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3 years ago

The bank pay for the use of money in the form of

Business

1 answer:

Snowcat [4.5K]3 years ago

6 0

Answer:

see below

Explanation:

Banks pay interest on customer deposits. It means that a customer's deposit will grow if left at the banks for some period. When a customer deposits, the bank retains only a small fraction of the money in its custody. The bigger portion is loaned out to other customers. Therefore, a bank uses customer deposits to create loans. In return, the banks will pay customers interest for the use of their deposits. Banks also charge interest when they loan out money.

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In many larger U.S. based firms the __________ matches the overall strategy of the firm and reinforces the __________ emerging f

dimulka [17.4K]

Answer:

reward system; culture

Explanation:

Reward systems in an organization provide evidence of the culture practices of that organization. Reward schemes represent the values and norms of the company that people follow or promote.
Culture is regarded as an expression of organizational values that guide the organization and groups to advance in positions of power. The concept of performance standards and reward planning (key elements of the reward system) comes from the organizational culture.
Many researchers and practitioners have observed the interdependence between organizational culture and reward systems. The reward system develops from the cultural changes that take place in the everyday events of organizational life.

6 0

3 years ago

Assume that Beaver uses the periodic system, and the end of period ending inventory for January is 110 units. a. Prepare all nec

aleksandr82 [10.1K]

Answer:

Part 1 a

jan 4

Debit ; Accounts Receivable (80 x $8.00) $640

Credit : Revenue $640

jan 11

Debit ; Purchases (150 x $6) $900

Credit : Accounts Payable $900

jan 13

Debit ; Accounts Receivable (120 x $8.75) $1,050

Credit : Revenue $1,050

jan 20

Debit ; Purchases (160 x $7) $1,120

Credit : Accounts Payable $1,120

jan 27

Debit ; Accounts Receivable (100 x $9.00) $900

Credit : Revenue $900

jan 31

Debit ; Cost of Sales (100 x $5 + 150 x $6 + 160 x $7) $2,520

Credit : Inventory $2,520

Part 1 b

Gross Profit = Sales - Cost of Sales

Sales = ( 80 x $8.00 + 120 x $8.75 + 100 x $9.00) = $2,590

Cost of Sales = (100 x $5 + 150 x $6 + 160 x $7) = $2,520

Therefore,

Gross Profit = $2,590 - $2,520

= $70

Part 2 a

jan 4

Debit ; Accounts Receivable (80 x $8.00) $640

Debit : Cost of Sales (80 x $5.00) $400

Credit : Revenue (80 x $8.00) $640

Credit : Inventory (80 x $5.00) $400

jan 11

Debit ; Purchases (150 x $6) $900

Credit : Accounts Payable $900

jan 13

Debit ; Accounts Receivable (120 x $8.75) $1,050

Debit : Cost of Sales (20 x $5.00 + 100 x $6) $700

Credit : Revenue (120 x $8.75) $1,050

Credit : Inventory (20 x $5.00 + 100 x $6) $700

jan 20

Debit ; Purchases (160 x $7) $1,120

Credit : Accounts Payable $1,120

jan 27

Debit ; Accounts Receivable (100 x $9.00) $900

Debit : Cost of Sales (50 x $6.00 + 50 x $7) $650

Credit : Revenue (100 x $9.00) $900

Credit : Inventory (50 x $6.00 + 50 x $7) $650

Part 2 b

Gross Profit = Sales - Cost of Sales

Sales = ( 80 x $8.00 + 120 x $8.75 + 100 x $9.00) = $2,590

Cost of Sales = ($400 + $700 + $650) = $1,750

Therefore,

Gross Profit = $2,590 - $1,750

= $840

Explanation:

Hie, see the attached the full question as images below

Part 1

Note that the question in this part requires us to use the Periodic Inventory System. In Periodic Inventory system, Inventory Valuation and calculation of Cost of Goods Sold is done at the end of the Period, in this case at the end of the month of January.

Part 2

Again it is important to note that the question in this part requires us to use the Perpetual Inventory System. In Perpetual Inventory system, Inventory Valuation and calculation of Cost of Goods Sold is done at the after each and every transaction made.

Overall Comment

The Company use of FIFO should be considered in both the Periodic Inventory System in Part 1 and Perpetual Inventory System in Part 2. FIFO method assumes that the first goods received by the business will be the first ones to be delivered to the final customer.

That said, Cost of Sales for Part 1 are determined and recognized at the end of the period and Cost of Sales for Part 2 are determined and recognized after every sale transaction made

4 0

3 years ago

Sunland Company compiled the following financial information as of December 31, 2017: Service revenue $842000 Common stock 17700

posledela

Answer:

555,000

Explanation:

Sunlad assets on December 31 2017 can be calculated as follows

= equipment + cash + supplies + account receivables

= 229,000 + 203,000 + 33,000+ 90,000

= 555,000

Hence Sunland total assets in December 31 2017 is 555,000

7 0

3 years ago

Read 2 more answers

Whether a business makes a profit or loss is determined by the difference between the total amount of money a business takes in,

elena55 [62]

Answer:

Revenue/Income; Expenses

Explanation:

Profit or Loss is determined as the difference between the revenue made by a business (also known as its income), and the expenses spent in the process of generating that revenue.

$Profit/Loss = Revenue - Expenses$

If the difference is positive, the outcome is a profit. If the difference is negative, the outcome is a loss.

5 0

3 years ago

19) Which of the following is a fom of business organization that offers limited liability to its owners

Lisa [10]

Answer:

B. Corporation

Explanation:

Corporation is a complex structure of business ownership recognized as separate and distinct from its owners. A corporation is subdivided into small units called stocks, equity, or shares. Each share or stock represents a small part of the company. Owning a share of a corporation is equivalent to owning a small portion of the corporation. A corporation issues shares to investors when it intends to raise additional capital. The shares of corporations are traded at the securities exchange markets.

Shareholders is the title given to owners of a corporation's shares. one feature of a corporation is that it offers its shareholders limited liability to the company's debts. Should the corporation fail in meeting its obligations, shareholders' personal assets cannot be used to settle the debts.

6 0

2 years ago