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3 years ago

The main source of profit for financial institutions comes from:

Business

1 answer:

Olin [163]3 years ago

7 0

Answer: The correct answer is choice d.

Explanation: The main source of profits for financial institutions is the interest that it receives on money that it loans out. More specifically, the difference between interest paid on deposits and interest received on loans. The other choices do represent revenue streams for financial institutions, but they are not the primary ones.

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On July 1, 2021, Tremen Corporation acquired 30% of the shares of Delany Company. Tremen paid $3,160,000 for the investment, and

Alenkasestr [34]

Answer:

Amount paid to acquire investments $3,160,000

Net income $1,100,000

Less: Yearly dividends (140,000*4) ($560,000)

Income after dividends $540,000

Share in income after dividends

for 6 months ($540,000 * 30% * 6/12) $81,000

Balance of investments of Tremen corporation $ 3,079,000

Hence, the balance of investments of Tremen corporation in Delany company is $3,079,000 .

5 0

3 years ago

On July 31, 2017, Crane Company had a cash balance per books of $6, 245.00. The statement from Dakota State Bank on that date sh

worty [1.4K]

Answer and Explanation:

The preparation of the bank reconciliation is presented below:

cash balance per books $6,245.00

Less Bank Service Charge $16

Less error correction for check No.2480 $36 ($384 - $348)

Add: note receivable collected $1,625

Less: NSF check $680

Adjusted cash book balance $7,138

bank statement balance $7,795.80

Less: Outstanding checks $1,965.10

Add: Deposits in transit $1,307.30

Adjusted bank statement bal. $7,138

3 0

3 years ago

A company uses the departmental overhead rate method. Total overhead costs are $5,000,000. Of this total, the machining departme

AleksAgata [21]

Answer:

Allocation rate Machining= $50 per machine hour

Explanation:

Giving the following information:

Estimated Machining cost= $4,000,000

Estimated Number of machine hours= 80,000

To calculate the allocation rate for the Machining department, we need to use the following formula:

Allocation rate Machining= total estimated costs for the period/ total amount of allocation base

Allocation rate Machining= 4,000,000 / 80,000

Allocation rate Machining= $50 per machine hour

4 0

3 years ago

The following are budgeted data: January February March Sales in units 15,900 21,800 18,900 Production in units 18,900 19,900 17

NISA [10]

Answer:

20,300 pounds

Explanation:

Purchases Budget for February - Pounds

Material required in Production 19,900

Add Opening Materials Inventory (19,900 x 20%) 3,980

Total 23,880

Less Closing Materials Inventory (17,900 x 20%) (3,580)

Budgeted Purchases 20,300

Therefore,

Purchases of raw materials for February would be budgeted to be 20,300 pounds

8 0

3 years ago

Match the items in the two columns below by entering the appropriate code letter in the space provided.

PolarNik [594]

Answer:

Please refer to the attached for the matched table

Explanation:

6 0

3 years ago