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xeze [42]
3 years ago
12

If a person has ATM fees each month of $16 for 7 years, what would be the total cost of those banking fees

Business
1 answer:
kherson [118]3 years ago
5 0

The total cost of those banking fees for the 7 years would be $1,344

<h3>What is bank fee?</h3>

Bank fee are fees paid to the financial institution one opened the account with, simply to keep it open and running and covers a certain number of transactions per month. Banks charge bank fees to pay salaries and other overheads, and physical branches.

With regards to the above,

Total cost

= Cost per month × 12 months per year × Number of years

= $16 × 12 × 7

= $1,344

Hence,  the total cost of those banking fees for the 7 years would be $1,344

Learn more about banking fees here : brainly.com/question/24124875

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On January 1, Year 1, Samuel Company leases equipment from Lease Corp. The lease agreement specifies five annual payments of $50
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Answer:

Cash (Dr.) $50,000

Lease Receivable (Cr.) $50,000

Explanation:

Lessor is the person who leases the item to gain financial benefit from the asset user lease. Lessee is a person who uses the assets but does not owns it so he pays lease rentals. In the given scenario the lease recoding at inception in the lessor books will be cash debit and lease receivable credit.

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3 years ago
True or false
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Describe how the biodiversity crisis extends throughout the hierarchy of biological organization.
daser333 [38]

Answer:

Explained below:

Explanation:

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Consider the market for portable air conditioners in equilibrium. A summer of unseasonably cool weather would cause:
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C.

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Knelling Company reported a balance in Accounts Receivable of $50,000 and a credit balance of $3,000 in the Allowance for Doubtf
Crank

Answer:

Bad Debt A/c Dr  $9,000

To Credit Allowance for Bad & Doubtful  A/c    $9,000

Explanation:

According to the scenario, the journal entry are given below:

Journal Entry:

Bad Debt A/c Dr  $9,000

To Credit Allowance for Bad & Doubtful  A/c    $9,000

(Being the Bad debt A/c is recorded)

The computation for bad debts are given below:

 Bad debts = Uncollectible Amount - Credit balance in Allowance for doubtful A/c

Where,

Uncollectible Amount = $12,000

Credit balance in Allowance for doubtful A/c = $3,000

By putting the value we get,

= $12,000 - $3,000

= $9,000

8 0
3 years ago
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