Answer:
c) A government insurance program that will pay back account holders if the bank or lending institution fails
Explanation:
The FDIC is an acronym for Federal Deposit Insurance Corporation. It was founded by Franklin Roosevelt on the 16th of June, 1933.
FDIC is a government insurance program that will pay back account holders if the bank or lending institution fails.
The income generated from the premium payments of insured banks is used to fund or finance the FDIC.
Answer:
Part 1
Dr Lease rentals $300........ Expense
Cr Cash Account $300
Part 2
Dr Leased Equipment $63,536
Cr Finance Lease Liability $63,536
Explanation:
Part 1. Under the operating leases the lessee pays the monthly rentals which must be accounted for as an expense and the double entry is as under:
Dr Lease rentals $300........ Expense
Cr Cash Account $300
Part 2. Under the finance lease agreement, the lessee pays the value of the asset and the interest as well. So after the date of agreement when the asset is handed over the journal entry would be recording of the equipment received, which would written at its fair value or present value of the payments made. The journal entry would be:
Dr Leased Equipment $63,536
Cr Finance Lease Liability $63,536
Answer:
See below
Explanation:
This transaction is affecting the bank's balance and F brown accounts. It is increasing the bank balance( asset account) by 4000 and increasing accounts payable/F brown ( liabilities account) by 4000.
An increase in assets is debited while an increase in liabilities is credited.
The journal entry will be
Bank A/c Dr. 4000
F brown A/c 4000
Jamal's monthly payment for the car loan is $578.59.
Data and Calculations:
Amount of Jamal's auto loan = $30,000
Term of the auto loan = 5 years or 60 months
Interest rate payable = 5.9% APR
Monthly payment from an online financial calculator:
Monthly Pay = $578.59
Total Loan Amount = $30,000.00
Upfront Payment = $0.00
Total of 60 Loan Payments = $34,715.41
Total Loan Interest = $4,715.41
Total Cost = $34,715.41
Thus, Jamal will be making a monthly payment of $578.59.
Learn more about calculating monthly payments for auto loans at brainly.com/question/11866605
C. Sherbet.
The citrus's <span>acidic sweetness to clear the taste buds.</span>
