Answer:
Checking accounts allow convenient ways to deposit or withdraw funds.
Explanation:
Checking accounts do not have restrictions on the number of withdrawals and deposits that a customer can make. It means one can withdraw and deposit as many times as they want.
The money saves in a savings accounts is considered risk free. The probability of losing the money is negligible. For this reason, a checking account offers a safe and convenient way of depositing and withdrawing.
Answer: Debit Interest Receivable and credit Interest Revenue, $2950
Explanation:
Based on the information given in the question, we have to calculate the interest accrued and this will be:
= $590,000 × 6% × 1/12
= $590,000 × 0.06 × 0.08333
= $2949.882
= $2950 approximately
Therefore, the adjusting entry that Sandhill should make on December 31, 2020 will be to:
Debit Interest Receivable and credit Interest Revenue, $2950
Answer:
The number of kanban containers needed for the wheels is 4.2 containers
Explanation:
In order to calculate the number of kanban containers needed for the wheels we would have to calculate the following formula:
number of kanban containers needed for the wheels=Demand rate*(Average processing time+Average waiting time)*(1+Alpha)/Container size
According to the given data we have the following:
Demand rate = 2000 per day
Average processing time= 0.15 day
Average waiting time = 0.25 day
Container size= 200
Alpha= 5%
Therefore, number of kanban containers needed for the wheels=2,000*(0.15+0.25)*(1+0.05)/200
number of kanban containers needed for the wheels=4.2 containers
The number of kanban containers needed for the wheels is 4.2 containers
Answer:
$1,800,000
Explanation:
Equity which represents the amount owed to the owners of the business includes retained earnings (which is the accumulation of the net income/loss over the years less dividends paid) and common shares.
Ending retained earnings = Beginning retained earnings + additional stock issued + net income - dividend paid
= $651000 + $1017000 + $649000 - $376000 - $141000
= $1,800,000