1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
algol [13]
3 years ago
10

Where do most banks get the text to explain their calculations of interest?

Business
1 answer:
Vinvika [58]3 years ago
6 0

Answer:

Schumer box/Truth in Lending Act

Explanation:

You might be interested in
Assume Aircastle reported $20 million in goodwill on its acquisition of Broadvision. Assume the fair value of the earnout in agr
hoa [83]

Answer:

Journal Entry

Dr. Contingent Consideration Liability $500,000

Cr. Goodwill $500,000

Explanation:

It is assumed that the decline in the fair value is the correction of the acquisition entry. It means due to this event the consideration liability and goodwill are overstated we need to rectify the balances.

Hence,

The contingent consideration liability will be debited to reduce the liability and goodwill will also be decreased by crediting the goodwill account.

4 0
3 years ago
What is the basic purpose of the consumer price index (CPI)? A. to track monthly changes in prices paid by urban consumers B. to
Elina [12.6K]

Answer:

A). to track monthly changes in prices paid by urban consumers.

Explanation:

CPI(Consumer Price Index) is characterized as 'a statistical estimate of the price level of goods and services bought by consumers for consumption purposes by the households.' It primarily aims to estimate the change or swap in the prices of the weighted average price of the common basket(consumption goods, as well as, services that the consumers pay for). It is calculated using the formula;

CPI_{t}  = \frac{C_{t} }{C_{0} } * 100

where,

CPI_{t} = current Consumer Price Index

C_{t} = Current price basket

C_{0} = Cost of price basket in the base year

It assists in deducing whether the average prices have received a fall or rise and determines inflation or deflation. Thus, <u>option A</u> is the correct answer.

6 0
3 years ago
Equipment that cost $875,000 and had a book value of $390,000 was sold for $450,000. Data from the comparative balance sheets ar
Archy [21]

Answer:

a. $1,400,000.

Explanation:

Find the attachment

4 0
3 years ago
On January 1, Year 1, Friedman Company purchased a truck that cost $35,000. The truck had an expected useful life of 200,000 mil
Svetradugi [14.3K]

Answer:

$4620

Explanation:

Activity method based on hours worked = (hours worked that year / total hours of the machine) x  (Cost of asset - Salvage value)

33,000 / 2000,000) x ($35,000 - $7000) = $4620

3 0
2 years ago
Morris Company applies overhead based on direct labor costs. For the current year, Morris Company estimated total overhead costs
Mekhanik [1.2K]

Answer:

Overhead absorption rate

= <u>Budgeted overhead </u>               x 100

  Budgeted direct labour cost

= <u>$400,000 </u>        x 100

   $2,000,000

= 20% of direct labour cost

Overhead applied

= 20% x $1,800,000

= $360,000

The balance in the factory overhead account is $360,000 debit

The correct answer is B

Explanation:

In this case, we need to calculate the overhead application rate, which is the ratio of budgeted overhead to budgeted direct labour cost multiplied by 100. Overhead applied is calculated as overhead application rate multiplied by actual direct labour cost.

6 0
3 years ago
Other questions:
  • Tailoring movies slightly to appeal to different markets, such as editing Iron Man 3 for China, best reflects which kind of inte
    14·1 answer
  • Phillip deposited $7,775 into a savings account 14 years ago. the account has an interest rate of 4.5% and the balance is curren
    10·1 answer
  • In monopoly how do you unmorgage a property
    15·1 answer
  • What countries represent the largest global business opportunities for the next decade
    10·1 answer
  • Prepare a personal budget for one month. Be sure to think through your sources of income and expenses. Be as detailed as you wis
    6·1 answer
  • Which level(s) of government both receive and distribute intergovernmental revenues?
    8·2 answers
  • How many elective courses does a college studebt typically have to take to earn a bachelors degree
    8·1 answer
  • Bryant Company has a factory machine with a book value of $93,100 and a remaining useful life of 5 years. It can be sold for $27
    13·1 answer
  • Zetatron is an all-equity firm with 100 million shares outstanding, which are currently trading for $7.50 per share. A month ago
    11·1 answer
  • Deflation is a period where supply for most products is less than demand.
    13·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!