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3 years ago

Please answer the questions you can

Business

1 answer:

ValentinkaMS [17]3 years ago

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Answer:

11. Explain the primary functions of a commercial bank.

The Primary function of a commercial bank is to offer loans to individuals and businesses.

Explanation

A commercial bank receives money mostly from individuals and businesses opening saving or current accounts. Then they use these deposits to lend money to other businesses or individuals. This is possible because commercial banks only need to keep the 10% of the deposits made in a savings or current account.

Other functions of commercial banks are to offer security to the funds deposited by their customer, teach the customers financial education and give them possibilities of investment such as Certificate Term Deposits

17. Describe the procedure of opening a savings bank account in a bank

The procedure for opening a savings bank account is:

1. Fill in the application form.

2. Present the following documentation with your application: government-issued identification (a driver's license number, military ID, or other ID), your Social Security number, and a mailing address.

3. Go to a bank branch or to its website and open the account.

4. Make the initial deposit if required.

Explanation:

Opening a savings account will require that you identify yourself to the bank with a document that proves who you are, where you live, how old are you and how to contact you. This basic information is gathered in an application form that will be filed as the banks support in front of the regulators in case of an audit and will prove that you are a real person.

Afterwards the bank takes that information and check that everything is true and legal. After making that investigation you are granted with an account number and a card that you might use in any ATM to withdraw money.

For the las step of the opening of a bank account you need to deposit money so you have funds to save or make purchases.

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Cortez Company sells chairs that are used at computer stations. Its beginning inventory of chairs was 100 units at $60 per unit.

zzz [600]

Answer:

Kindly refer to the attached table for breakdown of answers

Explanation:

FIFO is a costing method that assigns costs to production based on a First in First out basis. Meaning the oldest stocks are transferred to production before the earlier purchased stock

LIFO is a costing method which assigns costs to production on the newness of the stock item, that is Last in First out. The latests stock is always the first to be transferred to production

Weighted Average attempts to find a mix between FIFO & LIFO by employing a uniform valuation based on total value of stock divided by the Quantity of stock available at every point in time.

Cost of Goods sold is the relative cost associated with the sales volume based on the cost method adopted of the 3 listed above

And Closing inventory is the valuation of the stock left over at year end based on the Costing method earlier employed.

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8 0

3 years ago

Read 2 more answers

______ can be used by a manufacturing firm to generate computerized documents sent to the supply chain members to signal that pr

kolbaska11 [484]

Answer:

The answer is Application Programming Interface (API)

Explanation:

API is a virtual portal that allows tokenized set of data to be transmitted among many parties. By tokenize data and transmit through APIs, parties can get the required data quicker and more secured. In the example, computerized documents can be transmitted among supply chain members to signal that products and materials need to be pulled.

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3 years ago

Which of the following is an advantage to using cash?

Helga [31]

A) Accepted everywhere

Explanation

A is the correct answer because paper money and change being accepted everywhere makes it a lot easier to use than other forms of payment which may not be accepted.

B cannot be the answer because a paper trail not being automatically created is not a good thing. If someone wished to track their purchases, it would be much harder to do so.

C cannot be the answer because it is very inconvenient to use physical money for large purchases because it often requires some sort of container for transportation and can be easily stolen or taken if the amount of money is revealed.

D cannot be the answer because an item being easy to lose cannot be a good thing unless one wishes to lose that item. Typically, one does not wish to lose money, so this answer would not work.

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3 years ago

Minaret, Inc., issued 10,000 shares of $50 par value preferred stock at $68 per share and 12,000 shares of no-par value common s

umka2103 [35]

Journal entries are described as follows:

The journal entry for preferred stock is recorded as a debit to cash by $680,000 and credit to preferred stock by $500,000 and the rest of the amount is transferred to additional capital at $180,000 and the journal entry for common stock with no stated value is recorded as a debit to cash and credit to common stock with equal amounts of $180,000.
The journal entry for common stock at stated value is recorded as a debit to cash by $ 180,000 and credit to common stock and additional capital with $48,000 and $132,000.
The journal entry for common stock at modified par value is recorded as a debit to cash by $ 180,000 and credit to common stock and additional capital with $24,000 and $156,000.

<h3>What is a journal book?</h3>

A journal book is an accounting book firstly prepared by a company to record monetary transactions in a specified format.

The journal entries are recorded as follows:

Date Particulars Debit (in $) Credit (in $)

A) Cash (10,000 X $68) 680,000

Preferred stock (10,000 X $50) 500,000

Additional capital (10,000 X $18) 180,000

(To record the issue of preferred stock)

Cash (12,000 X $15) 180,000

Common stock 180,000

(To record the issue of common stock

with no stated value)

B) Cash (12,000 X $15) 180,000

Common stock (12,000 X $4) 48,000

Additional capital (12,000 X $11 ) 132,000

(To record the issue of common stock

with stated value at $4 per share)

C) Cash (12,000 X $15) 180,000

Common stock (12,000 X $2) 24,000

Additional capital (12,000 X $13 ) 156,000

(To record the issue of common stock

with par value at $2 per share)

Therefore, the journal entries are recorded as mentioned and explained above.

Learn more about the journal entries in the related link:

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2 years ago

If Barcelona has a core staff of restaurant managers and head chefs and contracts with staffing agencies to fill all other posit

Readme [11.4K]

Answer: network structure

Explanation:

Network structure is a form of organizational structure that is considered to be less hierarchical and also more flexible than most other organizational structures. In a network structure, it is the managers who usually both the internal and external relationships.

Barcelona has a core staff of restaurant managers and head chefs and contracts with staffing agencies to fill all other positions, from accountants to dishwashers, then the company has a network structure.

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4 years ago