The main benefit that a 401(K) provides for a person over an IRA is that of e. <u>Employer's contribution. </u>
<h3>What separates an IRA from a 401(K)?</h3>
An Individual Retirement Account (IRA) by definition is a pension investment vehicle that is funded by the person who uses it to save for their retirement.
401(K)s on the other hand, have the benefit of being contributed to by employers. This allows for higher amounts to be invested, and lower amounts to be used for investing by the person who owns the 401(K).
Find out more on types of Individual Retirement Accounts (IRA) at brainly.com/question/13032524.
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The correct answer is drawing account
Answer:
A) Cash (debit) 180,000; Common stock (credit) 150,000; Additional paid-up capital-common stock (credit) 30,000 - Debit - Credit = 0
B) Cash (debit) 255,000; Preferred stock (credit) 250,000; Additional paid-up capital-preferred stock (credit) 5,000 - Debit - Credit = 0
C) Cash (debit) 900,000; Common stock (credit) 600,000; Additional paid-up capital-common stock (credit) 300,000 - Debit - Credit = 0
Explanation:
In Eastport Inc.´s case all 3 situations are similar, shares (Stockholders´Equity) increased, so credits in 4 accounts, according to the type of shares that are issued, must be registered: Common stock, Preferred stock, Additional paid-up capital-common stock, Additional paid-up capital- preferred stock. We will recognize the par value and stated value of the shares and the difference between this and the price paid by shareholders will be recognized as additional paid-up capital. Also, cash (Asset) is received as payment for the shares so a debit must be registered in the account Cash.
Answer:
Collection float
Explanation:
Collection float is defined as the time interval between check payment made into a bank and the time the payment is cleared and credited to the beneficiary.
It is also caused when check payment received are not yet deposited or checks posted by customer but it is not yet received.
It is a major factor of discrepancy between the bank statement and the cash book record .
