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3 years ago

Fees are never charged when depositing money into your checking account. True or False

2 answers:

6 0

Hi Brainiac! Thanks for asking a question here in the Business category. 

The answer to this statement would be false. Fees do end up being changed and differed when the money is deposited by the debit card.

Answer: False ✅

Hope that helps! ★ If you have further questions about this question or need more help, feel free to comment below or post another question and send the link to me. -UnicornFudge aka Nadia

Hatshy [7]3 years ago

5 0

False because sometimes banks throw in sneaky bank fees and also people may try to scam you. so false would be your best choice.

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The following information should be used to according to the provisions of GAAP (Statement of Cash Flows) and using the followin

yanalaym [24]

Answer:

Explanation:

3 0

3 years ago

Suppose the reserve requirement in the united states is 20% - Suppose the federal reserve wants to increase the money supply by

asambeis [7]

Answer:

Reserve requirement = 20% or 0.250

Simple money multiplier = 1/Reserve Ratio = 1/0.2 = 5

Note that,

Increase in money supply = Increase in total reserves * Simple money multiplier

$100 Billion = Increase in total reserves * 5

Increase in total reserves = $20 billion

This means that the federal reserve should decrease the reserve requirement by purchasing $20 billion worth of US government bonds from banks, which will lead to increase of $100 billion in money supply.

3 0

4 years ago

Walter Company uses a job-order costing system to account for product costs. The following information pertains to the current y

djverab [1.8K]

Answer:

COGM = 450,000

Explanation:

The amount debited will be equal to the COGM which is the cost of goods manufactured.

COGM = beginnning WIP + cost added - ending WIP

we need to know the cost added during the period:

cost added during the period

materials 140,000

direct labor 160,000

overhead applied

18 x 10,000 = 180,000

total 480,000

Notice, for the overhead we multiply the predetermined rate by the amount of labor hours.

The actual values and adjustment for application of overhead are calculate later at year-end

Now, we are given the following information:

we know that WIP increase by 30,000

so : ending is 30,000 dollars greater than beginning

which implies ending - beginning = -30,000

we plug that into the formula:

COGM = cost added + (beginning WIP - ending WIP)

COGM = 480,000 - 30,000

COGM = 450,000

4 0

4 years ago

Playtown Corporation purchased 75 percent of Sandbox Corporation common stock and 40 percent of its preferred stock on January 1

Nesterboy [21]

Answer:

Elimination Journal.

Retained Earnings $210,000 (debit)

Common Stock $ 150,000 (debit)

Investment in Sandbox Corporation $270,000 (credit)

Non-Controlling Interest $90,000 (credit)

Explanation:

When dealing with consolidation of Financial Statements, the Equity and Retained Earning in the Subsidiary has to be eliminated from the records whilst the Investment in Subsidiary and the Non-Controlling Interest in Subsidiary are recognized.

Elimination of the common items in consolidation is done by the use of Pro-forma Journals.

Goodwill or Gain on Bargain Purchase are also recognized on the date of acquisition of subsidiary.

Goodwill is the excess of Purchase Price and Non-Controlling interest over the Net Assets Acquired.While Gain on Bargain Purchase is the excess of Net Assets Acquired over Purchase Price and Non-Controlling interest.

Elimination Journal.

Retained Earnings $210,000 (debit)

Common Stock $ 150,000 (debit)

Investment in Sandbox Corporation $270,000 (credit)

Non-Controlling Interest $90,000 (credit)

8 0

4 years ago

Suppose the economy is closed with national saving of $3 trillion, consumption of $10 trillion, and government purchases of $4 t

yanalaym [24]

Answer:

The correct answer is: $17 trillion.

Explanation:

The Gross Domestic Product or GDP represents the overall market value of all the goods and services a country produces and it measures the size of the economy. The GDP is determined with the following formula:

GDP = C + G + I + NX

where:

C: private consumption or consumer spending
G: government spending
I: businesses' capital spending
NX: net exports (exports - imports)

In the example:

GDP = $3 trillion + $10 trillion + $4 trillion = $17 trillion

4 0

4 years ago