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salantis [7]
3 years ago
9

Which of the following statements concerning a bank savings account is false? a. Deposits are insured for at least $100,000. b.

Your money will earn interest. c. You will pay a hefty fee for cashing or depositing your paycheck into a savings account. d. You can use an ATM or debit card with a savings account.
Business
1 answer:
cricket20 [7]3 years ago
6 0

Answer:

The correct answer is C

Explanation:

Savings account is the kind of deposit account which is held at the retail bank and that pays the interest but cannot be use directly as money is at the narrow sense of the medium of exchange.

This account help the customers or people to set aside the portion of their liquid assets when earning a monetary return. And this account does not charge any fee for depositing as well as cashing the paycheck into the saving account.

Therefore, the statement which is false is that the customer have to pay a fee for depositing or cashing.

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A positive incentive for consumers is a coupon clipped from a newspaper.
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2 years ago
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The following information pertains to Sheridan Company.
DanielleElmas [232]

Answer:

Adjusted Cash Balance at 31 August 2022 = 9654

Explanation:

Bank Reconciliation Statement at August 31, 2022

Cash Balance as per Bank  August 31,                                         $7338

Add: Deposit in Transit                                                                  $3010

<u>Deduct: Outstanding Checks                                                        ($694 )</u>

<u>Adjusted Cash Balance                                                                  $9,654</u>

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Cash Balance as per books, August 31,                                        $7374

Add: Receivable collected by bank                                               $2326

<u>Less:Bank Service Charges                                                           ($46)     </u>

<u>Adjusted Cash Balance                                                                  $9,654 </u>

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5 0
2 years ago
Explain how each of the following will affect the net public​ debt, other things being equal. a. ​Previously, the government ope
gayaneshka [121]

Answer:

A. - The net public debt decreases

The net public debt decreases because the government has obtained more funds in tax revenue. For this reason, the government will likely run a budget surplus.

B. - The net public debt increases

The government was already running a budget deficit (albeit a small one). With the effects of the hurricane, the government will have to spend more to help the people affected, and will likely have to borrow even more, increasing its deficit.

C. - The net public debt remains unchanged

There was a transfer of funds from one government agency to the other, and the net effect of such transfer is likely to be very small to make any significant change in the net public debt. The net public debt remains unchanged.

4 0
3 years ago
On January 1 of the current year, Jimmy's Sandwich Company reported total stockholders’ equity of $125,000. During the current y
Lady bird [3.3K]

Answer: ($13,000)

Explanation:

Closing balance of Equity = Opening Balance + Retained earnings

Retained earnings = Net Income - dividends

Formula above shows that equity changes as a result of Retained earnings which is the net of Net Income and Dividends.

Change in equity will be = Net Income - Dividends

= (100,000 - 89,500) - 24,000

= -$13,500

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7 0
2 years ago
Henry Ford is known for the introduction of the assembly line and the Model T. As his manufacturing effort expanded, however, he
Alecsey [184]

Answer:

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Explanation:

Good luck

4 0
2 years ago
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