How should Sophia advise her senator? Why?

1. Should you have a separate checking and saving account?

iris [78.8K]

Back when interest rates were high, I had just one account. I had a money-market checking account that offered good interest rates and unlimited check writing. But those days are long gone.

I want as high an interest rate as I can get for my savings. In order to get those rates, I am using a money-market savings account. All such accounts I’ve seen restrict the number of transactions I can make in a month. I need to be able to pay bills, no matter how many of them there are — and I never ever want to pay fees for excess transactions!

So I have a separate checking account. It pays less than half the interest rate of my savings account, but I can make as many transactions as I want. The bank offers a bill pay application that I use for most payments, and I can write as many checks as I want to. I can transfer money between the accounts quickly.

5 0

3 years ago

From time to time, various groups clamor for import restrictions or tariffs on foreign-produced goods, particularly automobiles.

Misha Larkins [42]

Tariffs can be helpful if the imports are unfairly cheaper than the domestic counterparts. This would level the playing field and help the domestic companies compete more effectively.

Tariffs can be harmful for consumers because there is strong possibility that the increased costs will raise consumer prices.

6 0

3 years ago

The fed can increase the federal funds rate by

Stella [2.4K]

The answer is selling Treasury bills, which decreases bank reserves. The government securities that are used in open market processes are Treasury bills, notes or bonds. If the FOMC needs to grow the money supply in the economy it will acquire securities. On the other hand, if the FOMC wants to decrease the money supply, it will vend its securities.

5 0

3 years ago

. Zoe Corporation has the following information for the month of March: Purchases $ 92,000 Materials inventory, March 1 6,000 Ma

rodikova [14]

Answer:

1. Cost of goods manufactured = $150,500

2. Net income = $36,500

3. Total Inventory = $61,500

Explanation:

Requirement 1

Zoe Corporation

Schedule of cost of goods manufactured

For the month ended March 31

Direct Materials:

Beginning Materials inventory $6,000

Add: Raw materials purchases 92,000

Raw materials available for use $98,000

Less: Ending Raw Materials 8,000

Direct materials used $90,000

Direct Labor 25,000

Prime Cost $115,000

Factory overhead 37,000

Total manufacturing cost $152,000

Add: Work in process, March 1 22,000

Less: Work in process, March 31 (23,500)

Cost of goods manufactured $150,500

Requirement 2

Zoe Corporation

Income Statement for manufacturing company

For the month ended March 31

Sales revenue $257,000

Less: Cost of goods sold

Beginning finished goods inventory $ 21,000

Add: Cost of goods manufactured (Req.1) 150,500

Finished goods available for sale 171,500

Less: Ending finished goods inventory (30,000)

Cost of goods sold 141,500

Gross Profit $115,500

Less: Sales and administrative expenses 79,000

Net operating Income $36,500

Requirement 3

Zoe Corporation

Balance Sheet

As at March 31

Inventory:

Materials $8,000

Work-in-process 23,500

Finished goods 30,000

Total Inventory $61,500

Inventory consists of all the ending materials, ending work-in-process, and ending finished goods. All the ending items need to be shown in the balance sheet because those inventories will remain at hand at the end of the period.

5 0

3 years ago

By examining the spreadsheet below, what part of the financial plan might be missing? A 2-column spreadsheet showing Cash Inflow

gogolik [260]

The correct statement is that in the spreadsheet below, a financial plan for protecting assets is missing. So, the correct option is C.

A financial plan for protection of assets seems to be missing, as there is no payment of premium of insurances in cash outflow columns.

<h3>Financial Plan </h3>

A financial plan refers to as the estimation and strategy making of the cash flows that an individual or an organization is to manage.

In the example above, it can be seen that there are a lot of cash outflows, but not a single dollar is spent on protecting the assets by way of payment of insurance premium.

So, a financial plan for protecting assets is advised to be created, as the individual will require protection against any unwanted and unprecedented losses or damages.

Hence, the correct option is C that in the spreadsheet below, a financial plan for protecting assets is missing as there is no payment towards insurance premiums in the cash outflows.

Learn more about Financial Plan here:

brainly.com/question/1323646

3 0

3 years ago

Read 2 more answers