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2 years ago

What are financial institutions and why are they so important

Business

1 answer:

laiz [17]2 years ago

6 0

Answer:

Financial institutions, like banks, provide consumers with places to keep their existing funds and provide loan and credit options for future purchases. Financial institutions provide consumers and commercial clients with a wide range of services and different types of banking products.

Explanation:

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Kart Inc., a publishing house, allows employees to log in at their preferred time and log off after completing eight hours. It d

Naddik [55]

Answer:

flexible time

Explanation:

Since their work time is not fixed, these employees have flexible work time. Often, this kind of working time is deemed to be a non-financial work benefit, as most people prefer to define their own work time. Sometimes, it is debated if this is really beneficial for the employees.

Nonetheless, they do have to respect their daily work time slot,

3 0

3 years ago

Bird Corp.'s trademark was licensed to Brian Co. for royalties of 15% of the sales of the trademarked items. Royalties are payab

Romashka-Z-Leto [24]

Answer:

a. $13,000

Explanation:

Calculation for what royalty revenue should be

First step is to find the estimated amount for the second half of the year

Royalties for the second half =

15%*$30,000

Royalties for the second half= $4,500

Now let Compute for the total royalty revenue

Total royalty revenue for 20X5=$8,500+$4,500

Total royalty revenue for 20X5=$13,000

Therefore the royalty revenue should be $13,000

6 0

3 years ago

A jewelry firm buys semiprecious stones to make bracelets and rings. The supplier quotes a price of $8.20 per stone for quantiti

Ket [755]

Answer:

a. 274

b. 295

Explanation:

a. Optimum Order

Optimum Order = √( (2×Total Annual Demand×Ordering cost per order) / Holding Cost per unit)

= √ ((2×101×19×$39) / $2)

= 273.57

= 274

b. Optimum Order

Optimum Order = √( (2×Total Annual Demand×Ordering cost per order) / Holding Cost per unit)

= √ ((2×101×19×$39) / $8.20 ×0.21)

= 294.83

= 295

4 0

3 years ago

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 an investor purchases the net assets of an investee for the cash purchase price is $37,800. The investor is willing to pu

Likurg_2 [28]

Answer:

PPE $35,280 (debit)

Customer List $7,560 (debit)

Cash $1,400 (debit)

Accounts receivable $2,800 (debit)

Inventories $5,600 (debit)

Accounts payable $ 2,800 (credit)

Accrued liabilities $ 4,200 (credit)

Long-term liabilities $ 5,600 (credit)

Gain on Bargain Purchase (Balancing figure) $2,240

Cash $37,800 (credit)

Stockholders’ equity $ 11,200 (debit)

Revaluation Reserve ( $21,280 + $7,560) $28,840 (debit)

Gain on Bargain Purchase (Balancing figure) $2,240

Investment $37,800 (credit)

Explanation:

The Excess of the Purchase Price (Consideration) over the Net Assets taken over is known as the Goodwill.

Whilst Excess of Net Assets taken over against the Purchase Price (Consideration) is known as a Gain on Bargain Purchase.

In this question we have a gain on bargain purchase.

Note that acquisitions happens at Fair Values not Book Values of Investee.

3 0

3 years ago