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Sav [38]
2 years ago
14

How often must a financial institution pay interest to the commissioner of management and budget from a broker's interest-bearin

g trust account?
Business
1 answer:
Luda [366]2 years ago
3 0

The answer is At least quarterly.

financial institution pay interest to the commissioner of management and budget from a broker's interest-bearing trust account at least quarterly.

What is a Financial institutions?

  • A financial institution (FI) could be a company locked in within the business of managing with monetary and financial transactions such as stores, advances, ventures, and cash exchange.
  • Financial institutions envelop a wide run of commerce operations inside the money related administrations segment counting banks, believe companies, protections companies, brokerage firms, and speculation dealers.
  • Financial teach can shift by measure, scope, and geography.
  • A financial institution (FI) is a company engaged in the business of dealing with financial and monetary transactions such as deposits, loans, investments, and currency exchange.

To know more about financial institution visit:

brainly.com/question/14583055?

#SPJ4

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Lenore, Inc. gathered the following information from its accounting records and the October bank statement to prepare the Octobe
Rashid [163]

Answer:The up-to-date ending cash balance on October 31 is: $8,290---C

Explanation:

A bank Reconciliation statement helps to match a company's book record to its bank record and adjust discrepancies, If any.

Here, the deposits in transit and outstanding checks fall under the bank's accounting records and will not be involved in the company's additions or deductions in the accounting book balance records.

Ending cash balance as per books = $7,000

Add:

Interest received from Bank =           +$1,700

subtotal                                                $8,700                    

Deduct

Bank Service charge =                        -$60

NSF check =                                        -$350

Up-to-date ending cash balance =     $8,290

4 0
3 years ago
Uniform Supply accepted a $6,300, 90-day, 8% note from Tracy Janitorial on October 17. If the note is dishonored, but Uniform Su
Dovator [93]

Answer:

Debit Cash $6,426; credit Interest Revenue $21; credit Interest Receivable $105, redit Notes Receivable $6,300.

Explanation:

Based on the information given the appropriate journal entry that Uniform Supply should make on January 15 of the next year will be:

Debit Cash $6,426

($6300+$105+$21)

Credit Interest Revenue $21

($6300*8%*15/360)

Credit Interest Receivable $105

(6300*8%*75/360)

Credit Notes Receivable $6,300

6 0
3 years ago
The traditional method of making product mix decision considersA.producing the products with the highest contribution margins fi
Helga [31]

Answer:

The correct answer is letter "A": producing the products with the highest contribution margins first.

Explanation:

A product mix refers to the different assets a company may posses in its portfolio. Those products or services are usually similar or satisfy almost the same need. They are measured according to their width, length, depth, and consistency. The product mix avoids that the company relies on a single product or service as a source of income. Besides, the product or service with the fastest and highest revenues is the one to be produced first.

8 0
3 years ago
During its first year of operations, Marigold Corporation had the following transactions pertaining to its common stock. Jan. 10
RideAnS [48]

Answer:

Journalize the transactions is given below

Explanation:

given data

Issued =  66,500 shares

cash = $6 per share

Issued = 41,500 shares

cash = $8 per share

solution

we get here Journalize the transactions

and we assuming that the common stock has a par value of $6 per share

so

Jan. 10 cash is 66,500 × 6 = 399000

and cash for July 1  is = 41,500 × 8 = 332000

and common stock = 41,500 × 6  = 249000

paid in capital excess =  332000 - 249000 = 83000

Date             Account Titles                           Debit               Credit

Jan. 10          cash                                            399000

                    common stock                                                   399000

July 1             cash                                             332000

                     common stock                                                 249000

                     paid in capital excess                                      83000

8 0
3 years ago
What explanation might an economist provide why some people overeat when such behavior can lead to health​ consequences? Some pe
LiRa [457]

Answer:

Utility overvalued

Explanation:

According to economists, such people over value the utility they are meant to get in the future. They only want to get the entire satisfaction at a go because of the fear of not getting that food again in the nearest future.

3 0
3 years ago
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