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4 years ago

Which of the following is not a type of bank?

1 answer:

3 0

Before we can answer which of the following is not a type of bank, we need to know first the definition of a bank. A bank is a financial institution who is licensed and allowed to collect, receive money, manage your account and keeps your money secured. Banks also offer services, credits and loans. There are two types of bank, namely, commercial and investment banks.

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PLEASE HELP ME!!!!!!!! Shannon spent time removing the background of an image in her PowerPoint presentation. She then saved the

Aleksandr-060686 [28]

B I think not 100% sure sorry

5 0

4 years ago

Uniform Supply accepted a $6,300, 90-day, 8% note from Tracy Janitorial on October 17. If the note is dishonored, but Uniform Su

Dovator [93]

Answer:

Debit Cash $6,426; credit Interest Revenue $21; credit Interest Receivable $105, redit Notes Receivable $6,300.

Explanation:

Based on the information given the appropriate journal entry that Uniform Supply should make on January 15 of the next year will be:

Debit Cash $6,426

($6300+$105+$21)

Credit Interest Revenue $21

($6300*8%*15/360)

Credit Interest Receivable $105

(6300*8%*75/360)

Credit Notes Receivable $6,300

6 0

3 years ago

EB10.

mafiozo [28]

Answer:

The question is incomplete; the complete question is given below.

Cost Pool Cost Driver Estimated Cost Driver Estimated Overheads

Material Material requisition 250,000.00 $105,000.00

Machining Machine hours 360, 750 $432,900.00

Inspection Number of inspections 25,000.00 $15,750.00

Answer:

Overhead rate per activity :Material- $0.42, Machining-$1.2, Inspection-$6.3

Explanation:

Activity-based costing aims to achieve better product pricing than traditional absorption cost by charging overheads to the product cost more accurately.

Activity-based costing uses cost drivers to charge overheads to cost unit as against the use of of volume-based bases like labour hours, machine hours. Overheads are first traced to the activities responsible for them- the sum is called cost pool. Cost pools are then absorbed into the cost unit using cost driver rates

Cost pool- the sum of the total overheads associated with an activity. E.g $105,000 material requisition overheads.

Cost driver: A factor that causes a change in the cost pool. E.g

250,000 material requisitions.

Cost per driver: A specific overhead absorption rate computed for an activity. It is calculated as follows:

Cost per driver = Estimated activity overheads/Total number of cost drivers

The predetermined overhead rate for each activity is calculated as follow;

Material requisition= $105,000/250,000 requisitions= $0.42 per requisition

Machining = $432,900/360,750 machine hours = $1.2 per machine hour

Inspection= $15,750/ 25,000 inspections = $6.3 per inspection

8 0

4 years ago

Halogen Laminated Products Company began business on January 1, 2021. During January, the following transactions occurred:

Diano4ka-milaya [45]

Answer:

1. General journal entries to record each transaction.

Jan. 1 Dr. Cr

Cash $103,000

Common Stock $103,000

Jan. 2 Dr. Cr

Inventory $38,000

Account Payable $38,000

Jan. 4 Dr. Cr

Prepaid Insurance $2,760

Cash $2,760

Jan. 10 Dr. Cr

Account Receivable $12,300

Sale $12,300

Cost of Goods Sold $7,300

Inventory $7,300

Jan. 15 Dr. Cr

Cash $33,000

Note Payable $33,000

Jan. 20 Dr. Cr

Salary Expense $33,000

Cash $33,000

Jan. 22 Dr. Cr

Cash $10,300

Sale $10,300

Cost of Goods Sold $6,300

Inventory $6,300

Jan. 24 Dr. Cr

Account Payable $15,300

Cash $15,300

Jan. 26 Dr. Cr

Cash $6,150

Account Receivable $6,150

Jan. 28 Dr. Cr

Utility Expense $1,000

Cash $1,000

Jan. 30 Dr. Cr

Rent Expense $2,150

Prepaid Rent $2,150

Cash $4,300

MS Excel File is attached for T accounts Posting in Worksheet Named as " T Account". Please Find that.

MS Excel File is attached for unadjusted trial balance in Worksheet Named as " Trial Balance". Please Find that.

Download xlsx

5 0

3 years ago

Becky only eats out at Macaroni Grill and eats out 3 times per month. She receives a raise fro $31,900 to $33,500 and decided to

ololo11 [35]

Answer:

Since elasticity is 6.4, a positive figure,it is normal good and the fact that it is greater than one means it is elastic,hence option A is correct

Explanation:

The formula for income elasticity of demand is given as:

/(new quantity-old quantity)//(old price+new price)/2)/(New income-Old income)/(old income+new income)/2)

New income=$33,000

Old income=$31,900

New quantity =5 times

Old quantity=3 times

Hence=(5-3)/(3+5)/2)/(33500-31900)/(31900+33500)/2)

Elasticity=6.45

6 0

3 years ago