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3 years ago

____ institutions accept and manage customer deposits in checking and savings accounts.

Business

1 answer:

gtnhenbr [62]3 years ago

6 0

Answer:

The correct answer is depository institutions.

Explanation:

We denominate Depository institution to financial entities that can legally receive and manage monetary deposits from costumers.

This institution serves as a way to keep a person's money securely, and thus achieve the physical security of the person who owns the money, since having a certain amount of money with himself can be dangerous.

A client will give his money to a depository institution, which also have several types of bank accounts, and when the client wishes, that money will be returned.

The depository Institution, while saving your money, can use it to make investments or to lend to other costumers.

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Prepare the journal entries for Mayhem Manufacturing:

Rama09 [41]

Organization Expenses Dr 7,500
Cash 7,500

June 14 Cash Dr 120,000
Common Stock 110,000
Paid-In Capital in Excess of par value—Common 10,000

June 22 Cash Dr 120,000
Preferred Stock 90,000
Paid-In Capital in Excess of par value—Preferred 30,000

6 0

3 years ago

A business with a differentiation strategy will add cost to an activity only as long as the activity has a positive margin.

Vladimir [108]

That is not a question it is a statement. However yes, businesses tend to increase the price of an activity the more customers react positively to the activity.

3 0

3 years ago

A company assigns overhead using a plantwide rate. If total estimated manufacturing overhead is $900,000 and the total estimated

ozzi

Answer:

Overhead application rate

= Budgeted overhead

Budgeted machine hours

= $900,000

30,000 hours

= $30 per machine hour

Overhead cost assigned to the product

= Overhead application rate x Actual machine hours

= $30 x 12,000 hours

= $360,000

Explanation:

In this case, there is need to determine the overhead application rate, which is the ratio of budgeted overhead to budgeted machine hours.

Then, we will obtain the overhead cost assigned to the product by multiplying the overhead application rate by actual machine hours.

3 0

3 years ago

The _____ for an activity is the latest possible time an activity might begin without delaying the project finish date.

muminat

Answer:

The correct answer is A that is late start date.

Explanation:

Late start date is the filed which comprise of the latest date on which a task could be started without delaying the finish of the project.

The date is grounded on the date when the task is started and also on the late start of the task, late finish dates of the tasks predecessor and the successor as well and also on other constraints.

So, the late start date for the activity is the latest possible time.

7 0

3 years ago

Psymon Company, Inc. sells construction equipment. The annual fiscal period ends on December 31. The following adjusted trial ba

Anestetic [448]

Answer:

1. Multi-step income statement Internal Reporting Purposes

Sales Revenue 258,500

Less Sales Returns and Allowances (8,700)

Less Sales Discounts (11,400)

Net Sales 238,400

Less Cost of Goods Sold (138,800)

Gross Profit 99,600

Less Operating Expenses :

Salaries and Wages Expense 23,800

Office Expense 24,800 (48,600)

Operating Income/(loss) 51,000

Less Non- Operating Expenses :

Interest Expenses 3,700

Income Tax Expense 14,190 (17,890)

Net Income/Loss 33,100

2. Multi-step income statement External Reporting Purposes

Net Sales 238,400

Less Cost of Goods Sold (138,800)

Gross Profit 99,600

Less Operating Expenses :

Salaries and Wages Expense 23,800

Office Expense 24,800 (48,600)

Operating Income/(loss) 51,000

Less Non- Operating Expenses :

Interest Expenses 3,700

Income Tax Expense 14,190 (17,890)

Net Income/Loss 33,100

Explanation:

It is important to remember that a multi-step income statement shows separately profit earned from Primary Activities of the firm and that earned from Secondary Activities.

There are no strict rules for preparation of Financial Statements for Internal use and this may include many other line items. However for external reporting proposes, preparers of financial statements have to comply with Accounting Standards (GAAP or IFRS).

8 0

3 years ago