All categories

3 years ago

How much money do a bank make daily

1 answer:

8 0

On savings accounts, banks make money by paying depositors virtually no interest. Most major banks pay an interest rate of only 0.01% on their savings accounts. And then they use the money customers deposit to make loans at much higher rates. So, we are basically giving interest-free loans to banks. and by the end of the year they will have over a million dollars.

You might be interested in

Why is it important for engineers to have good communication skills?

Orlov [11]

To be able to fix the thing that are broken and to communicate with each other

4 0

3 years ago

Which of the following is the best way to measure who read the company's public relations message and what they thought about it

algol [13]

Answer:

a. Ask consumers for relevant feedback after the campaign

Explanation:

The company's public messages in order to establish a relationship with the clients or its costumes have to be essentially exposed through the mediums like campaigns and the media to get relevant feedback form them and helps in the analysis if its future scope.

These messages target the key audiences and use all mediums of communication like PR events.

6 0

3 years ago

On January 1, 2018, Surreal Manufacturing issued 600 bonds, each with a face value of $1,000, a stated interest rate of 3 percen

Hoochie [10]

Answer:

Period Bonds Interest Cash Increase in Bonds payable

Payable Expenses Paid Bonds payable at the end

2018 583352 23334.08 18000 5334.08 588686.1

2019 588686.1 23547.44 18000 5547.44 594233.5

2020 594233.5 23766.48 18000 5766.48 600000

Journal entries

Jan 01 2018

Cash account Dr $583352

Discount on Bonds Payable Dr $16648

Bonds payable Cr $600000

Dec 31 2018

Interest expense Dr $23334.08

Cash account Cr $18000

Discount on bonds Payable Cr $5334.08

Dec 31 2019

Interest expense Dr $23547.44

Cash account Cr $18000

Discount on bonds Payable Cr $5547.44

Dec 31 2020

Interest expense Dr 23766.48

Cash account Cr $18000

Discount on bonds Payable Cr $5766.48

Dec 31 2020

Bonds Payable Dr $600000

Cash account Cr $600000

01.01.2020 (Redemption at 101)

Bonds Payable Dr $600000

Loss on redemption of bonds Dr $11766.48

Cash account (600000*101%) Cr $606000

Discount on bonds payable Cr $5766.48

8 0

3 years ago

Which of the following errors would cause the adjusted trial balance to be unequal? a.The adjustment for accrued fees of $16,340

STALIN [3.7K]

Answer:

The answer is: B)The adjustment for prepaid insurance was omitted.

Explanation:

The adjusted trial balance is the last step before producing the financial statements of a company. Its format is identical to unadjusted balances, it has three columns: account names, debits and credits. The debit and credit columns are calculated at the bottom and should always be equal. If they aren’t equal, the trial balance was prepared incorrectly.

The only error that would cause the adjusted trial balance to be unequal (debts ≠ credits) is; The adjustment for prepaid insurance was omitted. Prepaid insurance should be debited and cash (or accounts payable) should be credited.

6 0

3 years ago

Coca-cola provides a children's center with props, costumes, and decorations for use in a community play. this type of activity

lesya692 [45]

Coca-cola provides a children's center with props, costumes, and decorations for use in a community play. this type of activity is known as sponsorship. Coco-cola is sponsoring the children's center by giving/donating items to the children's center. Normally, these items will have the logo or brand of company that is giving donations on the items so that when people see them, they think of the company.

8 0

3 years ago