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DochEvi [55]
3 years ago
10

After Xavier and Alyssa deposited nearly $55,000 in a savings account at Bigbux Bank, the bank failed and filed for bankruptcy.

Because the Bigbux was an FDIC member bank, Xavier and Alyssa:_______
Business
2 answers:
astraxan [27]3 years ago
6 0

Answer:

Should be okay because their account is fully insured by the FDIC

Explanation:

The Federal Deposit Insurance Corporation (FDIC) is an agency that was formed to protect depositors of US depository organisations.

They provide a standard deposit insurance amount of $250,000 per account for each insured bank and for each account ownership category.

So for example if a client owns multiple savings accounts there will be coverage of $250,000 for all accounts in this category.

In this scenario Xavier and Alyssa are covered because their account balance is below $250,000.

krok68 [10]3 years ago
3 0

Answer: should be protected due to the fact that their account is insured by FDIC.

Explanation:

From the question, we are informed that after Xavier and Alyssa deposited nearly $55,000 in a savings account at Bigbux Bank, the bank failed and filed for bankruptcy but that the Bigbux was an FDIC member bank.

Based on the above scenario, Xavier and Alyssa should be protected due to the fact that their account is insured by FDIC. Since the bank is insured, their money is safe.

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Answer:

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Clarion corp. invested cash in a 6-month certificate of deposit (cd) on november 1, 2015. if clarion corp. has an accounting per
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7 0
3 years ago
On May 7, Jernigan Company purchased on account 640 units of raw materials at $15 per unit. During May, raw materials were requi
Tema [17]

Answer:

Date               Account Title                                              Debit               Credit

May 7             Materials                                                 $9,600

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<u>Working:</u>

= Units purchased * cost per unit

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= $9,600

As the goods were purchased on account, they will be sent to accounts payable. Materials are assets so they will be debited when acquired.

3 0
3 years ago
If a company abandons a segment of its operation, the loss would be reported on the a.income statement immediately after cost of
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steposvetlana [31]

Answer:

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