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3 years ago

Which type of account typically has very high liquidity, low or no interest, and low minimum balance?

1 answer:

7 0

I would say that it is a CHECKING ACCOUNT. The answer for this would be option A. This type of account can be accessed anytime which makes its liquidity very high, but on the other side, this has very low interest and the minimum balance required is also low. Hope this helps.

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Below are transactions for Wolverine Company during 2021.On December 1, 2021, Wolverine receives $4,000 cash from a company that

Nutka1998 [239]

Answer: Please see explanation column for answers

Explanation:

Journal for December 2021

A)To record advance in rent from customers

Date Account. Debit Credit

Dec 31 Deferred

Revenue. $2,000

Rent Revenue. $2,000

Reason--->The rent is paid for 2 months in advance ie January and December, but since the adjusting entry is for only December, we will divide .$4000 / 2=

$2,000 as Rent revenue earned.

B) To record Insurance expense

Date Account. Debit Credit

Dec 31 Insurance

Expense. $6,600

Prepaid insurance $6,600

Reason-- The company paid in advance but we consider only from July to December which is 6months as we are only preparing entry for December

Insurance Expense =13,200x 6/12=

$6600

C) To record accrued Salary

Date Account. Debit Credit

Dec 31 Salary

Expense. $3000

Salary payable $3,000

But will be paid next year.

D) To record accrued interest on loan borriwed

Date Account. Debit Credit

Dec 31 Interest

Expense. $250

Interest payable $250

Calculation

Interest =PxRxT=15,000 X 10%x 2/12=$250

Accrued interest from date of loan which is November to December the date of journal entry will be considered

E)To record supply expense for the year

Date Account. Debit Credit

Dec 31 Supply

Expense. $3,900

Supply $3,900

Calculation=

Supply expense=Supply at the onset +purchased supply - used supply.

1000 +3400 -500=$3,900

4 0

3 years ago

Consultant susan wheelan encourages appointed leaders to adjust their leadership style to the group's:

brilliants [131]

Answer:

The correct answer is stage of development.

Explanation:

Leadership is a process, not a punctual act. A person does not go from having little impact on others to having a great influence from one day to another, it takes an evolution and especially the necessary step through the 4 stages of leadership.

When we analyze the different types of leaders that have an impact, we realize what kind of steps they have taken to get there, what different phases they have had to go through and what their evolution has been. This model helps us to contextualize the place in which a person is and what the next steps would be to improve their leadership capacity.

Stage I. Depend on other people

Stage II: Individual and independent contribution

Stage III Contribution through others

Stage IV: Leadership through a vision

3 0

3 years ago

Innovative Creations Corporation is designed along functional lines. New product development is very slow and the process is pla

fenix001 [56]

Answer:

A) Coordiantion, is the correct option

Explanation:

Bad coordination in a company leads to a decrease in productivity. Coordination between departments is important, lack of it may have adverse effects may it be sales of production. The functional and management training imparted by the company is a way to make the teamwork in coordination so the operation of the business is smooth. The solution to the communication gap is to have open system communication with all the departments, interdepartmental communication is very very crucial.

5 0

3 years ago

Nomi is in the highest individual tax bracket and receives $375 in qualified dividends from Omega Corp. Nomi's tax liability (no

Makovka662 [10]

Answer:

A qualified dividend is taxed in the same was as long term capital gains. The tax rates for long term capital gains are lower than the tax rates for ordinary income and they range form 0 to 20%. In this case, since Nomi is in the highest tax bracket, she will most certainly pay the 20% tax rate on qualifying dividend = $375 x 20% = $75.

Explanation:

8 0

3 years ago

A fall in the value of the dollar againstother currencies makes U.S. final goods and services cheaper toforeigners even though t

Mars2501 [29]

Answer: I am right, the increased demand represents a rightward shift of the aggregate demand curve.

Explanation:

The increase in aggregate demand by foreigners occurred as a result of a fall in the value of the US dollars and aggreagrate price level stayed the same. Therefore, the change in aggregate demand didn't occur as a result of a change in price.

If agregrate demand changed as a result of a change in the aggregate price levels, there would be a change in quantity demanded and a movement along the demand curve.

It's only a change in price that result results in a movement along the aggregate demand curve.

Other factors that leads to a change in demand either shifts the aggregate demand curve to the left or to the right.

Therefore, an increase in aggregate demand as a result of the fall in value of US dollars causes the aggregate demand curve to shift to the right.

The shift in the aggregate demand curve to the right shows that demand has increased but aggregate price hasn't changed.

5 0

3 years ago