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3 years ago

What is a bank savings account?

1 answer:

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A bank savings account is one simplest type of bank account. It allows you to keep your money safely while earning through interest per month. Money in a savings account is useful for emergencies since they are insured. You also get a card which enables you to withdraw or deposit money into your account. Parent's usually take this type of account for their children for future purposes.

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Dyckman Dealers has an investment in Thomas Corporation bonds that Dyckman accounts for as a trading security. Thomas Corporatio

faust18 [17]

Answer: $20,000

Explanation:

Bonds are to be carried in the books at their fair value which is their market value. That value is $20,000 in this instance and so Dyckman Dealers will have to record the bonds at that $20,000 value.

Investment analysis are not a basis for recording bond prices. They are simply a basis for making investment decisions. For instance, because they believe that the bond is overvalued, they can benefit from this by short selling the bond and waiting for it to drop in price.

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3 years ago

Differentiate between the short run and Long run?

kramer

Answer:

Short-run is a time limit during which at least one input can be fixed and other input quantities can be verified.

The long run is a time period in which all the inputs can be verified in quantities.

Explanation:

Both the fixed and variable costs occur in the short term.

There are no fixed costs in the long term.

The combination of the output of a company results in the desired amount of the goods at the lowest possible cost is sustained by efficient long-term costs.

The output changes variable costs. For instance, the employee's salaries and raw material costs are variable costs.

Based on variable costs and the production rate, the short-run costs are increasing or falling. If a company manages its short-term costs well over time, the desired long-term costs and goals will more likely be achieved.

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2 years ago

For each of the situations listed, identify the primary standard from the IMA Statement of Ethical Professional Practice that i

DaniilM [7]

Answer:

1. To reduce the company's tax bill, Jack uses total cost to value inventory instead of using product cost as required by law.

Competence: accounting records must follows applicable laws, regulations and standards, you must IRA and GAAP rules when preparing financial statements and tax reports.

2. Since Emilie works in the accounting department, she is aware that profits are going to fall short of analysts' projections. She tells her aunt to sell stock in the company before the earnings release date.

Confidentiality: accounting records must b confidential unless you are authorized to disclose them, and you are not authorized to disclose the information to your aunt.

3. Veronica pays a Mexican official a bribe of $50,000 to allow the company to locate a factory in that jurisdiction so that the company can take advantage of the cheaper labor costs. Without the bribe, the factory cannot be located in that location.

Integrity: you must abstain from performing illegal activities, and bribery is illegal.

4. There is a failure in the company's backup system after a system crash. Month-end reports will be delayed. Kayla, the manager of the division experiencing the system failure, does not report this upcoming delay to anyone since she does not want to be the bearer of bad news.

Credibility: you must report all relevant and important information regardless of whether that information will make you bad or not.

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3 years ago

Classifying events as asset source, use, or exchange Vera Company experienced the following events during its first year of oper

pav-90 [236]

Answer:

Vera Company

1. Acquired $16,000 cash from the issue of common stock. [ Exchange; Cash balance increases while Owners Equity also increases. The net effect is zero ]

2. Paid $3,500 cash for salary expenses [ Asset Use; because we deplete Cash as an asset to pay for an expense item]

3. Borrowed $10,000 cash from New South Bank. [ Exchange. We got cash (an asset) but created a liability through bank loan, net effect is zero]

4. Paid $6,000 cash to purchase land. [ Exchange; depleted Cash (an Asset) to obtain another Asset (Land) net effect is zero]

5. Provided boarding services for $10,500 cash. [ Asset Source; income is driving up our cash balance (an Asset)]

6. Acquired an additional $1,000 cash from the issue of common stock. [ Exchange; Cash balance increases while Owners Equity also increases. The net effect is zero ]

7. Paid $2,400 cash for utilities expense. [ Asset Use; because we deplete Cash as an asset to pay for an expense item]

8. Paid a $1,500 cash dividend to the stockholders. [ Asset Use; because we deplete Cash as an asset to pay for dividend to shareholders]

9. Provided additional services for $6,000 cash. [ Asset Source; income is driving up our cash balance (an Asset)]

10. Purchased additional land for $2,500 cash. [ Exchange; depleted Cash (an Asset) to obtain another Asset (Land) net effect is zero]

11. The market value of the land was determined to be $24,000 at the end of the accounting period. :[ Asset Source; improvement in fair valuation of Asset]

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3 years ago

The following model shows how resources in an economy move between households, businesses, and government. The Circular Flow Mod

Alex

Answer:

The correct answer is the circular flow model.

Explanation:

The circular flow model shows the movement of resources between different sectors in the economy. The firms or business hire factors of production from the households. In return, they make factor payments. They use these factors to produce goods and services. The households purchase these goods and services and pay by their factor incomes.

The government sector charges taxes from households and businesses and provides goods and services in return. The government also hires factors of production and make factor payments. It also purchases goods and services from the businesses and pays for it.

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3 years ago