The item that should not be among Lucy's main considerations in selecting these accounts are that the account recommended for somebody with different needs.
<h3 /><h3>What is checking account?</h3>
A transaction account is a deposit account kept at a bank or other financial institution. It is also known as a checking account, checking account, current account, request deposit account, or shared draft account at credit unions.
In the above situation, Lucy will have to pay the amount of interest to be on deposits, and eligible to any advantages of having all the accounts at the same bank.
Lucy will also bear the fees for having multiple savings accounts, as having a multiple accounts increases the fees of all the accounts.
The account cannot be opened for the need of somebody, it is opened for the banking transactions and for depositing the money.
Therefore, option A is correct.
Learn more about the checking account, refer to:
brainly.com/question/20984186
Answer:
$663.420
Explanation:
The value for the investment is the future of $1000, earning a compound interest of -5% for eight years.
The formula for compound interest is as below.
FV = PV × (1+r)^n
Fv = $1000 x ( 1 + (-5/100)^8
Fv= $1000 x (1 +(-0.05)^8
FV= $1000 x (0.95)^8
Fv=$1000x 0.6634204
Fv=$663.420
The value will be $663.42
The service Revenue will be:
1. Cash for service performed in 2021 -------------------------- $13,500
2. Bill sent to clients for service performed in 2021--------- $4,100
TOTAL------------------------------------------------------------------------$17,600
The $5,100 received was for the service done in 2020 and this will be decrease the account receivables on the balance sheet while the $2,100 received for work to be done in 2022 will be recorded as an unearned revenue because the service has not been rendered.
Answer:
The balance of Work in Process as of April 30 is $3,470.
Explanation:
Work in Process
Apr. 1 Balance 6,600
Apr 30 Direct materials 51,600
Apr 30 Direct labor 190,900
Apr 30 Factory overhead 57,270
Apr. 30 Goods finished = Opening Balance + Direct Material + Direct labor + Factory overheads - Goods Finished during the April
Apr. 30 Goods finished = 6,600 + 51,600 + 190,900 + 57,270 -302,900 = 3,470
Finished Goods
Apr. 1 Balance 16,000
Apr 30 Goods finished 302,900
Answer:
b.9%
Explanation:
Formula for annual rate of return formula is as follows;
Annual rate of return = [ (New value/ Initial value)^(1/t) ] -1
t = the total holding period of investment = 12 years
Old value = 22,000
New value = 62,000
Next, plug in the numbers to the formula;
Annual rate of return; r = [ (62,000/22,000) ^(1/12) ] -1
r = [2.8182 ^(1/12)] - 1
r = 1.0902 -1
r = 0.0902 or 9%
