<span>An interest bearing checking account pays interest while a savings account does not. A savings account are available whenever the owner would like them but an interest bearing checking account must be left alone until it hits maturity. Deposits made into a savings account are timed deposits while those made in an interest bearing checking account are technically demand deposits. The interest earned on a regular passbook savings account is taxable as income but the interest earned in an interest bearing checking account is tax deductible.</span>
If there is no unity in a shared system, then diversity can become chaos.
Answer:
$43 million
Explanation:
The cash flow statement categories the company's transactions in a financial period into 3 groups; these are operating, investing and financing.
The net profit/loss, depreciation, changes in current assets (other than cash) and liabilities are considered as operating activities including income taxes.
The sale of assets, interest received, purchase of investments are examples of investing activities while the issuance of stocks, debt principal deduction (loan settlement), issuance of debt securities etc are examples of financing activities.
An increase in assets other than cash is an outflow while an increase in liabilities is an inflow. Depreciation and other non-cash expenses deducted in the income statements are added back while the non-cash income such gain on asset are deducted from net income.
Peridot's Net cash outflows from investing activities (in millions)
= -$38 + $96 + $71 - $86
= $43
The gain from the disposal of land will be deducted from the net income under the cash flows from operating activities while the requisition of own shares is a financing activity.
<span>The process in which specific parts reach a specific facility and arrive on time is known as,"Inbound Logistics".</span>
The entries are as follows
<u>To record estimated returns on Sales</u>
Debit: Sales Refund Payable Account $142,800
Credit: Accounts Receivables $142,800
<u>To record estimated Cost of Sales returns</u>
Debit: Inventory Returns Estimated Account $85,400
Credit: Inventory on Sales on Returns $85,400
<u>Explanation:</u>
<u>To derive the figure for Sales Refund payable for the year</u>
7% of $2,040,000
=7/100*2040000= $142,800
<u>To derive the figure for Inventory cost on Sales Refund payable for the year
</u>
7% of $1,220,000
=7/100*1220000
= $85400
