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2 years ago

Which of the following is not considered a credit..

Business

2 answers:

dalvyx [7]2 years ago

5 0

Which of the following is not considered a credit?

C. Overdraft fee

An overdraft fee is not considered a credit because it is not money coming into your account, it is money leaving your account. When you spend more money than you have in your account, you are charged an overdraft fee for overdrafting your account. Transfer into your account, direct deposit and interest earned are all ways to add money into your bank account.

Alexus [3.1K]2 years ago

4 0

Answer:

The correct answer is letter "C": overdraft fee.

Explanation:

A financial institution charges an overdraft fee when the balance of an account does not have enough funds to make a payment but it does go through. Usually, banks give account holders the freedom to choose if having or not this feature in their accounts since, as the fee is charged every time a transaction goes through when the account has a negative balance, it can lead customers to have potential debts.

In that case, an overdraft fee is not a credit in an account. As a charge, it represents a debit.

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On January 1, 2018, Splash City issues $500,000 of 9% bonds, due in 20 years, with interest payable semiannually on June 30 and

Aleonysh [2.5K]

Answer:

Date Interest Interest Amortization Bond's

payment expense bond discount book value

Jan. 1, 2018 457,102

June 30, 2018 22,500 23,572.45 1,072.45 458,174.45

Dec. 31, 2018 22,500 23,572.45 1,072.45 459,246.90

Assuming you are using a straight line amortization of bond discount, then the amortization per coupon payment = $42,898 / 40 = $1,072.45

January 1, 2018, bonds are issued

Dr Cash 457,102

Dr Discount on bonds payable 42,898

Cr Bonds payable 500,000

June 30, 2021, first coupon payment

Dr Interest expense 23,572.45

Cr Cash 22,500

Cr Discount on bonds payable 1,072.45

December 31, 2021, second coupon payment

Dr Interest expense 23,572.45

Cr Cash 22,500

Cr Discount on bonds payable 1,072.45

If the company uses the effective interest method, the numbers vary a little:

amortization of bond discount on first coupon payment:

($457,102 x 5%) - ($500,000 x 4.5%) = $22,855.10 - $22,500 = $355.10

Journal entry to record first coupon payment:

Dr Interest expense 22,855.10

Cr Cash 22,500

Cr Discount on bonds payable 355.10

amortization of bond discount on second coupon payment:

($458,174.45 x 5%) - ($400,000 x 4.5%) = $22,908.72 - $22,500 = $408.72

Journal entry to record second coupon payment:

Dr Interest expense 22,908.72

Cr Cash 22,500

Cr Discount on bonds payable 408.72

7 0

2 years ago

A customer at Jaquine, a French restaurant, complains to Brent, the owner, about a specialty dessert being unacceptable. Brent i

Alex Ar [27]

Answer:

B. a task analysis

Explanation:

A task analysis is a detailed analysis to define a set of steps that needed to be taken in order to reach a certain goal. In business , task analysis is conducted by observing the actions of the employees and form a measurement to ensure that the employees is making a desired improvement.

In the example above, Brent's goal is to ensure that Mason will never repeat his mistake in using bad ingredients ever again.

After he defined the goal, he analyze the situation and create a steps that needed to be taken to achieve the goal. That 'step' is putting Mason in an additional training

3 0

2 years ago

Z-Mart purchased $3,000 worth of merchandise on credit. Transportation costs were an additional $100, paid cash to the cartage c

Len [333]

Answer:

Z-Mart purchased $3,000 worth of merchandise on credit. Transportation costs were an additional $100, paid cash to the cartage company on delivery. Z-Mart returned $300 worth of merchandise and paid the invoice on time, and took a 2% purchase discount. The amount of this payment was <u>$2744</u>

Explanation:

Purchases excluding freight $3,000

Less:Goods returned -$300

Add:freight charges $100

Net Purchases $2,800

Less:Discount on payment($2,800*2%) -$56

Net cash paid $2,844

6 0

2 years ago

A review of the accounting records of Baird Manufacturing indicated that the company incurred the following payroll costs during

ankoles [38]

Answer:

a. $363,000

b. $827,200

Explanation:

The computations are shown below:

a. Payroll cost would be

= Salary of the company president + Salary of the chief financial officer + Salary of the vice president of marketing + Salaries of administrative secretaries + Commissions paid to sales staff

= $75,000 + $42,000 + $40,000 + $60,000 + $146,000

= $363,000

And, for computing payroll cost first we have to determine the total cost which is shown below:

= Salary of the vice president of manufacturing + Salaries of middle managers (department heads, production supervisors) in manufacturing plant + Wages of production workers + Salaries of engineers and other personnel responsible for maintaining production equipment

= $50,000 + $147,000 + $703,500 + $133,500

= $1,034,000

Now the cost of goods sold would be

= Total cost × sales units ÷ number of units produced

= $1,034,000 × 4,000 units ÷ 5,000

units

= $827,200

3 0

2 years ago

Leading coatings and paints manufacturer Akzo Nobel established a team made up of members from various departments to increase p

lakkis [162]

Answer:

a. affective

Explanation:

When a disagreement arises because of negative emotions among the intra-group team members, an affective conflict occurs. A cross-functional team has different members from various departments. Therefore, team members can expect a negative perspective among themselves. If it happens, affective conflict arises in the cross-functional team.

Therefore, option A is the correct answer.

5 0

2 years ago