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3 years ago

Thrift institutions include Select one: a. insurance companies. b. brokerage firms c. mutual savings banks. d. commercial banks.

Business

1 answer:

ddd [48]3 years ago

4 0

Answer:

Explanation:

A thrift institution is an institution that receives a large proportion of its funds from savings made by the public

types of thrift institutions include :

Savings and loan association
Mutual savings bank
Credit union

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What modification options are available in Design view of a report? Check all that apply.

Sergeu [11.5K]

Answer:

A,B,C,F

Explanation:

6 0

3 years ago

Read 2 more answers

The following data are taken from the financial statements of Sigmon Inc. Terms of all sales are 2/10, n/45. 20Y3 20Y2 20Y1 Acco

Marta_Voda [28]

Answer:

Sigmon Inc.

1. Accounts receivable turnover = Sales/Average accounts receivable

20Y3 = 8.49x

20Y2 = 7.75x

2. Number of days sales in receivables = 365/Accounts receivable turnover

20Y3 = 43 days

20y2 = 47.1 days

3. The collection of accounts receivable has improved from 47.1 days to 43 days. This can be seen in both the in accounts receivable turnover and the in the collection period.

Explanation:

a) Data and Calculations:

Terms of all sales are 2/10, n/45

20Y3 20Y2 20Y1

Accounts receivable, end of year $710,000 $630,000 $565,000

Sales on account 5,691,000 4,628,500

Average accounts receivable 670,000 597,500

1. Accounts receivable turnover = Sales/Average accounts receivable

20Y3 = 8.49x ($5,691,000/$670,000)

20Y2 = 7.75x ($4,628,500/$597,500)

2. Number of days sales in receivables = 365/Accounts receivable turnover

20Y3 = 43 days (365/8.49)

20y2 = 47.1 days (365/7.75)

4 0

3 years ago

Assume that Clampett, Incorporated, has $200,000 of sales, $150,000 of cost of goods sold, $60,000 of interest income, and $40,0

liubo4ka [24]

Answer:

$21,000

Explanation:

Calculation to determine Clampett, Incorporated's excess net passive income tax

Using this formula

Excess net passive income tax = ( Interest income + Dividends ) × Tax rate

Let plug in the formula

Excess net passive income tax = ( $60,000 + $40,000 ) × 0.21

Excess net passive income tax = $21,000

Therefore Clampett, Incorporated's excess net passive income tax will be $21,000

4 0

3 years ago

On December 31, Jarden Co.'s Allowance for Doubtful Accounts has an unadjusted credit balance of $14,000. Jarden prepares a sche

ahrayia [7]

Answer and Explanation:

a. The required balance of allowance for doubtful debts is shown below:

Particulars Account receivable % Estimated uncollectible

Not yet due $860,000 1.20% $10,320

1 to 30 days $344,000 1.95% $6,708

31 to 60 days $68,800 6.45% $4,438

61 to 90 days $34,400 32.50% $11,180

Over 90 days $13,760 67.00% $9,219

Estimated balance $41,865

b. The adjusting entry is

Bad debt expense Dr ($41,865 - $14,000) $27,865

To Allowance for doubtful debts $27,865

(being the bad debt expense is recorded)

For recording this we debited the bad debt expense as it increased the expenses and credited the allowance for doubtful debts as it decreased the assets

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4 years ago

Shania offers to sell her lakefront property to Tonya for $150,000, and Tonya agrees to buy it. Tonya and Shania both sign the r

Lina20 [59]

Some of the likely things which a court would do if Tonya sues to enforce the contract are:

1. X not enforce the contract, because people are free to choose to whom they sell their property.
2. award monetary damages to Tonya.
3. require Shania to go through with the sale.
4. X grant specific performance by requiring Shania to find a comparable piece of land for Tonya at a comparable price.

<h3>What is a Contract?</h3>

This refers to the legally binding agreement which is entered by two or more parties based on terms and conditions.

With this in mind, we can see that because Shania wants to sell her lakefront to Tonya for $150,000 and they sign a contract but before they close the deal, Shania discovers that the property prices would go up and declines to sell.

In conclusion, if Tonya sues to enforce the contract, we can see that the contract would not be enforced, but Tonya would be paid monetary damages.