Answer:
D. Loans are the largest assets and deposits are the largest liabilities
Explanation:
Banks represent financial institutions wherein customers can either save their money or borrow money. Banks ideally serve as an intermediary between borrowers and lenders.
Banks avail funds from the lenders who want to deposit and keep their money safe. Such depositors are paid an interest on the money deposited. Out of the pool of funds created through such deposits, a bank lends these funds to the borrowers who are in need at a rate higher than the rate it provides to it's depositors.
Thus, the money granted as loan to the borrowers by a bank represent it's largest assets, which it will receive in future. While deposits, which the bank has to return to the depositors upon demand, represent a bank's largest liabilities which it must meet.
Answer: $11,000
Explanation:
The solution to this problem is not tedious or complicated
Solution;
Amount is = $110,000
Percentage of down payment is given as = 10%
To get the amount of the down payments we find the 10% of $110,00
10% of $110,000 is = 10÷100
=0.1
We multiply it by the amount which is 0.1×110,000= $ 11,000
Answer:
Assets is the answer. A is correct
Answer:
A Public company.
Explanation:
A public company can be described as a commercial organization that has its share capital formed by shares, that is, the company sells its shares to the public, who become partners in the company.
The shares of a public company are traded on the stock exchange freely, without the need for any type of public bookkeeping.
The company's shareholders can be composed of any type of person who is interested in buying shares in the company.
Private companies generally become public because of the possibility of obtaining capital, which generates greater revenue for the company and greater possibility for growth and investment in business.
Answer:
net sales: 638,000
Explanation:
Accounting works on accrual basis. We must match the transaction with the period they occur. The year-end adjustment are done to reflect the discount, return and allowance forthe current year sales so; we must include thme in the calculation for this year. If not, then we will be charging next year sales with discount on sales of the previous year.
salesrevenue : 750,000
discount (20,000 + 2,000) (22,000)
allowance (30,000 + 4,000) (34,000)
returns (50,000 + 6,000) (56,000)
net sales: 638,000