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3 years ago

13

a checking account allows depositors to withdraw cash from an automated teller machine (atm) or write checks against money depos

ited in the account. a. true b. false

2 answers:

Brums [2.3K]3 years ago

4 0

I believe your answer is A)True.

sertanlavr [38]3 years ago

3 0

A depositer can not withdrawal money

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Cullen Company has $235,000 in credit sales, and $164,200 in its Accounts Receivable at the end of the year. The company uses th

S_A_V [24]

Answer:

Net Realizablel Value of Account receivable = $142,850

Explanation:

Particulars Amount

Total Accounts Receivable $164,200

- Pre-adjusted Uncollectable Account balance $7,250

- Current Year Uncollectable Amount <u>$14,100 </u> ($235000*6%)

Net Realizable Value <u>$142,850</u>

4 0

3 years ago

A customer in a coffee shop purchases a blend of two coffees: kenyan, costing $3.50 a pound, and sri lankan, costing $5.60 a pou

Rom4ik [11]

We have to make a system of equations:
x + y = 7; where x stays for pounds of Kenyan coffee, and y stays for pounds of Sri Lankan coffee. And: 3.50 * x + 5.60 * y = 33.95 ( total cost ).
From the 1st equation: x = 7 - y. We have to substitute it into the 2nd equation:
3.50 * ( 7 - y ) + 5.60 * y = 33.95
24.50 - 3.50 y + 5.60 y = 33.95
5.60 y - 3.50 y = 33.95 - 24.50
2.10 y = 9.45
y = 9.45 : 2.10
y = 4.5 lb; x = 7 - 4.5 = 2.5 lb.
Answer: 2.5 lb of Kenyan coffee and 4.5 lb of Sri Lankan.

7 0

3 years ago

Crane Co. uses the gross method to record sales made on credit. On June 1, 2017, it made sales of $52,200 with terms 3/15, n/45.

Artist 52 [7]

Answer:

Explanation:

Crane Co

June 1. Credit: Sales $52,200

Debit: Acc receivable $52,200

Being sales on account

June 12 Debit: Bank. $ 50,634

Debit: Discount Allowed $1,566

Credit: Acc receivable. $52,200

Being payment received on sales

8 0

3 years ago

Read 2 more answers

On July 1, 20x1, Fox Co. purchased as a held-to-maturity investment $5,000,000 of Owl, Inc.'s 8% bonds for $4,580,000, including

Dimas [21]

Answer:

The amount fox should report on Dec 31,20x1 = $4,556,500

Explanation:

The carrying amount of bonds = $4,580,000 - $50,000

The carrying amount of bonds = $4,530,000

Amortization of discount from july 1 to dec 31 (6 months):

Interest Revenue = $4,530,000* 10% * 6/12

Interest Revenue= $226500

Interest Receivable = $5,000,000 * 8% * 6/12

Interest Receivable = $200000

Discount amortized =Interest Revenue - Interest Receivable

Discount amortized = $226500 - $200000

Discount amortized = $26500

So:

The amount fox should report on Dec 31,20x1 = $4,530,000 + $26500

The amount fox should report on Dec 31,20x1 = $4,556,500

4 0

3 years ago

On January 12, 2021, Jefferson Corporation purchased bonds of Rose Corporation for $52 million at par and classified the securit

sineoko [7]

Answer:

Transaction gain = $16 million

Explanation:

Given:

Purchase amount = $52 million

December 31, 2021, bonds value = $46 million

October 3, 2022, bonds sold = $62 billion

Computation:

Using multi-step approach

Transaction gain = October 3, 2022, bonds sold - December 31, 2021, bonds value

Transaction gain = $62 million - $46 million

Transaction gain = $16 million

5 0

3 years ago