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3 years ago

When opening a checking or share draft account, which would likely be the most important consideration?

Business

1 answer:

Nonamiya [84]3 years ago

7 0

Answer:

When opening a checking or share draft account, which would likely be the most important consideration?

The stability of the Union or bank in which you are opening your account.

What incentives are provided for you to open an account?

The interest rate. The easy access to my funds. The trackability of the transactions. The possible application for a credit in the future.

What is the current interest rate paid on funds left in the account?

In a High Rate account is 2,01% in a regular rate 1,90%

What are the terms and interest rates on their certificates of deposit (CDs)?

The terms may vary from 1 day until 2160 days.

6 months – 6 years: Goldman Sachs Bank USA – 0.60% APY – 2.35% APY; $500 minimum deposit to open.

30 days – 5 years: BrioDirect – 0.05% APY – 2.05% APY; $500 minimum deposit to open.

6 months – 5 years: Capital One – 0.60% APY – 1.60% APY; no minimum deposit to open.

What types of fees are charged for maintaining and using the account?

The $4 or $5 monthly maintenance fee.

The international withdrawls fee. (varies in each bank policy)

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A business owner makes 1,000 items a day. Each day she contributes eight hours to produce those items. If hired, elsewhere she c

Olin [163]

Answer:

Accounting profit=$300,000

Explanation:

Accounting profit is the difference between revenue from from production or service activities and the expenditures incurred.

It is the difference between the total revenue and the total explicit costs. Explicit costs are those transaction cost incurred to generate revenue . E.g the cost of the material , labour, expenses e.tc.

On the other hand, economic profit includes accounting profit plus opportunity cost. Opportunity cost is the value of the benefits sacrificed in favour of a decision.

Accounting profit = Sales revenue - Explicit cost

Sales revenue = Price × units sold= $15× 1000× 30 = $450,000 1

Explicit cost = $150,00

Accounting profit = $450,000- 150,000 = $300,000

Accounting profit=$300,000

Note we ignore the amount she could have earned because it is an implicit cost

4 0

4 years ago

Your boss has asked you to post a message on the company's internal blog, urging everyone in your department to donate money to

Bond [772]

Answer:

No because it's something u strongly believe in and are passionate about. sometimes it takes more than normal convincing to get a person's vote. Sometimes they need a few more facts or truth.

6 0

3 years ago

Business K exchanged an old asset (FMV $95,000) for a new asset (FMV $95,000). Business K’s tax basis in the old asset was $107,

cestrela7 [59]

Answer:

All requirements solved

Explanation:

A realized loss is the loss that is recognized when assets are sold for a price lower than the original purchase price

1.If Exchange was a taxable transaction:

Realized loss = $95,000 amount realised - $107,000 tax basis = $12,000

Recognized loss = $12,000

Tax basis in new asset = $92,000 cost

2. If the exchange was a non-taxable transaction:

Realized loss = $95,000 amount realised - $107,000 tax basis = $12,000

Recognized loss = $0

Tax basis in new asset = $104,000 substituted basis

3. If exchange was taxable,

Gain recognized on sale of new asset = ( $100,000 amount realized - $95,000 Tax basis)

Gain recognized on the sale of new asset = $7,000

If exchange was non taxable,

loss recognized on sale of new asset = $100,000 amount realized - $107,000 Tax basis

loss recognized on sale of new asset = $7,000

6 0

3 years ago

18) A company purchased $1,800 of merchandise on July 5 with terms 2/10, n/30. On July 7, it returned $200 worth of merchandise.

pav-90 [236]

Answer:

the amount of cash paid is $1,568

Explanation:

The computation of the amount of cash paid is shown below:

= (purchased value - returned goods) × (1 - discount rate)

= ($1,800 - $200) × (1 - 0.02)

= $1,600 × 0.98

= $1,568

hence, the amount of cash paid is $1,568

We simply applied the above formula so that the correct value could come

And, the same is to be considered

7 0

4 years ago

Depreciation Methods Vorst Corporation's schedule of depreciable assets at December 31, 2016, was as follows: Asset Cost Accumul

lions [1.4K]

Answer:

c. $14,400

Explanation:

Double declining depreciation method can be described as an accelerated depreciation technique which charges depreciation expense faster than the straight-line depreciation method, because double declining method obtains its depreciation rate by multiplying the rate of straight-line depreciation method by 2.

From the Vorst Corporation's schedule of appreciable assets at December 31, 2016, the following data are obtained for Asset A:

Cost = $100,000

Accumulated Depreciation = $64,000

Acquisition Date = 2015

Residual value = $20,000

Estimated useful life = 5 years

Therefore, we have:

Straight line method depreciation rate = 1 / Estimated useful life = 0.20, or 20%

Double declining depreciation rate = Straight line method depreciation rate * 2 = 40%

Beginning book value in 2017 = Cost - Accumulated Depreciation = $100,000 - $64,000 = $36,000

Depreciation expense for 2017 = Beginning book value in 2017 * Double declining depreciation rate = $36,000 * 40% = $14,400.

Therefore, Vorst should record $14,400 as depreciation expenses in 2017 for Asset A.

Important End Note:

Under the double declining depreciation method, residual is adjusted for in the last year of the estimated useful life of the asset.

Based on the information for Asset A, its last useful year is 2019 and that is why the residual value is not adjusted for in 2017 above.

6 0

4 years ago