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3 years ago

How much does it cost to open a savings account??

2 answers:

8 0

Ok this is for me this might not be the same for you. I use Bank of America and when I opened mine I needed to make a minimum deposit of $25. Again this was for me I dont know if this is the same for everyone or every bank.

Have a nice day user!

Setler [38]3 years ago

8 0

For me, when I opened one, it was about 25-30 dollars. It wasn't that much, though.

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Rowan Co. purchases 200 common shares (40%) of JBI Corp. as a long-term investment for $600,000 cash on July 1. JBI Corp. paid $

aleksley [76]

Answer:

1. Jul-01

Dr Investment in JBI Corp $ 600,000

Cr Cash $ 600,000

2. Nov-01

Dr Cash $ 5,000

Cr Investment in JBI Corp $ 5,000

3. Dec-31

Dr Investment in JBI Corp $ 100,000

Cr Investment revenue $ 100,000

Explanation:

1. Preparation of Rowan's entries to record the purchase of JBI shares

Jul-01

Dr Investment in JBI Corp $ 600,000

Cr Cash $ 600,000

[To record investment in common shares of JBI Corporation]

2. Preparation of Rowan's entries to record the receipt of its share of JBI dividends

Nov-01

Dr Cash [12,500*40%] $ 5,000

Cr Investment in JBI Corp $ 5,000

[To record receipt of dividends]

3. Preparation of Rowan's entries to record the December 31 year-end adjustment for its share of JBI net income

Dec-31

Dr Investment in JBI Corp [$250,000*40%] $ 100,000

Cr Investment revenue $ 100,000

[To record share of net income for the year]

4 0

2 years ago

Classic Limo, Inc. provides limousine service to Tri-Cities airport. The price of the service is fixed at a flat rate for each t

Illusion [34]

Answer:

1) See the attached excel file for the analysis of the possible operating income for Classic Limo, Inc.

2) The scenario with the highest operating profit $280,500 which is Excellent with $40 Contribution Margin and 10,500 Numbers of Customers.

Explanation:

1) Using the above information, construct an Excel spreadsheet to prepare an analysis of the possible operating income for Classic Limo, Inc.

Note: See the attached excel file for the analysis of the possible operating income for Classic Limo, Inc.

2) If you were manager of Classic Limo, Inc. and had to choose only one budget scenario to use for planning for the year, which one of the nine scenarios would you choose?

The scenario that would be chosen is the scenario with the highest operating profit $280,500 which is Excellent with $40 Contribution Margin and 10,500 Numbers of Customers.

Download xlsx

4 0

3 years ago

A trust is a legal document that explains how a person wishes his property to be transferred.

Kaylis [27]

This is TRUEEEEEEEEEEE

6 0

3 years ago

Read 2 more answers

A good way to show your boss that you are dependable is to _____. a. arrive early b. arrive with snacks c. arrive late d. arrive

myrzilka [38]

A. Arrive early.

Explanation:

Dependable: Trustworthy and reliable.

B. Arriving with snacks doesn’t get you anywhere.

C. Arriving late isn’t even up for debate.

D. A day off is a day off for a reason, go home pal.

3 0

3 years ago

Read 2 more answers

Find the EAR in each of the following cases (Use 365 days a year. Do not round intermediate calculations and enter your answers

postnew [5]

Answer and Explanation:

The computation of the effective annual rate in each of the following cases are

Effective annual rate = [(1+annual percentage rate ÷ period)^period]- 1

= (1 +0 .09 ÷ 4)^4 - 1

= 9.31%

Effective annual rate = [(1+annual percentage rate ÷ period)^period]- 1

= (1 + 0.16 ÷ 12)^12-1

= 17.23%

Effective annual rate = [(1+annual percentage rate ÷ period)^period]- 1

= (1 + 0.12 ÷ 365)^365-1

= 12.75%

4 .

Effective annual rate = [(e)^Annual percentage rate]-1

e=2.71828

So,

=[(2.71828)^0.11]-1

= 11.63%

4 0

3 years ago