The PRIMARY function of banks in the United States is to?
ANSWER:
D. Provide checking and savings accounts to customers.
If your ending balance is $159.57, you can then add in the outstanding deposits of $147.96 to get the total of $307.53. Then from that total, subtract the outstanding checks that total $223.85 which gives you the checkbook balance of $83.68.
Answer:
E) $609,000
Explanation:
amount received by Eagle Corp. = bond selling price + accrued interest
= (bond price x quantity of bonds x face value) + (interest x months x quantity of bonds x face value) =
= (0.99 x 600 bonds x $1,000 per bond) + (10% x 3/12 x 600 bonds x $1,000 per bond)
= $594,000 + $15,000 = $609,000
Answer:
$9.00
Explanation:
Note: See the attached file for the calculation of PV of year 1 to 7 dividends.
Price at year 7 = year 8 dividend / (Rate of return - Perpetual growth rate) = (0.5747245056 * 1.05) / (10% - 5%) = $12.0692146176
PV of price at year 7 = $12.0692146176 / (1.10)^7 = $6.19341546169015
Current price = Sum of PV of years 1 to 7 dividends + PV of price at year 7 = $2.81096656749202 + $6.19341546169015 = $9.00
Answer:
$317,500
Explanation:
The computation of the amount of bad debt expense is shown below:-
Bad debt expenses = (Accounts receivable × Outstanding receivable percentage) - Opening Allowance for doubtful debts
= ($6.57 million × 5%) - $11,000
= $317,500
Therefore for computing the bad debt expense we simply applied the above formula.
