Which factor is least important when choosing a financial service provider?

The following information pertains to Crane Video Company:

Mashutka [201]

Answer:

Prepare Bank Reconciliation Statement

Balance at Bank as per Cash Book - Up to date $7,972

Less Lodgements not yet credited : ($1,300)

Add Unpresented Cheques $591

Balance as per Bank Statement $7,263

Adjusting Entries

J1

Bank service charge $28 (debit)

Cash $28 (credit)

J2

Cash $700 (debit)

Note - Receivable Crane $700 (credit)

J3

Cash $36 (debit)

Interest Income $36 (credit)

J4

Service Fee $20 (debit)

Cash $20 (credit)

Explanation:

First Update the Cash Book as follows:

<u>Debit :</u>

Cash balance $7,284

Crane $700

Interest $36

Totals $8,020

<u>Credit:</u>

Bank service charge $28

Crane : fee $20

Balance - Up to date $7,972

Totals $8,020

Then, Prepare Bank Reconciliation Statement

Balance at Bank as per Cash Book - Up to date $7,972

Less Lodgements not yet credited : ($1,300)

Add Unpresented Cheques $591

Balance as per Bank Statement $7,263

Adjusting Entries

J1

Bank service charge $28 (debit)

Cash $28 (credit)

J2

Cash $700 (debit)

Note - Receivable Crane $700 (credit)

J3

Cash $36 (debit)

Interest Income $36 (credit)

J4

Service Fee $20 (debit)

Cash $20 (credit)

7 0

3 years ago

On December 1 of Year 1, Jones, a self-employed cash basis taxpayer, took out a loan to use in her business. The loan principal

Phoenix [80]

Answer: $6,000

Explanation:

When expenses such as this interest expense are for 12 months or more, the deduction will need to be evenly spread over the period that they apply to. As the loan was to be repaid in 24 months, the interest payment deductions should be evenly spread over 24 months.

= 12,000/24

= $500

That means that for Year 2, the relevant deduction will be for the 12 months in it;

= 500 * 12

= $6,000

4 0

3 years ago

What do you understand by the term social structure? Explain social roles in the context of social structure and quote real life

Alex73 [517]

Answer:

Social structure is the arrangement in the society where people live and interact together in the society.

Explanation:

Social structure in humanism is considered to be the specific and stable plan of the organizations where the people in general public collaborates and lives respectively. The social structure is often treated together with the very idea of the social change that tries to manage the powers of the people which changes the social structure as well as the association of the society.

Social structure helps the individuals to sort out their current circumstances and it limits which characterize the insiders and the outcasts. Social structure restricts certain alternatives and spots us in the discretionary classes that is not based on the personal preferences.

Karl Marx once stated how the monetary creation is coordinated by central main part of the general public.

7 0

3 years ago

You borrow $12,600 to buy a car. The terms of the loan call for monthly payments for five years at an interest rate of 4.65 perc

UkoKoshka [18]

Answer:

$627

Explanation:

To find the answer, we use the present value of an annuity formula:

$P = A[1-(1+i)^{-n} /i]$

Where:

P = Present value of the investment
A = Value of the annuiry
i = interest rate
n = number of compounding periods

Now, we plug the amounts into the formula:

$12,600 = A[1-(1+0.0465)^{-60} /0.0465\\]$

12,600 = A (20.09870355)

A = 12,600/20.09870355

A = 627

Thus, the value of the monthly payments is $627

4 0

3 years ago

Culture, knowledge, brand equity, reputation, and trade secrets are all examples of: A. Factors that generate economies of scope

Dovator [93]

Answer:

B. Intangible resources

Explanation:

A resource refers to something capable of yielding current or future benefit to an individual or an organization.

Those resources which cannot be perceived or which do not have any physical substance, are referred to as intangible resources.

Intangible resources are valued based upon the expected future economic benefits that they yield.

Examples of intangible assets would be, copyrights, patents, trademarks, brand etc.

As per the given case, culture, knowledge, brand equity, reputation and trade secrets can all be classified as tangible resources since these cannot be felt or perceived, devoid of physical existence and would yield future economic benefits to the ones who possess them.

5 0

3 years ago