Fees a financial institution may charge include ____

The board of directors of Capstone Inc. declared a $0.60 per share cash dividend on its $1 par common stock. On the date of decl

Vinvika [58]

Answer

The answer and procedures of the exercise are attached in the following archives.

Explanation

You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.

6 0

4 years ago

At his comic book store, Korey’s Comics, Korey sells approximately $3,250 in comic books each month. But as a comic book dealer,

Viktor [21]

Answer:

a. 1,090

Explanation:

Without any other information provided, the easiest way to answer this question is to make directly the calculations of income and costs. the logic behind this problem is to calculate all the income and substract the costs of production, in this particular case we have:

+Income: 3,250

-Cost of goods: 1,285

-Operating expenses: 875

Net Income: 1,090

6 0

3 years ago

Read 2 more answers

Mendrisio Company purchased a piece of machinery for $30,000 on January 1, 2019, and has been depreciating the machine using the

aleksley [76]

Answer:

a. There is no entry required to record the accounting change

b. The journal entry to record depreciation for 2021 would be as follows:

Debit Credit

Depreciation Expense $3,000

Accumulated Depreciation $3,000

Explanation:

According to the given data we have the following:

Sum of year digits=5(5+1)/2

Sum of year digits=(5*6)/2

Sum of year digits=15

Depreciation for year 2019=$30,000*5/15

Depreciation for year 2019=$10,000

Depreciation for year 2020=$30,000*4/15

Depreciation for year 2020=$8,000

Therefore, book value as on january 1, 2021=$30,000-$10,000-$8,000

book value as on january 1, 2021=$12,000

Revised useful life=6 years-2 years=4 years

Therefore, Revised depreciation for 2021=$12,000/4

Revised depreciation for 2021=$3,000

a. There is no entry required to record the accounting change

b. The journal entry to record depreciation for 2021 would be as follows:

Debit Credit

Depreciation Expense $3,000

Accumulated Depreciation $3,000

3 0

3 years ago

country cupboard purchased inventory for 5500 and also paid a 360 freight bill. Country cupboard returned 45% of the goods to th

Shalnov [3]

Answer:

$3,475.75

Explanation:

the journal entries required to record the purchases are:

Dr Inventory 5,500

Cr Accounts payable 5,500

Dr Inventory 360

Cr Cash 360

Dr Accounts payable 2,475

Cr Inventory 2,475

Dr Accounts payable 3,025

Cr Cash 2,934.25

Cr Purchase discounts 90.75

Cost of inventory = $5,500 + $360 - $2,475 - $90.75 = $3,475.75

7 0

3 years ago

A nation's central bank auctions off a new issue of 10-year bonds. What is the short-run effect on the nation's economy

sdas [7]

Answer: Aggregate Demand Decreases

Explanation:

When the Central Bank sells bonds, it is engaging in Open Market Operations to reduce the amount of money in the Economy by taking money out of people's hands ( the money they will use to buy the bonds).

When money supply in the economy decreases, it will have the opposite effect on Interest rates as they will increase because money is no longer readily available.

When this happens both businesses and Individuals will reduce the amount of money they borrow for investment and consumption respectively which are both components of Aggregate Demand.

Aggregate Demand therefore decreases and the AD curve shifts to the LEFT to depict this.

6 0

3 years ago

Fees a financial institution may charge include _____.