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3 years ago

Money market deposit accounts are a type of checking and investment account. True or False?

Business

2 answers:

liraira [26]3 years ago

3 0

Answer:

True

Explanation:

Money Market Deposit Accounts (MMDA) are a type of checking accounts with some investment’s characteristics. They have higher interest rates than regular passbook savings accounts and offer a few types of check writing and debit card transactions, with restriction (will depend on the bank or credit union rules). In that way, they can be seen as an investment account, has it has interest rates benefits over regular accounts and also as a checking account due to debit card and check writing uses.

gtnhenbr [62]3 years ago

3 0

its true, hes right. took the test

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Talja [164]

<h3>This scenario best illustrates the effect of the industry regulation component of on organizations by Safefen. </h3>

Explanation:

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3 years ago

Briefly explain the term market economy

Alchen [17]

Answer:

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3 years ago

At the end of the current year, Accounts Receivable has a balance of $675,000; Allowance for Doubtful Accounts has a debit balan

Bad White [126]

Answer and Explanation:

The computation is shown below:

The amount of the adjusting entry for bad debt expense should be

= $45,000 + $5,400

= $50,400

The journal entry should be

Bad Debt Expense Dr. 50,400

To Allowance for Doubtful Accounts Cr. 50,400

(Being the bad debt expense is recorded)

Accounts Receivable 675,000

Allowance for Doubtful Accounts 45,000

Bad Debt Expense 50,400

Accounts Receivable 675,000

Less: Allowance for Doubtful Accounts (45,000)

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3 years ago

Cogswell cola purchased a machine for $237,500. The firm paid another $5,750 for delivery and installation. In addition the firm

Novay_Z [31]

Based on the cost of purchasing the machine and the delivery and installation fees, the initial outlay is $243,250

<h3>How much is the initial outlay?</h3>

This can be found as:

= Cost of purchasing machine + Installation and delivery cost

Solving gives:

= 237,500 + 5,750

= $243,250

Find out more on fixed asset capitalization at brainly.com/question/25355478

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2 years ago

Old Time Savings Bank pays 3% interest on its savings accounts. If you deposit $3,000 in the bank and leave it there: (Do not ro

____ [38]

Answer:

Interest= $90

Explanation:

Giving the following information:

Initial investment= $3,000

i= 3%

Number of periods= 1

<u>First, we need to calculate the future value, using the following formula:</u>

FV= PV*(1+i)^n

FV= 3,000*1.03= $3,090

<u>Now, the interest earned:</u>

Interest= 3,090 - 3,000

Interest= $90

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3 years ago