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3 years ago

Describe how to make an electronic payment

2 answers:

8 0

Each bank as similar ways when it comes to making an electronic payment. Once you are in your bank information on your phone or computer, you can set up a payment in the payments/bills section. You add the information to the bill you wish to pay and then you send the amount you want to pay ont he date you schedule it for.

LuckyWell [14K]3 years ago

4 0

Set up an account - register your details and follow the instructions.

Connect a bank card - enter your credit or debit card details.

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Bushard Company (buyer) and Schmidt, Inc. (seller) engaged in the following transactions during February 2019:

Allisa [31]

Answer:

Bushard Company (buyer) and Schmidt, Inc. (seller)

Journal Entries:

Bushard Company

Feb. 10 Debit Inventory $5,000

Credit Accounts payable (Schmidt, Inc.) $5,000

To record the purchase of goods on account, via Invoice 1980, terms 1/10, n/30.

13 Debit Accounts payable (Schmidt, Inc.) $200

Credit Inventory $200

To record the return of damaged goods and received Credit Memorandum 230.

19 Debit Accounts payable (Schmidt, Inc.) $4,800

Credit Cash $4,752

Credit Cash Discounts $48

To record the payment on account and discounts.

Schmidt, Inc.

Feb. 10 Debit Accounts receivable (Bushard Company) $5,000

Credit Sales revenue $5,000

To record the sale of goods on account, Invoice 1980, terms 1/10, n/30.

13 Debit Sales returns $200

Credit Accounts receivable (Bushard Company) $200

To record the return of damaged, issuing Credit Memorandum 230.

19 Debit Cash $4,752

Debit Cash Discounts $48

Credit Accounts receivable (Bushard Company) $4,800

To record the receipt of cash from customer, including discounts.

Explanation:

a) Data and Analysis:

Bushard Company

Feb. 10 Inventory $5,000 Accounts payable (Schmidt, Inc.) $5,000, Invoice 1980, terms 1/10, n/30.

13 Accounts payable (Schmidt, Inc.) $200 Inventory $200 Credit Memorandum 230, damaged merchandise.

19 Accounts payable (Schmidt, Inc.) $4,800 Cash $4,752 Cash Discounts $48

Schmidt, Inc.

Feb. 10 Accounts receivable (Bushard Company) $5,000 Sales revenue $5,000, Invoice 1980, terms 1/10, n/30.

13 Sales returns $200 Accounts receivable (Bushard Company) $200 Credit Memorandum 230, damaged merchandise.

19 Cash $4,752 Cash Discounts $48 Accounts receivable (Bushard Company) $4,800

7 0

3 years ago

Inkal Co. was formed on January 1, 2017 as a wholly owned subsidiary of a US corporation. Sinkal's functional currency was the s

defon

Answer:

It would decrease the net assets by $60,800

Explanation:

The computation of the translation adjustment for 2017 is shown below:

For common stock

= Issued amount × (revised exchange rate - exchange rate)

= $1,000,000 × (0.42 - 0.48)

= -$60,000

For dividend

= Dividend paid × (revised exchange rate - exchange rate)

= $20,000 × (0.42 - 0.46)

= -$800

For net income

= Net income × (revised exchange rate - exchange rate)

= $80,000 × (0.42 - 0.42)

= $0

So, it would decrease the net assets by $60,800 ($60,000 + $800)

7 0

4 years ago

An insurance company is likely to attract customers like Clancy who want to purchase insurance because he knows better that the

cluponka [151]

Answer: adverse selection

Explanation:

From the question, we are told that an

insurance company is likely to attract customers like Clancy who want to purchase insurance because he knows better that the company that he is more likely to make a claim on a policy.

The idea above is called adverse selection. This is a situation whereby either the seller or the buyer believes that he or she has more information than the other person regarding a particular product.

7 0

3 years ago

You just received an offer in the mail to transfer your $5,000 balance from your current credit card, which charges an annual ra

NARA [144]

Answer:

number of payment is 3.05 payment

so correct option is b 3.05 payments

Explanation:

balance = $5000

annual rate r1 = 18.7 % = $\frac{0.187}{12}$ = 0.01558

credit card charging r2 = 5.9% = $\frac{0.059}{12}$ = 0.004917

payments P = $250 month

to find out

How many fewer payments will you have to make to pay off this debt if you transfer the balance to the new card

solution

we first find time t both rate by total balance formula that is

balance = $P * \frac{1-(1+r)^{-t}}{r}$ ...........................1

here P is payment and t is time and r is rate

put here all value and find t for r1

balance = $P * \frac{1-(1+r)^{-t}}{r}$

5000 = $250 * \frac{1-(1+0.01558)^{-t}}{0.01558}$

take log both side

log 0.6884 = log 1 - log $(1+0.01558)^{t}$

t = 24.1519 .................2

and now put here all value and find t for r2

balance = $P * \frac{1-(1+r)^{-t}}{r}$

5000 = $250 * \frac{1-(1+0.00492)^{-t}}{0.00492}$

take log both side

log 0.9016 = log 1 - log $(1+0.00492)^{t}$

t = 21.1055 .....................3

so by equation 2 and 3

so no of payment will be 24.1519 - 21.1055

so number of payment is 3.05 payment

so correct option is b 3.05 payments

7 0

3 years ago

A person assumes all risks associated with any activity in which he or she participates.

Eduardwww [97]

It is <u>false </u>that a person assumes all risks associated with any activity in which he or she participates. This is not true because one person cannot bear all these risks, especially if there are multiple people involved. They should all face the risks and the consequences of their actions - it shouldn't be just one person, but also the people who are organizing that activity as well as the other participants.

3 0

3 years ago