Answer:
B. Must be written to be enforceable
Explanation:
In the United state, sale of personal property for $500 or more must be written to be enforceable. These kind of contracts are said to be within the statute of fraud.
These types of contracts are called Sales contracts which is an agreement between the buyer and seller. For the amount of money involved, a written contract provides security and peace to the mind of all those involved in the contract, hence why deals above $500 must be written to be enforceable.
Processed by the cerebral cortex only
Answer and Explanation:
The journal entries are shown below"
On Aug 26
Cash Dr $768,000
To Common stock $640,000
To Additional paid in capital $128,000
(Being issuance of the common stock is recorded)
On Oct 1
Cash Dr $410,000
To preferred stock $410,000
(Being the issuance of the preferred stock is recorded)
On Nov 30
Cash Dr $187,000
To Common stock $170,000
To Additional paid in capital $17,000
(Being issuance of the common stock is recorded)
Answer:
b) help stop bank failures throughout the United States.
Explanation:
A bank run can be defined as a situation where bank clients or depositors make withdrawals of their money simultaneously from banks as a result of them being scared or afraid the depository institution will run out of cash (bankruptcy) and become insolvent.
The Federal Deposit Insurance Corporation which is also generally referred to as the FDIC was a New Deal program introduced by President Franklin D. Roosevelt in 1933 and it was designed to prevent bank failures or bank runs and restore the public's faith in the banking system.
Hence, the Federal Deposit Insurance Corporation (FDIC) was established on the 16th of June, 1933 so as to counter or mitigate the problem with bank runs.
Generally, the income generated from the premium payments of insured banks is used to fund or finance the Federal Deposit Insurance Corporation (FDIC).
Additionally, to avoid bank runs or other financial institutions from being insolvent, the Federal Reserve (Fed) and Central banks (lender of last resort) are readily accessible and available to give monetary funds to these institutions when they're running out of money and as well as regulate their activities.
In conclusion, the Federal Deposit Insurance Corporation (FDIC) was established in 1933, during the Great Depression, to help stop bank failures throughout the United States.
Answer:
The withdraw amount is "11,227.42".
Explanation:
The given values are:
In stock account,
PMT = $820
Interest rate = 
N = 300
PV = 0
In Bond account,
PMT = $420
Interest rate = 
N = 300
PV = 0
Now,
By using the FV (Future value) function, the value in Stock account will be:
= ![FV(rate,nper,pmt,[pv],[type])](https://tex.z-dn.net/?f=FV%28rate%2Cnper%2Cpmt%2C%5Bpv%5D%2C%5Btype%5D%29)
= 
By using the FV (Future value) function, the value in Stock account will be:
=
= 
After 25 years,
The value throughout the account, will be:
= 
= 
By using the PMT function, we can find the with drawling amount. The amount will be:
= ![PMT(rate, nper, pv, [fv], [type])](https://tex.z-dn.net/?f=PMT%28rate%2C%20nper%2C%20pv%2C%20%5Bfv%5D%2C%20%5Btype%5D%29)
= 
