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3 years ago

Elliot wants to open a checking account.

Business

2 answers:

Paraphin [41]3 years ago

5 0

Answer:

The common differences in benefits and or fees include :

1. Minimum opening amount

2. Withdrawal limitation - maximum spending or withdrawal depending on age

3. Cost of notification on transaction and monthly statement or hard copy statement fee.

4. Return deposit charge - fee charged on a bounced cheque

5.Overdraft charge - fee charge on unfulfilled commitment

Explanation: The benefits attached and the charges or fees incurred in managing a checking account may differ depending on the policy and business process of the financial establishment.

AnnyKZ [126]3 years ago

3 0

Answer:

The accounts may differ in minimum balance required, interest rate, ATM fees, overdraw protection, the monthly service fee, and the annual fee.

Explanation:

Please just trust me on this one (edg2020)

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Greg and Joyce have an adjustable rate mortgage on their home. What is the key feature of this type of loan?

vladimir1956 [14]

Answer: Interest rate can vary

Explanation: Based on the description of Greg's and Joyce's mortgage loan, the key term is the adjustable nature of the loan used to finance the mortgage. Being adjustable simply means not fixated. Hence, the interest on the loan is bound to change throughout the entire period of the loan. This type of mortgage loans are called ADJUSTABLE RATE MORTGAGE or FLOATING mortgage. The change in the interest rate applied on the outstanding balance of is usually at intervals which could be annually, semianually or monthly basis as the case may be.

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3 years ago

Which of the following is a potential advantage to working in a commercial fitness facility?A. Can work from homeB. In-house emp

nikklg [1K]

Answer: Option B

Explanation: In simple words, commercial fitness facility refers to the gymnasiums an other such facility centers where individuals can go and work out for a better health and fitness. In house training refers to the knowledge that an employee gains while working for an organisation.

Employees working in such facility centers have the advantage to learn new techniques and exercises while working and getting paid. These facilities core operations relates to training their clients and making them more healthy thus they have to train their employees properly so they can handle the clients.

While doing so employee would get an in house training for the work that he or she is going to perform in the future,

7 0

3 years ago

California Surf Clothing Company issues 1,000 shares of $1 par value common stock at $35 per share. Later in the year, the compa

erica [24]

Answer:

Dr Treasury Stock 3,800

Cr Cash 3,800

Explanation:

Preparation of the journal entry to Record the purchase of treasury stock.

Based on the information given we were told that the Clothing Company issues 1,000 shares which means that if the company made decision to purchase 100 shares at the amount of $38 per share later in the year the journal entry to Record the purchase of treasury stock will be :

Dr Treasury Stock 3,800

Cr Cash 3,800

(100 Shares x $38.00 per share)

(Being to record the purchase of treasury stock)

5 0

3 years ago

Four thousand bonds with a face value of $1,000 each, are sold at 104. The entry to record the issuance is Group of answer choic

Arisa [49]

Answer:

Dr Cash 4,160,000

Cr Premium on Bonds Payable 160,000

Cr Bonds Payable 4,000,000

Explanation:

Preparation of the entry to record the issuance

Based on the information given The entry to record the issuance is:

Dr Cash $4,160,000

[(4000*1000)*104%]

Cr Premium on Bonds Payable $160,000

($4,160,000-$4,000,000)

Cr Bonds Payable $4,000,000

(4000*1000)

(To record the issuance)

4 0

3 years ago

Martin Clothing Company is a retail company that sells hiking and other outdoor gear specially made for the desert heat. It sell

taurus [48]

Answer:

Martin Clothing company

July August

1. Budgeted cash collections $130,480 $128,260

2. Budgeted cash payments $137,000 $125,850

Explanation:

a) Data and Calculations:

Month Sales Purchases Cash Expenses Paid

May $96,000 $70,000 $19,000

June 121,000 87,000 24,000

July 133,000 117,000 33,500

August 127,000 72,000 33,600

May June July August

Sales $96,000 $121,000 $133,000 $127,000

Purchases 70,000 87,000 117,000 72,000

Expense 19,000 24,000 33,500 33,600

Cash Collections:

May June July August

Sales $96,000 $121,000 $133,000 $127,000

Collections:

65% cash $62,400 $78,650 $86,450 $82,550

14% month 13,440 16,940 18,620 17,780

21% following 20,160 25,410 27,930

Total collections for July and August $130,480 $128,260

Cash payments:

May June July August

Purchases 70,000 87,000 117,000 72,000

55% $38,500 $47,850 $64,350 $39,600

45% 31,500 39,150 52,650

Expense 19,000 24,000 33,500 33,600

Payments for July and August $137,000 $125,850

8 0

3 years ago