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Juliette [100K]
3 years ago
14

Checking accounts at a local bank carry an average balance of $3,000. The bank turns over its balance 6 times a year.

Business
1 answer:
SIZIF [17.4K]3 years ago
5 0

Answer:

$1500

Explanation:

The average cash is $3000 which is turned over 6 six times a year.

In other words average cash that flowed through the bank on monthly basis is computed thus:

average monthly cash=(average cash *rate of cash turnover)/12months

                                      =($3000*6)/12months

                                       =$1,500.00

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<span>Active endeavors specializes in sporting equipment. Recently, it has decided to add to its business units by opening a steakhouse near a convention center. This strategy is an example of: conglomerate diversification. 

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3 years ago
ABC Inc. has a dividend yield equal to 3 percent and is expected to grow at a 7 percent rate for the next seven years. What is A
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Answer:

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2 years ago
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Kimbeth Manufacturing uses process costing to control costs in the manufacture of Dust Sensors for the mining industry. The foll
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Answer:

DM Cost per Equivalent unit: 4.25

Explanation:

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