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3 years ago

Write at least three ways savings accounts differ from checking accounts.

Business

1 answer:

daser333 [38]3 years ago

7 0

Answer:

checking accounts are better for transaction such as paying pills purchases, atm withdraws while saving accounts are better for storing money and earning interest,

Explanation:

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During the first month of operations ended August 31, Kodiak Fridgeration Company manufactured 46,000 mini refrigerators, of whi

notsponge [240]

Answer:

Sales 8,800,000

Less: Cost of goods sold (W1) 5,241,739.13

Contribution 3,558,260.87

Less: Fixed manufacturing cost 598,000

Less: Fixed selling and admin cost 320,000

Net Income 2,640,260.87

(W1) Cost of goods sold

Direct Material 3,450,000

Direct Labour 1,196,000

Variable manufacturing cost 782,000

Variable selling cost 600,000

Total variable cost 6,028,000

Less:closing inventory 786,260.87 (6,028,000/46,000*6,000)

COST OF GOODS SOLD 5,241,739.13

8 0

3 years ago

On January 2, 2013, Gant Co. purchased a franchise with a useful life of five years for $60,000 and an annual fee of 1% of franc

inysia [295]

Answer:

$48,000

Explanation:

The computation of the amount that should be reported as the intangible asset franchise is shown below

= Purchase value of franchise - amortization per year

= $60,000 - ($60,000 ÷ 5 years)

= $60,000 - $12,000

= $48,000

hence, the amount that should be reported as the intangible asset franchise is $48,000

6 0

3 years ago

Prepare the journal entry to record autumn company’s issuance of 63,000 shares of no-par value common stock assuming the shares:

mojhsa [17]

The entry for this transaction would be this:

Land 1,827,000

Ordinary shares 1,827,000

The market value of the shares on this transaction does not affect the recording of this transaction. If the share has no par value, the stated value should be used. Stated value is a value assigned by the company to its stock for the purpose of accounting and it does not have any relation with the market value of the shares. Since stated value is not given in this problem, we should record the entire amount of the land exchanged in this transaction to the "Ordinary shares" account.

7 0

3 years ago

he following production data were taken from the records of the Finishing Department for July: Inventory in process, July 1, 30%

natita [175]

Answer:

The total equivalent units for conversion costs is 40,600.

Explanation:

Under the first-in, first-out method, units that were incomplete for last year are the first to be completed, followed by units started during the year.

Calculation of the total equivalent units for conversion costs :

To Finish Opening Work In Process (5,000 × 70%) = 3,500

Started and Completed ((40,500 - 5,000) × 100 %) = 35,500

Closing Work In Process ( 4,000 × 40%) = 1,600

Total equivalent units for conversion costs = 40,600

Conclusion :

The total equivalent units for conversion costs is 40,600.

5 0

3 years ago

1. Of the following statements, which one or ones describe actions harmful to your credit score?

aev [14]

1 owing a lot of money

5 0

4 years ago

Read 2 more answers