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Sonja [21]
3 years ago
12

If you were worried about your money being safe from financial disaster in your bank, which new deal program would calm your fea

rs?
Business
1 answer:
Sever21 [200]3 years ago
5 0

The FDIC, or the Federal Deposit Insurance Corporation was created in the time of the Great Depression to guarantee deposits up to a certain amount in case the bank fails. The purpose was to restore faith in the United States banking system.

You might be interested in
If a business hires employees to perform different, highly specialized jobs,
Pavlova-9 [17]

Answer:

Division of Labor

APEX Economics

5 0
3 years ago
Quito contracts with Rewind Graphix, Inc., to pay $5,000 for its work on the animated film "Song." After Rewind performs, they s
inessss [21]

Answer:

Rewind can sue Quito under the legal obligations of the accord between them.

Explanation:

It is our legal right to sue a person if he or she is not fulfilling the requirements of an agreement or accord as it was mutually signed and accepted by the both parties.

In our case, as Quito and Rewind Graphix both signed an accord in which the Quito promises to pay Rewind $4000 within 10 days but as he didn't respected the accord. Now, Rewind Graphix can sue him for not fulfilling the requirements of the accord.  

4 0
3 years ago
The following transactions apply to Pecan Co. for 2018, its first year of operations:1. Received $100,000 cash in exchange for i
tankabanditka [31]

Answer:

Pecan Co.

a. Accounting equation: Assets = Liabilities + Equity

Assets: Cash ($100,000 + 300,000 - 100,000 - 150,000 - 69,292) + Land ($100,000) + Accounts Receivable ($260,000) = Liabilities: Bank Loan ($245,708) + Equity: Common stock ($100,000) + Retained Earnings ($260,000 - 150,000 - 15,000)

b1: Income Statement

Service Revenue       $260,000

Operating expenses    150,000

Interest expense            15,000

Net income                  $95,000

Balance Sheet

Cash                                 $80,708

Accounts Receivable      260,000

Land                                 100,000

Total assets                  $440,708

Bank Loan                    $245,708

Common stock               100,000

Net income                      95,000

Total liabilities+equity $440,708

b2. The interest expense for 2019 is $15,000 ($300,000 * 5%)

The interest expense for 2020 is $12,285.40 ($300,000 +15,000 - 69,292) * 5%.

Explanation:

a) Data and Calculations:

Cash $100,000 + 300,000 - 100,000 - 150,000 - 69,292 = $80,708

Accounts Receivable $260,000

Land $100,000

Common stock $100,000

Bank Loan $300,000 + 15,000 - 69,292 = $245,708

Service Revenue $260,000

Operating expenses $150,000

Amortization Schedule, using an online financial calculator:

Beginning  Interest              Principal Ending

           Balance                                                       Balance

1 $300,000.00 $15,000.00 $54,292.44 $245,707.56

2 $245,707.56 $12,285.38 $57,007.06 $188,700.50

3 $188,700.50 $9,435.02 $59,857.41 $128,843.08

4 $128,843.08 $6,442.15 $62,850.29 $65,992.80

5 $65,992.80 $3,299.64 $65,992.80 $0.0

6 0
3 years ago
A shoe company will make a new type of shoe. The fixed cost for the production will be $24,000. The variable cost will be $31 pe
AlladinOne [14]

Answer:

Break-even point in units= 348

Explanation:

Giving the following information:

The fixed cost for the production will be $24,000. The variable cost will be $31 per pair of shoes. The shoes will sell for $100 for each pair.

<u>To calculate the break-even point in units, we need to use the following formula:</u>

<u></u>

Break-even point in units= fixed costs/ contribution margin per unit

Break-even point in units= 24,000 / (100 - 31)

Break-even point in units= 347.82 = 348

8 0
3 years ago
What is a business idea?
mart [117]

A business idea is an idea that one or more people come up with to start a business. The idea will state what the business is, how they think it should be run and what their customer base will be. After a business idea is planned the developer typically develops a marketing plan and from there they try and receive funding or get approval for their business idea.

3 0
3 years ago
Read 2 more answers
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