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3 years ago

Which of the following items may be a good consideration in selecting a bank?

Business

2 answers:

Lana71 [14]3 years ago

8 0

Answer:

B: II and III

Explanation:

Orlov [11]3 years ago

7 0

Answer:

Number of ATMs or bank branches near where you live, shop, work, or travel.

Explanation:

As much as possible, your bank should be near where you live, shop, or work. The proximity will be advantageous in various ways, including.

It will reduce costs by eliminating transport expense in banking operations.
Proximity will foster a better business relationship with the bank. There are higher chances of meeting banking officials out of the work environment, which is likely to improve the relationship.
Should there issues that need resolution in the bank, you will be able to resolve them more quickly.
Formal communication between you and the bank will be enhanced. Banks use hard copy documents for the majority of their official transactions. Being close to the bank will make communication faster.

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On September 1, 2018, Able Company purchased a building from Regal Corporation by paying $580,000 cash and issuing a one-year no

Nataly_w [17]

Answer:

1. Able must pay Regal Corporation $599,400 on September 1, 2019, when the note matures.

2. The amount of Interest Able will recognize on this Notes Payable is 39,600

3. The total cash (including interest) paid for the building purchased by Able is $1,179,400

4. Payroll related expense does not come into picture in this question. So it is not answered.

Explanation:

1. According to the given data we have the following:

Rate of Interest = 11%

Therefore:

Year Amount Interest

September 1, 2018 $540,000

December 31, 2018 $19,800

September 1, 2019 $39,600

Total $540,000 $59,400

Therefore, Total Payable=Notes payable+Interest 540000 Total Payable= $540,000+$59,400

Total Payable=$599,400

Able must pay Regal Corporation $599,400 on September 1, 2019, when the note matures.

2. The amount of Interest Able will recognize on this Notes Payable is 39,600

3. To calculate The total cash paid for building purchased by Able including interest we have to make the following calculation:

Total cash paid for purchase of building=Cash paid at the time of purchase of building+Notes payable+Interest

Total cash paid for purchase of building=$580,000+$540,000+$59,400

Total cash paid for purchase of building=$1,179,400

The total cash (including interest) paid for the building purchased by Able is $1,179,400

4. Payroll related expense does not come into picture in this question. So it is not answered.

6 0

3 years ago

ivanzaharov [21]

Answer:

1. Bird Company (Buyer)

Apr-02 Dr Merchandise Inventory $20,335

Cr Accounts Payable $20,335

Apr-08 Dr Merchandise Inventory $25,000

Cr Accounts Payable $25,000

Apr-08 No entry

Apr-12 Dr Accounts Payable $20,335

Cr Cash $19,937

Cr Merchandise Inventory $ 398

Apr-18 Dr Cash $ 2,000

Cr Merchandise Inventory $ 2,000

Apr-23 Dr Accounts Payable $25,000

Cr Cash $24,750

Cr Merchandise Inventory $ 250

Apr-24 Dr Merchandise Inventory $11,200

Cr Accounts Payable $11,200

Apr-26 Dr Merchandise Inventory $280

Cr Cash $280

2.Swan Company (Seller)

Apr-02 Dr Accounts Receivable $20,335

Cr Sales Revenue $19,900

Cr Cash $435

Dr Cost of Goods Sold $12,500

Dr Merchandise Inventory $12,500

Apr-08 Dr Accounts Receivable $ 25,000

Cr Sales Revenue $ 25,000

Dr Cost of Goods Sold $15,000

Cr Merchandise Inventory $15,000

Apr-08 Dr Delivery Expense $650

Cr Cash $650

Apr-12 Dr Cash $19,937

Dr Sales Discounts $ 398

Cr Accounts Receivable $20,335

Apr-18 Dr Sales Returns and allowances $ 2,000

Cr Cash $ 2,000

Apr-23 Dr Cash $ 24,750

Dr Sales Discounts $ 250

Cr Accounts Receivable $25,000

Apr-24 Dr Accounts Receivable $11,200

Cr Sales Revenue $11,200

Dr Cost of Goods Sold $6,700

Cr Merchandise Inventory $6,700

Apr-26 No entry

Explanation:

1. Preparation of the journal entry for Bird Company (the buyer).

Bird Company (Buyer)

Apr-02 Dr Merchandise Inventory $20,335

Cr Accounts Payable $20,335

($19,900+$435)

Apr-08 Dr Merchandise Inventory $25,000

Cr Accounts Payable $25,000

Apr-08 No entry

Apr-12 Dr Accounts Payable $20,335

($19,900+$435)

Cr Cash $19,937

($20,334-$398)

Cr Merchandise Inventory $ 398

($19,900*2%)

Apr-18 Dr Cash $ 2,000

Cr Merchandise Inventory $ 2,000

Apr-23 Dr Accounts Payable $25,000

Cr Cash $24,750

($25,000-$250)

Cr Merchandise Inventory $ 250

(1%*$25,000)

Apr-24 Dr Merchandise Inventory $11,200

Cr Accounts Payable $11,200

Apr-26 Dr Merchandise Inventory $280

Cr Cash $280

2. Preparation of the journal entry for Bird Company the (Seller).

Swan Company (Seller)

Apr-02 Dr Accounts Receivable $20,335

($19,900+$435)

Cr Sales Revenue $19,900

Cr Cash $435

Dr Cost of Goods Sold $12,500

Dr Merchandise Inventory $12,500

Apr-08 Dr Accounts Receivable $ 25,000

Cr Sales Revenue $ 25,000

Dr Cost of Goods Sold $15,000

Cr Merchandise Inventory $15,000

Apr-08 Dr Delivery Expense $650

Cr Cash $650

Apr-12 Dr Cash $19,937

($20,335-$398)

Dr Sales Discounts $ 398

(2%*$19,900)

Cr Accounts Receivable $20,335

(19,900+435)

Apr-18 Dr Sales Returns and allowances $ 2,000

Cr Cash $ 2,000

Apr-23 Dr Cash $ 24,750

Dr Sales Discounts $ 250

(1%*25,000)

Cr Accounts Receivable $25,000

Apr-24 Dr Accounts Receivable $11,200

Cr Sales Revenue $11,200

Dr Cost of Goods Sold $6,700

Cr Merchandise Inventory $6,700

Apr-26 No entry

4 0

3 years ago

As an auditor for Bernard and Thomas, you are responsible for determining the proper classification of income statement items in

sdas [7]

Answer:

a. One of the company's restaurants was destroyed in a forest fire that raged through Southern California. Uninsured losses from the fire are estimated to be $450,000: Other expenses.

b. California Sports Grill has three operating divisions: restaurants, catering, and frozen retail foods. The company sells the frozen retail foods division of the business for a profit of $2.4 million in order to focus more on the restaurant and catering business: Discontinued operations.

c. An employee strike to increase wages and benefits shut down operations for several days at an estimated cost of $200,000: Other expenses.

d. A restaurant waiter slipped on a wet floor and sued the company. The employee won a settlement for $100,000, but California Sports Grill has not yet paid the settlement: Other expenses.

e. The company owns and operates over 40 restaurants but sold one restaurant this year at a gain of $650,000: Other revenues.

Explanation:

Other expenses in business management are non-operating expenses that a business incurs. It is a cost that isn't related to the main operation of a company's business, such as interest expense, losses incurred from disposal of a fixed asset.

Other revenues in business are revenues that are derived by a company from any source other than the company's business operations, such as a company selling one of it's restaurants.

Discontinued operations in business describes a situation where parts of a company's core business are sold, abandoned or shut down and all the profits or losses are usually reported separately on an income statement.

6 0

3 years ago

The threat of new entrants in Porter's Five Forces analysis is often the most important force affecting an industry. In the food

anygoal [31]

Answer:

Barrier to entry

Explanation:

Barrier to entry is defined as an economic barrier or obstacle set in place to deter new competitors from entering a market easily. It can also be said to be a fixed cost or set of conditions put in place for any new entrant into a market.

These barrier to entry include restriction of licenses, high cost of starting up the business among other things.

The sole reason for creating a barrier to entry is for existing firms in the market to make profits and protect their revenues as well.

Barrier to entry can either be zero barrier, medium barrier, high barrier or very high barrier. All of these depends on the type of market that the entrant is trying to break into.

I hope this helps.

4 0

3 years ago

Which of the following describes the concept of leadership

Nina [5.8K]

The concept of leadership is leading followers by using the qualities of a leader such as, respect, empathy, charismatic personality, sense of justice, mastery, responsibility, trust. using all of these things to lead people and help them grow. Not acting as a boss but someone that is guiding.( Hope this helps, I have a leadership class and this is what we learned.)

3 0

3 years ago