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Alinara [238K]
3 years ago
8

A for-profit institution that works with the general public to open and manage savings accounts is known as a(n) _____. A. comme

rcial bank B. investment bank C. credit union D. savings bank
2b2t
Business
1 answer:
Svetradugi [14.3K]3 years ago
4 0

A for-profit institution that works with the general public to open and manage savings accounts is known as a(n) savings bank.

Answer: C. savings bank

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American Inc. had gross sales of $925,000. Cost of goods sold and selling expenses were $490,00 and $220, 000 respectively Ameri
drek231 [11]

Answer:

a. Particulars                                Amount

Gross sales                                  $925,000

Less: COGS                                 <u>$490,000</u>

EBITDA                                        $435,000

Less: Depreciation                      <u>$120,000</u>

EBIT                                              $315,000

Less: Interest on notes payable <u>$8,800   </u>  (220000*4%)

EBT                                               $306,200

Less: Tax (35%*306200)             <u>$107,170</u>

Net Income                                   <u>$199,030</u>

<u />

b. Operating cash flow = Net income + Depreciation

Operating cash flow = $199,030 + $120,000

Operating cash flow = $319,030

6 0
2 years ago
Pierce Corporation exchanged old equipment for new equipment. The original cost of the old equipment was $120,000, and its accum
ololo11 [35]

Answer:

new equipment                   50,000 debit

accumulated depreciation  40,000 debit

loss at disposal:                   30,000 debit

                   old equipment               120,000 credit

--to record trade of equipment--

Explanation:

Let's break the transactions into small parts:

We need to remove the old equipment from accounting along with their accumulated depreciation so:

accumulated depreciation 40,000 debit

                   old equipment               120,000 credit

Then, we debit the new equipment at fair value:

new equipment 50,000 debit

Last, assuming the trade has commercial substance: we recognize the gain or loss on sale:

book value of traded equipment: 80,000

fair value of new equipment:         50,000

loss at disposal:                              30,000

<u>Thus, the journal entry will be as follows:</u>

new equipment                   50,000 debit

accumulated depreciation  40,000 debit

loss at disposal:                   30,000 debit

                   old equipment               120,000 credit

4 0
3 years ago
A full summary of all consecutive grants, conveyances, wills, records, and judicial proceedings affecting title to a specific pa
Bad White [126]

Answer:

B) Abstract and opinion.

Explanation:

Abstract and opinion can also be call Abstract of title:

this is the records or evidence of the full history of the property from the conveyance,wills, legal backing, and the list of those people that as assume ownership of the property for a particular period of time.

A full summary of all consecutive grants, conveyances, wills, records, and judicial proceedings affecting title to a specific parcel of real estate, together with a statement of all recorded liens and encumbrances affecting the property and their present status, but not including encroachments and forgeries, is known as a Abstract of Title or Abstract and opinion.

6 0
3 years ago
we would expect a(n) (fill in the blank) firm to have the highest inventory, while a(n) (fill in the blank) firm should have the
dexar [7]

An industry's overall strong sales or effective operations can be indicated by high inventory turnover. Lead time describes the amount of time needed to perform a procedure from start to finish.

<h3>What are the benefits of lead time in business?</h3>

In many sectors, lead time is a crucial statistic. To prevent a supply delay, which could have a severe impact on customer satisfaction, contractor dependencies, and cost efficiency in general, it is essential to calculate lead times accurately and consistently.

<h3>Why is the inventory so high?</h3>

It typically denotes some sort of mismanagement of stock demand as a result of things like excessive purchases, incorrect predictions, canceled orders, a poor economy, unexpected weather changes, uncertain consumer demand, or late or early delivery of goods.

To know more about inventory visit:-

brainly.com/question/14184995

#SPJ4

5 0
1 year ago
"when johanna cut prices in her jewelry store by 20 percent, the dollar value of her sales fell by 20 percent. this indicates th
anzhelika [568]
How much ever percent she cuts so will the value of her sales
3 0
3 years ago
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