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3 years ago

Which of these is an advantage of checking accounts?

Business

2 answers:

Stells [14]3 years ago

8 0

Answer:

B - Checking accounts allow convenient ways to deposit or withdraw funds.

Explanation:

I Got It Right On Edge :)

Katarina [22]3 years ago

7 0

Answer:

Checking accounts allow convenient ways to deposit or withdraw funds.

Explanation:

Checking accounts do not have restrictions on the number of withdrawals and deposits that a customer can make. It means one can withdraw and deposit as many times as they want.

The money saves in a savings accounts is considered risk free. The probability of losing the money is negligible. For this reason, a checking account offers a safe and convenient way of depositing and withdrawing.

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An agreement to purchase goods and services with a specified percentage of proceeds from an original sale in that country from a

gizmo_the_mogwai [7]

Answer:

B)an offset.

Explanation:

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3 years ago

A buyer purchased a new residence for $175,000. The buyer made a down payment of $15,000 and obtained a $160,000 mortgage loan.

Naily [24]

Answer:

Buydown, is the right answer.

Explanation:

This is a buydown mortgage arrangement because in the buydown financing technique the buyer tries to take lower interest rates in the initial year of the loan period. Moreover, some mortgage lenders provide buydown discounts or points as part of their promotion. Secondly, the builder pays the initial payment to the mortgage institution that results in the lower buyer’s payment.

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3 years ago

On November 1, 2015, Elli Company declared a dividend of $3.00 per share. Elli Company has 20,000 shares of common stock outstan

Artemon [7]

Answer:

Option (b) is correct.

Explanation:

The Journal entries are as follows:

(i) On November 1, 2015

Retained Earnings [$3 × 20,000] A/c Dr. $60,000

To Dividend Payable $60,000

(To record the declaration of dividend)

(ii) On November 30, 2015

Dividend Payable A/c Dr. $60,000

To cash A/c $60,000

(To record the payment of dividend)

3 0

3 years ago

Which term refers to a system of rules and procedures designed to ensure the accuracy and reliability of financial and accountin

patriot [66]

Answer:

Internal controls is the correct answer.

Explanation:

6 0

3 years ago

On December 31, 2020, Marin Company borrowed $67,653 from Paris Bank, signing a 5-year, $114,000 zero-interest-bearing note. The

igor_vitrenko [27]

Answer:

Journal Entries

December 31, 2020

Dr. Note Receivables $114,000

Cr. Discount on bond $46,347

Cr. Cash $67,653

December 31, 2020

Dr. Impairment loss $20,839

Cr. Allowance for Impairment $20,839

Explanation:

Calculate the discount on the bond as follow

Discount on the bond = Face value of Note - Borrowed Amount = $114,000 - $67,653 = $46,347

On December 31, 2020 calculate the present value of face value of note and recoverable value

Present value of Note = Face value x Discount factor at 11% for 3 years = $114,000 x 1/( 1 + 11%)^3 = $83,355.82

Present value of recoverable value of note = Recoverable value of note x Discount factor at 11% for 3 years = $85,500 x 1/( 1 + 11%)^3 = $62,516.86

Now calculate the impairment loss as follow

Impairment loss = Present value of Note - Present value of recoverable value of note = $83,355.82 - $62,516.86 = $20,838.96 = $20,839

8 0

2 years ago