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3 years ago

Which is a drawback of virtual (internet only) banks?

Business

1 answer:

Wewaii [24]3 years ago

6 0

Answer:

C) Some transactions can only be done in person, not virtually.

Explanation:

Internet banking is less flexible with transactions because there are certain funds which cannot be deposited via banking apps. Depositing a cheque is somewhat possible through internet banking but it is impossible to deposit cash the same way. The account holder is supposed to personally visit the bank to deposit cash. The process turns out to be extremely cumbersome and time-consuming.

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At the end of the closing process, Income Summary will hold a balance.

Ray Of Light [21]

Answer:

False. Have a Good day I hope this helps

Explanation:

3 0

2 years ago

Precision Castparts, a manufacturer of processed engine parts in the automotive and airline industries, borrows $39.1 million ca

valina [46]

Answer:

1. Dr Cash $39.1 million

Cr Notes Payable $39.1 million

Dr Notes Receivable $39.1 million

Cr Cash $39.1 million

2. Dr Interest Expense $879,750

Cr Interest Payable $879,750

Dr Interest Receivable $879,750

Cr Interest Revenue $879,750

3. Journal entry for Precision Castparts

Dr Notes payable $39.1 million

Dr Interest expense $2,639,250

Dr Interest payable $879,750

Cr Cash $42,619,000

Journal entry for Midwest Bank

Dr Cash $42,619,000

Cr Notes receivable $39.1 million

Cr Interest receivable $879,750

Cr Interest revenue $2,639,250

Explanation:

1. Preparation of the journal entry to Record the necessary entry for the scenarios given .

Dr Cash $39.1 million

Cr Notes Payable $39.1 million

Dr Notes Receivable $39.1 million

Cr Cash $39.1 million

2. Preparation of the journal entry to Record the adjustments on December 31, 2018.

Dr Interest Expense $879,750

Cr Interest Payable $879,750

(39.1 million*9%*3/12)

Dr Interest Receivable $879,750

Cr Interest Revenue $879,750

(39.1 million*9%*3/12)

3. Preparation of the journal entry on September 30, 2016, to record payment of the notes payable at maturity

Journal entry for Precision Castparts

Dr Notes payable $39.1 million

Dr Interest expense $2,639,250

($39.1 million*9%*9/12)

Dr Interest payable $879,750

(39.1 million*9%*3/12)

Cr Cash $42,619,000

($39.1 million+$2,639,250+$879,750)

Journal entry for Midwest Bank

Dr Cash $42,619,000

($39.1 million+$2,639,250+$879,750)

Cr Notes receivable $39.1 million

Cr Interest receivable $879,750

(39.1 million*9%*3/12)

Cr Interest revenue $2,639,250

($39.1 million*9%*9/12)

4 0

3 years ago

The nth term of the GP is (-1)^n(2)^n.

Bingel [31]

Answer:

-2, 4 and -8

Explanation:

Given the nth term of a GP expressed as;

$a_n = (-1)^n(2)^n$

When n = 1

$a_1 = (-1)^1(2)^1\\a_1 = -1 * 2\\a_1 = -2\\$

when n = 2

$a_2 = (-1)^2(2)^2\\a_2 = 1 * 4\\a_2 = 4\\$

when n = 3

$a_3 = (-1)^3(2)^3\\a_3 = -1 * 8\\a_3 = -8\\$

Hence the first three terms of the sequence are -2, 4 and -8

5 0

2 years ago

According to the video, what do many Accountants and Auditors decide to do?

Maksim231197 [3]

Answer:

specialize in a specific area is the correct answer.

Explanation:

3 0

3 years ago

Hunt Advertising is collaborating on an initiative with the Odessa Arts Council, a nonprofit organization, by providing public-r

natita [175]

Incomplete question. The options:

a. green marketing

b. effect-related marketing

c. cause-related marketing

d. relationship marketing

Answer:

<u>c. cause-related marketing</u>

Explanation:

Note, a marketing effort that is centered primarily on making an impact or a said cause; usually, it involves a mutually benefiting agreement, in which a corporation would collaborate with a non-profit such that

the corporation benefits (maybe in terms of sales), and
the non-profit benefits in terms of fulfilling a cause.

The idea is that consumers would be drawn if they see that when they pay for a particular service or product, they will be contributing to a good cause.

6 0

3 years ago