All categories

3 years ago

A nonsufficient-funds check was returned to your company. How does the bank treat this on your bank statement?

Business

1 answer:

Anit [1.1K]3 years ago

8 0

Answer:

B. IT'S SHOWN AS A DEBIT MEMO

Explanation:

A bank creates a debit memo when it charges a company a fee on its bank statement, thereby reducing the balance in the company's checking account. Thus, if a bank account has a balance of $1,000 and the bank charges a service fee of $50 with a debit memo, the account then has a remaining balance of $950. Examples of charges that can cause debit memorandums are bank service charges, bounced (not sufficient funds) check fees, charges for the printing of check stock, and rental fees for the use of remote deposit capture scanners and software

You might be interested in

_____political activities include

anastassius [24]

I think the answer is c for this question tbh well yah

6 0

3 years ago

Carol Byrd gets a student rate of $30.00 a month for health insurance. There is a $250 deductible. She recently received treatme

e-lub [12.9K]

The company's payment = $1640,

Carol's total cost = $410.

<u>Given:</u>

Bill amount = $2300

Amount of deductible = $250

Remaining amount is given by:

=$2300-$250

=$2050

Since Carol's insurance company provided paid 80% of the bill less the deductible.

So, the Company's Payment is given by:

Company Pays 80% which translates to 0.8

Company Payment = 0.8*2050

Company Payment = $1640

Carol's total cost after the payment of company is given by

Carol pays = $2050 - $1640

Carol pays = $410

Hence, the company's payment was $1640, Carol's total cost was $410.

Learn more about Insurance on:

brainly.com/question/25855858

#SPJ4

8 0

1 year ago

Which careers are apart of the Finance career cluster?

elena-s [515]

Answer:

D, most likely

Explanation:

3 0

2 years ago

Read 2 more answers

Which of the following statements is CORRECT? Question 9 options: The AFN equation for forecasting funds requirements requires o

EastWind [94]

AFN has negative and positive sides. The correct statement is A negative AFN indicates that retained earnings and spontaneous liabilities are far more than sufficient to finance the additional assets needed.

AFN is known as Projected increase in assets – spontaneous increase in liabilities – any increase in retained earnings.

When the AFN value is negative, it means the action or project that is underwork will bring about extra income for the company, which can be invested in another place.

Additional funds needed (AFN) is known as financial term used when a business intends to widen its operations.

Learn more About AFN from

brainly.com/question/13203205

3 0

2 years ago

The shareholders’ equity of Tru Corporation includes $540,000 of $1 par common stock and $1,140,000 par of 7% cumulative preferr

Dmitry_Shevchenko [17]

Answer:

$12,600

Explanation:

Annual Dividend to preferred stock = $1,140,000 × 7%

= $79,800

A schedule of preferred stock dividend in Arrears is as follows :

Dividend Paid Arrears

2016 $79,800 $54,000 $25,800

2017 $79,800 $54,000 $51,600

2018 $79,800 $131,400 0

Dividends of $131,400 has to be paid in 2018 to cover all the arrears.

Principle : Preference dividends (and their arrears if cumulative) are paid first before dividends distribution to common stock holders.

Common Stock Holders receive the remaining amount of dividends of $12,600 ($144,000 - $131,400)

7 0

3 years ago