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3 years ago

Which type of bank account is best for everyday transactions

Business

2 answers:

Bingel [31]3 years ago

7 0

Answer:

The correct answer is Checking Accounts.

Explanation:

When choosing an account to use daily, you should always choose a checking account. This is because if our account is going to have movements every day, such as purchases, deposits or withdrawals, this will be the best option.

<u>It would not make sense to use a savings account since if we touched the money in that account constantly</u>, we could not save anything, since the bank would not generate interest.

Given this information, we can say that the best account for everyday transactions is checking account.

Elena-2011 [213]3 years ago

6 0

Answer:

Checking accounts

Explanation:

They are better for everyday transactions such as purchases, bills and ATM withdrawals.They also Have lower interest. Savings Accounts would be better for storing/Earning interest.

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gregori [183]

Answer:

review I think

Explanation:

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2 years ago

Cantrell Company is required by law to collect and remit sales taxes to the state. If Cantrell has $6,500 of cash sales that are

Mademuasel [1]

Answer:

Journal Entry

General Ledger Dr. Cr.

Cash $7,085

Sales Tax Payable $585

Sales $6,500

Explanation:

Sales tax is the amount of tax collected by the business on the taxable sales from customers on behalf of government and pay it to government after that. Sales tax will be included in the cash received from the customer and recorded as the payable for the business.

Sales Value = $6,500

Sales Tax = 9%

Sales inclusive of Sales tax = $6,500 x 109% = $6,500 x 1.09 = $7,085

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3 years ago

Margaret Williams, production manager at Williams Manufacturing, finds her profits at $15,000 inadequate for her business. The b

In-s [12.5K]

Answer:

22.22%

Explanation:

The calculation of percentage in sales is shown below:-

Increase in profit required = $25,000 - $15,000

= $10,000

To achieve a profit $10,000, the required sales increases

= $10000 ÷ 18%

= $55,555.55

Percentage increase in sale = Required sales ÷ Sales of current situation

= $55,555.55 ÷ $250,000

= 22.22%

So, for computing the percentage increase in sales we simply applied the above formula.

7 0

3 years ago

Many people in Rhenasia are spending less as there are only few good-paying jobs in the country. Many businesses in the country

scZoUnD [109]

Answer: Economy of the country.

Explanation:

The environmental characteristics affecting businesses in Rhenasia is the negative economy of the country. The country of Rhenasia is facing a recession in their economy, this has directly led to a drop in sale of businesses across the country.

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3 years ago

Trumbull Corporation budgeted sales on account of $120,000 for July, $211,000 for August, and $198,000 for September. Experience

GrogVix [38]

Answer:

a. $169,800

Explanation:

As for the provided information we have,

Sales data, for each month

July $120,000

August $211,000

September $198,000

Cash receipt budgeted for September shall be:

36% of sale of the month of July = $120,000 $\times$ 36% = $43,200

60% of sale of the month of August = $211,000 $\times$ 60% = $126,600

Thus, total expected amount = $169,800

Therefore, correct option is

a. $169,800

4 0

3 years ago