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3 years ago

11

Many checking accounts offer multiple ways of accessing money in addition to checks. Which of these can be used to access money

in a checking account?
debit card
credit card
certificate of deposit
passbook

2 answers:

Artemon [7]3 years ago

4 0

Debit card can be used to access money in a checking account.

Vesna [10]3 years ago

3 0

Debit card , passbook

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You just won the Powerball and are offered two payment options: 1) Receiving $80 million per year for 25 years beginning at next

laila [671]

Answer: $80 million per year for 25 years

Explanation:

The option you should choose is one that will guarantee you the highest present value.

This means that you need to discount the annual payment of $80 million per year for 25 years to find the present value. As you did not include a rate, we shall assume a rate of 8% for reference purposes.

The annual payment is an annuity so the present value can be calculated by:

Present value of annuity = Annuity payment * Present value interest factor, rate, no. of years

= 80,000,000 * Present value interest factor, 8%, 25 years

= 80,000,000 * 10.6748

= $‭853,984,000‬

<em>The present value of the annual payment is more than the present value of the $850 million received today so the Annual payment should be taken. </em>

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3 years ago

Which of the following would not be considered by a family owned business in their process of deciding to decide?

san4es73 [151]

A family owned business will consider the budget, profit, goal of the business, status of the business, among others. Although this business might have a difficulty considering the welfare of their employees when deciding an important deal. They will have a difficulty empathizing with their employees since they are more focus on their business than their people.

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3 years ago

Abba, Inc. is considering dropping a product line. During the prior year, the line had sales of $207,000 and a contribution marg

damaskus [11]

Answer:

Overall net income will decrease by $34,000.

Explanation:

Calculation to determine net operating income

Using this formula formula

Net operating income=Contribution margin -Avoidable costs

Where,

Contribution margin =$124,000

Avoidable costs= Salaries $60,000

+Advertising $20,000+Administrative expenses $10,000

Let plug in the formula

Net operating income=$124,000-($60,000+$20,000+$10,000)

Net operating income=$124,000-$90,000

Net operating income=$34,000 Decrease

Therefore If this product line is dropped overall net operating income will:decrease by $34,000

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3 years ago

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lidiya [134]

Answer:

Bank A/c Dr $63,000

To Notes Payable $63,000

(Being the issuance of the installment note for cash is recorded)

Explanation:

The journal entry is shown below:

Bank A/c Dr $63,000

To Notes Payable $63,000

(Being the issuance of the installment note for cash is recorded)

For recording this transaction, we debited the bank account as it increased the assets account and at the same time it decreased the liabilities so the notes payable is credited

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3 years ago

First, we will start with annual depreciation. We will always use straight-line depreciation in this course Consider a firm that

NARA [144]

Answer:

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3 years ago