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2 years ago

Match the financial institutions with the features.

Business

1 answer:

tensa zangetsu [6.8K]2 years ago

4 0

Answer:

Commercial Bank > Offers checking accounts

Financial service company > Offers high-risk loans

Savings and loan association > Provides home mortgages

Credit union > Is owned by its members

Explanation:

1. Commercial Bank > Offers checking accounts

Commercial bank is a financial organization which accepts deposits, offers varieties of products including checking accounts, and provides loans to the public and enterprises.

2. Financial service company > Offers high-risk loans

When a company looks to develop economic growth through the use of money supply from the savings accounts of people, and offers risky loans, that company is said to be a financial service company.

3. Savings and loan association > Provides home mortgages

When an institution acts like a bank by not being a banking institution, and provides mortgages, it is coined as savings and loan association.

4. Credit union > Is owned by its members

Member-based financially operated organizations which helps people to provide financial services like non-risky loans and deposits, that is termed as credit union.

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Answer: The general journal is used to post all accounting entries.

Explanation:

The general journal is the journal where all company transactions are recorded in. In other words, a general journal is the book of original entry where bookkeepers and accountants record business transactions according to the date the transactions take place.

It is the initial place where transactions are recorded, every page in the journal is divided into columns for dates, debit or credit records, serial numbers etc. Some companies keep specialized journals, such as sales journals or purchase journals, which records only a particular type of transactions. When a transaction has been recorded in the general journal, the amount is then posted to the appropriate accounts.

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3 years ago

Read 2 more answers

Why was it sometimes difficult to balance a checking account to a statement?

Juliette [100K]

Because sometimes the check written after the statement closing dates.

Lets say a company do a closing statement on December 26.

A check written between that date until the end of period ( December 26 - December 31), that transaction simply won't appear on the book because the company already closed the statement on December 26

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3 years ago

Sheridan Company received $135000 in cash and a used computer with a fair value of $318000 from Carla Vista Co. for Sheridan Com

sammy [17]

Answer:

The gain that Sheridan should recognize on this exchange is $135000

Explanation:

Where Exchange Transaction lacks commercial substance, the asset that is acquired is measured at the Carrying Amount or Undepreciated Cost of the asset given up.

The gain will then include an further consideration acquired on the exchange of an asset.

Entries to record the exchange are as follows :

Cash $135000 (debit)

New Asset at undepreciated cost $420300 (debit)

Cost of Old asset given up $420300 (credit)

Gain on exchange $135000 (credit)

Conclusion :

The gain that Sheridan should recognize on this exchange is $135000

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3 years ago

Consider ktu as a production system in which the final product is graduate for this

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yes yes very wise :)

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2 years ago

Angell Inc. hired you as a consultant to help them estimate their cost of capital. You have been provided with the following dat

DIA [1.3K]

Answer:

Option (D) is correct.

Explanation:

Given that,

Dividend, D0 =$1.20

Price, P0 = $50.00

Growth rate, g = 6% (constant)

Based on the DCF approach, then

Cost of Equity:

= [D0 × (1 + g) ÷ P0] + g

= [(1.20 × (1 + 0.06)) ÷ 50] + 0.06

= (1.272 ÷ 50) + 0.06

= 0.02544 + 0.06

= 0.08544 or 8.54%

Hence, the cost of equity from retained earnings is 8.54%.

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3 years ago