Answers
Answer: Savings account at a member bank
Explanation:
After the Great Depression caused many to lose their savings on account of so many banks failing, the Federal Government under President Roosevelt established the Federal Deposit Insurance Corporation (FDIC) to ensure that it doesn't happen again.
The FDIC protects the deposits of depositors into banks that are members of the FDIC so if you have money in a member bank, you are insured up to $250,000 should the bank fail.
Credit Unions are not covered by the FDIC but are covered by the National Credit Union Administration (NCUA).
Related Questions
The balance sheet of Tech Track reports total assets of $400,000 and $600,000 at the beginning and end of the year, respectively. Sales revenue for the year is $1,000,000 ($800,000 in the previous year), net income is $40,000, and net cash flows from operating activities are $50,000. How does Tech Track's asset turnover compare to the industry average of 2.0 times
Answers
Answer: Same as
Explanation:
From the information given in the question, the asset turnover of Tech Track will be calculated thus;
Firstly, Average Assets will be:
= (beginning Assets + ending Assets)/2
= ($400000 + $600000)/2
= $1,000,000/2
= $500,000
Then, the assets turnover ratio will be:
= Sales / average Assets
= $1,000,000 / 500,000
= 2 times
Therefore, Tech Track's asset turnover is same as the industry average of 2.0 times.
At the beginning of June, Circuit Country has a balance in inventory of $2,000. The following transactions occur during the month of June.
June 2 Purchase radios on account from Radio World for $1,700, terms 1/15, n/45.
June 4 Pay freight charges related to the June 2 purchase from Radio World, $200.
June 8 Return defective radios to Radio World and receive credit, $300.
June 10 Pay Radio World in full.
June 11 Sell radios to customers on account, $3,000, that had a cost of $2,200.
June 18 Receive payment on account from customers, $2,000.
June 20 Purchase radios on account from Sound Unlimited for $2,800, terms 3/10, n/30.
June 23 Sell radios to customers for cash, $4,300, that had a cost of $2,600.
June 26 Return damaged radios to Sound Unlimited and receive credit of $300.
June 28 Pay Sound Unlimited in full.
Required:
1.
Assuming that Circuit Country uses a perpetual inventory system, record the transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
2.
Prepare the top section of the multiple-step income statement through gross profit for the month of June
Answers
Answer:
Part 1
Recording of transactions
June 2
Debit : Merchandise Inventory $1,700
Credit : Accounts Payable $1,700
June 4
Debit : Freight expenses $200
Credit : Cash $200
June 8
Debit : Accounts Payable $300
Credit : Merchandise Inventory $300
June 10
Debit : Accounts Payable $1.400
Credit : Discount received $14
Credit : Cash $1,386
June 11
Debit : Accounts Receivables $3,000
Debit : Cost of sales $2,200
Credit : Sales Revenue $3,000
Credit : Merchandise Inventory $2,200
June 18
Debit : Cash $2,000
Credit : Accounts Receivables $2,000
June 20
Debit : Merchandise Inventory $2,800
Credit : Accounts Payable $2,800
June 23
Debit : Accounts Receivables $4,300
Debit : Cost of sales $2,600
Credit : Sales Revenue $4,300
Credit : Merchandise Inventory $2,600
June 26
Debit : Accounts Payable $300
Credit : Merchandise Inventory $300
June 28
Debit : Accounts Payable $2,500
Credit : Discount received $75
Credit : Cash $2,425
Part 2
Circuit Country
Multiple-step income statement for the month of June
Sales Revenue ($3,000 + $4,300) $7,300
Less Cost of Sales ($2,200 + $2,600) ($4,800)
Gross Profit $2,500
Explanation:
Part 1
Perpetual inventory system keeps accurate records of the cost of sales and inventory balance after each and every purchase and sale made.
Also remember, Payments are always made less of credit allowance and discount (if payment is done within the discount period).
Part 2
A multiple -step up to gross profit is required. The data concerning Sales and Cost of Sales can be easily extracted from the records.
what is warehousing and a warehouse
Answers
Answer: See explanation
Explanation:
Warehousing refers to the act of storing goods which will then be distributed later or sold. Companies normally have a room or building where they keep their goods and such place are designed for storage.
The Functions of Warehousing include:
• Storage
• Purchasing of goods
• Inventory management.
• Materials handling, and packaging.
On the other hand, a warehouse refers to the building that is used for storing goods and making them available later when they are needed.
Which one of these values can you usually expect from persons of integrity?
Answers
Answer:"They take responsibility for their actions."
Explanation:
Among the following choices one of the values that you can usually expect from persons of integrity is that they take responsibility for their actions. They are really respected by other people.
The jackson family is undecided about whether or nara buy a new car of the
probability is 9 that they will buy one, and if the probability is that they will
buy a Ford, and if the probabinty that they will purchase a cong
more than 20 miles per gallon what is the probablity that the webwether
a car getting more than 20 miles per al on or a Ford fiere e ne todas
Answers
The question is incomplete. The complete question is :
The Jackson family is undecided about whether or not to buy a new car. If the probability is .9 that they will buy one, and if the probability is .3 that they will buy a Ford, and if the probability is .4 that they will purchase a car getting more than 20 miles per gallon, what is the probability that they will buy either a car getting more than 20 miles per gallon or a Ford, if all Fords get more than 20 miles per gallon?
Solution :
Given that :
The probability of buying a new car, [tex]P(NC) = 0.9[/tex]
Probability of buying Ford = 0.3
That is, if Jackson family buy a car that is a ford car, [tex]$P(F) = 0.9 \times 0.3$[/tex]
= 0.27
The probability for getting more than 20 miles per gallon = 0.4
That is if Jackson family buy a car that have more than 20 miles per gallon mileage, [tex]$P(20) = 0. 9 \times0.4=0.36$[/tex]
The conditions
All of the car have more than 20 miles per gallon mileage.
It means that buying a ford car is subset of getting more than 20 miles per gallon.
[tex]$P(20 \text{ miles per gallon}\ \cap \ \text{Ford})=P(F)$[/tex]
Therefore, the probability of buying a car either getting more than 20 miles per gallon or ford = [tex]$P(20 \text{ miles per gallon}\ \cup \ \text{Ford})$[/tex]
Therefore,
[tex]$P(20 \text{ miles per gallon}\ \cup \ \text{Ford})=P(20) + P(F) - P(20 \text{ miles per gallon }\cap \ \text{Ford})$[/tex]
[tex]$P(20 \text{ miles per gallon}\ \cup \ \text{Ford})=P(20) + P(F) - P(F)$[/tex]
[tex]$P(20 \text{ miles per gallon}\ \cup \ \text{Ford})=P(20) $[/tex]
= 0.36
Thus the probability that Jackson family is buying a car either getting more than 20 miles per gallon or ford is 0.36
What does a person need if he or she is not able to pay for a planned purchase in full with a check or cash? A. a credit card B. a good credit score C. a long-term loan from a bank D. an interest-free loan from a credit union
Answers
Answer:
A. a credit card
Explanation:
A credit card can be defined as a small rectangular-shaped plastic card issued by a financial institution to its customers, which typically allows them to purchase goods and services on credit based on the agreement that the amount would be paid later with an agreed upon interest rate.
Generally, there are three (3) main types of credit card and these includes;
I. Debit card.
II. Prepaid card.
III. Retail charge cards.
A person needs credit card, if he or she is not able to pay for a planned purchase in full with a check or cash.
In conclusion, businesses or companies that avail their customers the opportunity to pay using a credit card will experience an increase in the number of customers that would patronize them because they are typically buying the goods and services on credit.
The amount of xylene that can be used in household paint is legally limited to 0.03 percent. Anything beyond this amount is hazardous to health and the environment, and considered a legal offense. Consequently, CW Paints Corp. has vouched to make its products as safe as possible. Therefore, it manufactures xylene-free paints even though this increases its costs and reduces the dividends paid to its shareholders in the long run. Which of the following responsibilities is CW Paints Corp. primarily compromising in this scenario?
A) legal responsibilities toward the government
B) economic responsibilities toward its shareholders
C) philanthropic responsibilities toward the local community
D) ethical responsibilities toward the society
Answers
Answer: B) economic responsibilities toward its shareholders
Explanation:
The primary purpose of a company is to maximize shareholder wealth. This means that it is to pursue strategy that would ensure the maximum return to its shareholders. This is also known as its economic responsibility towards shareholders.
Producing xylene-free paints reduces the dividends that are going to shareholders so it would seem that shareholder wealth is not being maximized and they are not getting the maximum return they could get so the company is violating its economic responsibilities towards shareholders. It is for a good cause though.
A company that makes shopping carts for supermarkets and other stores recently purchased some new equipment, installed on each existing machine, that speeds up each machine and as a result reduces the labor content of the jobs needed to produce the shopping carts. Prior to buying the new equipment, the company used four workers and two machines, who produced an average of 80 carts per hour. Workers receive $10 per hour per worker, and machine cost was $20 per hour per machine. With the new equipment, it was possible to transfer two of the workers to another department, and machine cost increased by fifty percent per hour per machine; while output increased by twenty five percent per hour. In both old and new systems, this process operates for 8 hours every day, 7 days a week, 52 weeks a year. Compute the multifactor productivity measure under the new system. Use carts per $ as the measure of productivity.
Answers
Answer:
Multifactor productivity measure under the new system = 0.91 carts
Explanation:
This can be caculated as follows:
New average carts produced per hour = Old average carts produced per hour * (100% + Percentage increase in the old average carts produced per hour) = 80 * (100% + 25%) = 100
New number of workers = Old number of workers - Number of workers that can be transferred to another department = 4 - 2 = 2
Workers’ wages per hour = $10, or 10
New machine cost per hour for three machines = (Old machine cost per hour per machine * (100% + Percentage increase in the old machine cost per hour per manchine)) * Number of machines = ($20 * (100% + 50%)) * 3 = $90, or 90
Therefore, we have:
Multifactor productivity measure under the new system = New average carts produced per hour / ((New number of workers * Workers’ wages per hour) + New machine cost per hour for three machines) = 100 / ((2 * 10) + 90) = 0.91 carts
Following are transactions of Gotebo Tanners, Inc., a new company, during the month of January: Issued 10,000 shares of common stock for $15,000 cash. Purchased land for $12,000, signing a note payable for the full amount. Purchased office equipment for $1,200 cash. Received cash of $14,000 for services provided to customers during the month. Purchased $300 of office supplies on account. Paid employees $10,000 for their first month's salaries. What was the balance of Gotebo's Cash account following these six transactions
Answers
Answer:
$17,800
Explanation:
Calculation to determine the balance of Gotebo's Cash account following these six transactions
Using this formula
Cash Account= Beginning Cash-Office equipment+Cash for Service rendered-Employee salaries
Let plug in the formula
Cash account = ($15,000 - $1,200 + $14,000 - $10,000)
Cash account= $17,800
Therefore the balance of Gotebo's Cash account following these six transactions is $17,800
Quest
Which of the following is a benefit for a company with a positive
organizational climate?
O A. It will promote disruptions that will lead to worse communication.
O B. Employees will be less motivated to see their company succeed.
C. it will have trouble attracting quality potential employees.
O D. Employees will be more receptive to the needs of their managers.
SUBMIT
Answers
Employees will be more receptive to the needs of their managers
Answer D is correct. This is the only positive outcome of all the answers.
which of the following question types of specific values to determine the importance of a particular item?
force choice
open ended
rank order
rating scale
Answers
Answer:
I think Its C: Rank order
Explanation:
You hold currency from a foreign country. If that country has a higher rate of inflation than the United States, then over time the foreign currency will buy a. more goods in that country and buy more dollars. b. more goods in that country but buy fewer dollars. c. fewer goods in that country but buy more dollars. d. fewer goods in that country and buy fewer dollars.
Answers
Answer:
d. fewer goods in that country and buy fewer dollars.
Explanation:
In the case when the currency is hold from the foreign country and if the country contains the high inflation rate as compared with the united states so here the less goods in that country should be purchased at less dollars that means it shows the positive relationship between the goods and the dollars value
Therefore as per the given situation, the option d is correct
Checking account A charges a monthly service fee of $3 and a per-check fee
of $0.02, while checking account B charges a monthly service fee of $2 and a
per-check fee of $0.03. How many checks would a person have to write for
the two accounts to cost the same?
O A. 22
O B. 100
O, C. 0
O D. 35
Answers
Answer: B. 100
Explanation:
To find this out, we shall assume that the number of checks that should be written for the two accounts to cost the same will be x.
The cost of Account A assuming x number of checks is:
= 3 + 0.02x
For Account B this is:
= 2 + 0.03x
Equate both expressions:
3 + 0.02x = 2 + 0.03x
3 - 2 = 0.03x - 0.02x
0.01x = 1
x = 1 / 0.01
x = 100 checks
Conduct online research on different types of cover letters. Observe the cover letters and list the strong points of each cover letter. Based on the observations of different cover letters, create a cover letter of your own, assuming that you are applying for a company of your choice.
Answers
Answer:
the investigation of encyclopedia in the photosynthesis of America
Explanation:
The water flies ontop the bridge challenge to them
Cleopatra is a sales agent for Caesar under a written listing agreement to sell Caesar's home on the range. Tiberius and Claudius are unrepresented buyers interested in purchasing Caesar's home. Cleopatra tells Tiberius about Claudius' offer and tells him he must beat the offer; Cleopatra doesn't tell Claudius about Tiberius because she thinks Tiberius is a much better fit for Caesar's lovely Grecian-style mansion, and Claudius hasn't yet applied for financing with Roman Bank. What are Cleopatra's actions an example of
Answers
Answer:
Violating duty of fairness to Claudius
Explanation:
Duty of fairness is defined as the process by which administrative decisions are made in in a fair manner so that the affected parties have an opportunity to put forward their views before the decision is made.
This results in a more inclusive decision making process.
In the given scenario Cleopatra decided to tell Tiberius about Claudius' offer and tells him he must beat the offer; Cleopatra doesn't tell Claudius about Tiberius because she thinks Tiberius is a much better fit for Caesar's lovely Grecian-style mansion.
This is unfair to Claudius as preferential treatment is being given to Tiberius.
A company that lacks a competitively powerful stand-alone resource Multiple choice question. will be unable to develop competencies through cross-functional efforts. may attempt to develop a competitive advantage through resource bundling. must continue searching for a resource that passes five tests of competitive power. is likely to be a failure in the marketplace.
Answers
Answer:
may attempt to develop a competitive advantage through resource bundling.
Explanation:
Competitive advantage can be defined as conditions, factors or circumstances that allow a business firm (organization) to manufacture finished goods or services better and perhaps cheaper than other (rival) firms in the same industry. Thus, it's responsible for putting a business firm in a superior or more favorable position than rival firms.
This ultimately implies that, a competitive advantage has a significant impact on a business because it increases its level of sales, revenue generation and profit margin when compared to rival firms in the same industry.
A company that lacks a competitively powerful stand-alone resource that would significantly propel it to the top of the market or industry it's operating in, may attempt to develop a competitive advantage over its competitors or rivals in the same industry through resource bundling and optimum use of these resources.
give four basic functions of the government
Answers
the 4 functions of government are:
1.maintain and make laws
2.raise taxes
3.protect environment
4.national defence
Answer:
listening to the citizens before making decisions .Helping in the development activities .making suitable rules and regulations for the country .Providing citizenship cards to the every citizens of the country .hope it is helpful to you
Oil reserves buried deep underground are _____. Please choose the correct answer from the following choices, and then select the submit answer button. infinite take hundreds of years to replenish largely inside U.S. borders finite and take millions of years to replenish take hundreds of years to replenish and largely lie outside U.S. borders
Answers
Answer:
finite and take millions of years to replenish
Explanation:
Oil reserves can be regarded as a the amount of crude oil which can be recovered technically at a cost which is feasible financially as regards present price of oil. Therefore, there will always be change in reserve with the price, compare with oil resources, that encompass all oil which can be technically recovered at any price.
Oil reserves can also be explained as estimate amount of crude oil that is been located in a particular economic region. oil reserves always posses potential of being extracted through current technological constraints. Calculations of Reserves based on a proven/probable basis, which means that oil pools which is situated in unattainable depths, cannot be said to be part of a nation's reserves. It should be noted that Oil reserves buried deep underground are finite and take millions of years to replenish
Although a consumer may be happy with your company’s product/service, they will not hesitate to switch if another company provides additional value. This is why you should strive to ________ your customers
Answers
Answer:
delight
Explanation:
Consumer satisfaction refers to the level of happiness that a customer derives from the consumption or use of any product or service. The information related to the customer satisfaction is derived from the surveys and ratings. These information helps in the betterment and improvement of the product and services.
Delighting the customer is a very important part of marketing. This helps in maintaining the customer relation.
Recommended FIVE ways in which employees can manage Stress in the workplace
Answers
Answer:
Encourage Open Communication. ...
Offer Mental and Physical Health Benefits. ...
Bring in Meditation Classes. ...
Offer Paid Time Off. ...
Encourage Employees to Take Breaks. ...
Take the Team Out on Company Offsites. ...
Bring Some Diversions into the Office. ...
Consider Flexible
Christopher is a self-employed cash-method, calendar-year taxpayer, and he made the following cash payments related to his business this year. Calculate the after-tax cost of each payment assuming Christopher has a 37 percent marginal tax rate. a) $500 fine for speeding while traveling to a client meeting. b) $800 of interest on a short-term loan incurred in September and repaid in November. Half of the loan proceeds was used immediately to pay salaries and the other half was invested in municipal bonds until November. c) $600 for office supplies in May of this year. He used half of the supplies this year and he will use the remaining half by February of next year.
Answers
Answer:
A. $500
B. $696
C. $378
Explanation:
Calculation to determine the after-tax cost of each payment
A. Based on the information given the AFTER-TAX COST will be $500 reason been that it is NOT DEDUCTIBLE based on the fact that fines and penalties does not provide a tax break
B. After-tax cost=$800 * [1-(0.5*0.37)]
After-tax cost=$800*(1-0.13)
After-tax cost=$800*0.87
After-tax cost=$696
Therefore After-tax cost is $696 reason been that HALF OF THE INTEREST will NOT be DEDUCTIBLE reason been that it was used to obtain NON-TAXABLE INCOME
C. After-tax cost=$600 * (1 - 0.37)
After-tax cost=$600*0.63
After-tax cost=$378
Therefore the After-tax cost is $378
Which of the following statements is FALSE? A. Preferred stock cannot be converted into common stock. B. Preferred stock usually has a stated or par value but unlike bonds, this par value is not repaid at maturity because preferred stocks do not have a maturity date. C. The only time the par value of preferred stock would be paid to the shareholder is if the company ceases operations or retires the preferred stock. D. Skipped preferred dividends become a liability of the company.
Answers
Answer:
c
Explanation:
Economics
A baker bought flour and other ingredients for $250.00 and spent $52.00
on distribution, sold the bread for $320.00. The value added is
a) $302.00
b)$52.00
c)$18.00
d) $622.00
Answers
Answer:
I'm pretty sure it's c.
Explanation:
320-250-52=18?
General managers should take an active role in decisions about information systems. This is vital because: e) Information systems are normally incongruent with business strategies. a) The IS department cannot be trusted to make good decisions. b) The IS department has not been trained to make general business decisions. d) Information systems are designed to support business objectives. c) The IS department does not have the company’s best interests as its focus.
Answers
Answer:
d) Information systems are designed to support business objectives.
Explanation:
Information system can be defined as a set of components or computer systems, which is used to collect, store, and process data, as well as dissemination of information, knowledge, and distribution of digital products.
Generally, it is an integral part of human life because individuals, organizations, and institutions rely on information systems in order to perform their duties, functions or tasks and to manage their operations effectively. For example, all organizations make use of information systems for supply chain management, process financial accounts, manage their workforce, and as a marketing channels to reach their customers or potential customers.
Additionally, an information system comprises of five (5) main components;
1. Hardware.
2. Software.
3. Database.
4. Human resources.
5. Telecommunications.
Hence, general managers (GMs) are required by standard to take an active role in decisions concerning information systems (IS). This is quite essential and vital because information systems (IS) are designed to support business objectives and decisions pertaining to an organization.
A plant manager is attempting to determine the production schedule of various products to maximize profit. Assume that a machine hour constraint is binding. If the original amount of machine hours available is 200 minutes, and the range of feasibility is from 130 minutes to 300 minutes, providing two additional machine hours will result in Group of answer choices a different product mix, same total profit as before. the same product mix, different total profit. the same product mix, same total profit. a different product mix, different total profit.
Answers
Answer: a different product mix, different total profit.
Explanation:
It should be noted that in a situation whereby constraint is binding and a change with regards to the availability that is within the range exist, this will bring about a change in both the product mix and total profit.
With regards to the question, since the machine hour constraint is binding and the original amount of machine hours available is 200 minutes, and the range of feasibility is from 130 minutes to 300 minutes, then it should be noted that the provision of two additional machine hours will result in a different product mix, different total profit.
how to calculate for opening bank balance
Answers
Answer:
The opening balance is the amount of money that is available in the bank at the beginning of each financial period, such as the start of each month or each year. It is the amount brought forward and first figure entered in the account at the beginning of each period. When the amount is newly opened, the opening balance is the first amount entered in the account
Therefore, the opening balance is the difference between the closing balance and the deposit less the withdrawals within a period
Closing Balance = The Opening Balance + Total Income - Total Expense
Therefore;
The Opening Balance = Closing Balance - Total Income + Total Expense
Explanation:
How can buisness decision affect the local community??
Answers
Answer:
Small businesses will also participate and volunteer their time at fairs and festivals, working to connect with members of the community while sharing their services to a large audience.Local businesses pay local taxes, bolstering the city revenue available for improvements to roads, schools, and area green spaces. When shoppers spend their money locally, the taxes they pay benefit their community and better their own lives. Shopping online, for example, may not keep tax revenue local.
Exercise equipment manufacturer Heavyweight, Inc. has experienced disappointing financial results due to the costs associated with shipping its products to wholesalers. This is an example of a(n) ______ cost disadvantage. Multiple choice question. forward channel ally supplier-related internal impossible
Answers
Answer:
Forward channel ally
Explanation:
The distribution channel is made up of a network of different players that help in movement a good from the manufacturer to the final consumer.
It is made up of suppliers, middle men, shipping agents, wholesalers, and retailers.
Forward channel ally are the next steps in the distribution channel.
In this instance it is the shipping agent that is supposed to transfer the goods to the wholesalers.
Heavyweight, Inc experiencing disappointing financial results due to the costs associated with shipping its products to wholesalers is a example of forward channel ally cost disadvantage
Which of the following defines the objectives of a project?
A) something that is required or in demand
B) targets and destinations for the project
C) statements of what the project will accomplish
D) all of the activities necessary for the project
Answers
statements of what the project will accomplish
Answer: D. all of the activities necessary for the project
Explanation: boss baby approved
Effective leadership involves all the following, except: a. Managing oneself through personal time management, stress management, and other activities b. Managing team members through motivation, delegation, supervision, and team building c. Maintaining tight control of all project resources and providing information to team members only as needed d. Employing and utilizing project champions where they can benefit the project
Answers
Answer:
c
Explanation:
