Pamahalaang Komonwelt Landas Tungo sa Kalayaan Prepared by Arnel O Rivera MAT-SS
Answer: The correct answer is "e. An amount assigned to no-par stock by the corporation's board of directors.".
Explanation: Stated value of no-par stock is: <u>An amount assigned to no-par stock by the corporation's board of directors.</u>
<u>The board of directors of the corporation are those who designate a declared value for no-par stock.</u>
Answer: Nominal interest rate.
Explanation:
Nominal interest rate is the interest rate before inflation is taken into account.
Nominal interest rate is also the advertised or interest rate stated on a loan, without adding any other fees or compounding the interest.
The nominal interest rate is quoted on bonds, loans etc. It is the advertised rate without taking into cognisance inflation, inflation, taxation and compounding interest.
Answer:
Explanation:
The journal entry is shown below:
Cash A/c Dr $768,000
Service Charge Expense A/c $32,000
To Accounts Receivable A/c $800,000
(Being the cash is received and the remaining balance is debited to the cash account )
The computation of the service charge expense is shown below:
= Accounts Receivable × service charge percentage
= $800,000 × 4%
= $32,000
Answer:
The common differences in benefits and or fees include :
1. Minimum opening amount
2. Withdrawal limitation - maximum spending or withdrawal depending on age
3. Cost of notification on transaction and monthly statement or hard copy statement fee.
4. Return deposit charge - fee charged on a bounced cheque
5.Overdraft charge - fee charge on unfulfilled commitment
Explanation: The benefits attached and the charges or fees incurred in managing a checking account may differ depending on the policy and business process of the financial establishment.
