Answer:
Check Clearing
Explanation:
The process by which bank records which account gives up money is called check clearing. Check clearing is the process by which banks record whose account gives up money and whose account receives money when a customer writes a check. A bank holding company is a company that owns multiple banks.
Answer:
A. The first cash flow of an annuity due is made on the first day of the agreement.
G. The last cash flow of an ordinary annuity is made on the last day covered by the agreement.
Explanation:
The computation is shown below:
As we know that
Future value after 4 years is
= Annual deposit × Cumulative FV factor at 9% for 4 periods of an ordinary annuity
= $6,000 × 4.57313
= $27,439
Therefore the above statements are true and the same is to be considered
Hence, all other statements are incorrect
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The last step in making a personal budget is to reduce expenses in flexible categories. The correct option among all the options given in the question is option "B". Under normal circumstances, a person cannot make the adding up all sources of income as the last step. Then the expenses will not get added. The flexible expenses are expenses that can always be reduce or are not important expenses. The basis of making the budget is to reduce those unnecessary expenses. So the last step should always be to find ways to reduce the flexible or unwanted expenses.
Answer:
March 31
Dr. Payroll Tax Expense: 3071.25
Cr. FICA- Social security taxes payable:
1395
Cr. FICA- Medicare taxes payable:
326.25
Cr. SUTA-State unemployment taxes payable:
1215
Cr. FUTA- Federal unemployment taxes payable: 135
Explanation:
March 31
Dr. Payroll Tax Expense: 3071.25
Cr. FICA- Social security taxes payable:
(6.2%×$2,250) 1395
Cr. FICA- Medicare taxes payable:
(1.45%×$2,250) 326.25
Cr. SUTA-State unemployment taxes payable:
(5.4$×$2,250) 1215
Cr. FUTA- Federal unemployment taxes payable: (0.6%×$2,250) 135
