F|H)\times P(H)\\=0.80\times 0.60\\=0.48

Thus, the probability that the order will include a hamburger and fries is 0.48.

6 0
2 years ago
Which of the following activities would be most helpful in figuring out what your company's competitive advantages are?
Dennis_Churaev [7]
Checking your profits vs expense, and seeing which areas generate more profit. From there, you can choose between putting more money into the areas that are more profitable to you & decreasing the amount of money into areas that don't do as well, or continue another season to see if it is the same (as results can vary depending on the supply vs demand)

hope this helps
8 0
3 years ago
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