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3 years ago

What is savings?, How can you save in a bank? And why is it important?

Business

1 answer:

Strike441 [17]3 years ago

3 0

Explanation:

Savings are the money one has saved, especially through a bank or official scheme.

You can save in a bank by frequently depositing money into a bank account.

Savings are important for the availability of money during emergencies or to avoid going into debt to pay for your necessities.

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Hillside issues $2,600,000 of 5%, 15-year bonds dated January 1, 2015, that pay interest semiannually on June 30 and December 31

Amanda [17]

Answer:

1.- thwe cash payment are the same for each period as the coupon bond rate is fixed:

2,600,000 face value x 5% coupon rate / 2 payment per year = 65,000

On the last payment, we are going to calculate 65,000 + face value

2,600,000 + 65,000 = 2,665,000

2.- amortization per period 19,513

3.- interest expense per period 45,487

4.- 45,487 interest expense per period x 30 payment dates = 1,364,610

cash 3,182,390 debit

bonds payable 2,600,000 credit

premium on BP 585,390 credit

-- to record issuance --

interest expense 45,487 debit

premium on BP 19,513 debit

cash 65,000 credit

-- entry for each payment date--

Explanation:

proceeds: 3,182,390

face value: 2,600,000

premium: 585,390

amortization per period:

585,390 / 30 payment = 19,513

This will be the amortization on the premium on bonds payable for each payment

3.- as the amortization is fixed under straight-line method the interest expense is also fixed:

65,000 cash proceeds - 19,513 amortization = 45,487 interest expense

6 0

3 years ago

You are given the following data on the Employed, Unemployed, and the Labor Force for 1997: Population 16 years old or over (mil

otez555 [7]

Answer:

136.30 million

Explanation:

Total Labor force = Total of the Unemployed + Total of the Employed

Total Labor force = 129.6 million + 6.7 million

Total Labor force = 136.30 million

So, the total labor force in millions in the economy for 1997 equals 136.30 million

5 0

3 years ago

The following totals for the month of April were taken from the payroll register of Magnum Company. Salaries $12,000 Social Secu

Novosadov [1.4K]

Answer:

d. credit to Salaries Payable for $8,600

Explanation:

The journal entry would be as follows.

Magnum Company

Payroll Journal

Particulars Debit Credit

Salaries $12,000 Debit

Federal Income taxes withheld 2,500 Credit

Social Security & Medicare taxes withheld 900 Credit

Salaries Payable $8,600 Credit

Unemployment taxes are paid by the employer . They are not deducted from the employees' wages . They include both the federal and state taxes.Social Security & Medicare taxes withheld $ 900 include the Social Security & Medicare taxes $ 900.

6 0

3 years ago

Turnbull Corporation is constructing an office building that it will use in its business. Construction of the building started i

Scorpion4ik [409]

Answer: $12000

Explanation:

The amount of interest should Turnbull include in the cost of the building from the current period will be calculated as the outstanding debt multiplied by the interest rate. This will be:

= $200,000 × 6%

= $200,000 × 6/100

= $200,000 × 0.06

= $12,000

Therefore, the correct option is C.

5 0

3 years ago

Many organizations are concerned about the rising cost of employee benefits and question their value to the organization and to

shepuryov [24]

Answer:

Benefits that are of most prominent incentive to the employees and to the organization are as per the following:

The employees are obligated to get benefits that are variable and are a piece of salary bundle. These can incorporate house lease remittance, travel recompense, training stipend and advancement of the worker youngster and so forth.

Health, life and handicap benefits likewise to be incorporated into the salary. Phone recompense if the activity requires making a great deal of calls to different clients.

The firm ought to likewise give paid leaves and occasions to the employees to reproduce and revive their psychological capacity.

4 0

3 years ago