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Arturiano [62]
3 years ago
11

Which of the following are properties of a savings account? Select all that apply.

Business
2 answers:
stich3 [128]3 years ago
8 0

Answer:

1 a person can access the money at any time.

Explanation:

it like you save it or hide it so that later you can use it.

Reika [66]3 years ago
6 0

Answer:

A and B

Explanation:

Savings accounts are longterm with low interest rates you gain barley anything.

You can withdraw or deposit into a savings account at any time via mobile phone or atm

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When Patey Pontoons issued 10% bonds on January 1, 2021, with a face amount of $640,000, the market yield for bonds of similar r
IRINA_888 [86]

Answer and Explanation:

According to the scenario, computation of the given data are as follow:-

1) Semiannually Rate of interest = 11% ÷ 2 = 5.50% = 0.055

Number of years (half yearly) = 4 × 2 = 8 years

PVIF Value = 1 ÷ (1 + Interest Rate)^Number of years

=1 ÷ (1 + 0.055)^8

= 1 ÷ 1.5347

= 0.65160

PVIFA Value = [1 -1 ÷ (1 + Interest Rate)^Number of years ÷  Interest Rate

= [1 - 1 ÷ (1 + 0.055)^8]  ÷ 0.055

= [1 - 0.65160] ÷ 0.055

= 6.33457

Particular  PV table value Multiply Amount  ($) PV value

Principle value  0.65160 × 640,000                          $417,024

Annually interest Value 6.33 ×     32,000                          $202,706

($640,000 × 6 ÷ 12 × 10%)  

Present Bond’s Price                                      $619,730

2).  

Journal Entry

On Jan.1,2021

Cash A/c         Dr.  $619,730

Discounts on bond payable A/c      Dr.  $20,270

 To Bond payable A/c         $640,000

(Being bond issued at discount is recorded)

3. The amortizable schedule is presented on the attachment below

4).

Journal Entry

June 30,2021

Interest expense A/c      Dr.  $34,085  

     To Cash A/c         $32,000

     To Discount on bond payable A/c    $2,085  

(Being interest expenses is recorded)  

5) On December 31,2021 Amount of bonds reported = $624,015

6). Interest expenses reported in income statement

= $34,085 + $34,200

= $68,285

7).

Journal Entry

On Dec. 31,2024

Interest expense A/c      Dr.  $35,032

   To Cash A/c         $32,000

   To Discount on bond payable A/c      $3,032

(Being interest expense is recorded)

On Dec.31,2024

Bond payable A/c       Dr.  $640,000

  To Cash A/c        $640,000

(Being interest expense is recorded)

5 0
3 years ago
An example of factory overhead is (electricity used to run assembly line, CEO salary). electricity used to run assembly line
mafiozo [28]

Answer:

b

Explanation:

8 0
3 years ago
Read 2 more answers
For prescription drug coverage with her family health care plan,
erastovalidia [21]

Answer:

Your answer is C. Its probably too late but for anyone's future reference:

Explanation:

If you crunch the numbers:

Its 6 prescriptions a month

First option: $ 20 copay = 120 with just prescriptions + 50 for the monthly premium. total: 170

Second option: $15 copay=90 with just prescriptions +70 for monthly premium. total: 160

Third option: $10 copay= $60 with just prescriptions+ 90 for monthly premium. Total: 150

Fourth option: $ 8 copay= 48 with just prescriptions+110 for monthly premium. Total : $158

Lowest cost is option c

6 0
2 years ago
Read 2 more answers
Many public organizations must spend all budgeted funds within the fiscal year—otherwise, the subsequent year’s budget is ______
Rus_ich [418]

Answer:

The correct answer that fills the gap is: reduced by the unspent amount.

Explanation:

If there is a difference between budgeted and spent (positive or negative), the final result must be charged to the period immediately following. Otherwise it happens with long-term obligations, which are recognized in future periods until it is completely exhausted.

4 0
3 years ago
Double West Suppliers (DWS) reported sales for the year of $400,000, all on credit. The average gross profit percentage was 35 p
erastovalidia [21]

Answer:

1. Accounts Receivables Turnover Ratio = Net Credit Sales/Average Accounts Receivables = 400,000 / (51000 + 61000)/2

= 400,000/56,000

= 7.1 times

Inventory Turnover Ratio = Cost of Goods Sold/Average Inventory = (Sales-Gross Profit)/Average Inventory = (400,000 - 35% * 400,000) / (67000 + 46000)/2

=400,000 - 140,000 / 56,500

= 260,000 / 56,500

= 4.6 times

2. Average Days to Collect Receivables = 365/7.1 = 51.40 or 52 days

Average Days to Collect Inventory = 365/4.6 = 79.34 days

6 0
3 years ago
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