true or false: 21) The indivisible reserve of savings and credit cooperatives is NOT covered by COSSEC insurance. 31) COSSEC's insurance coverage for cooperative depositors is lower than the FDIC's for bank depositors.
Q: A Corporation owns 20% of C Corporation. C has current earnings and profits of $40,000. C…
A: Tax consequences means tax determination of the members who are managing shall engaged or…
Q: that she is 67 years old, how much of the annuity will be taxable?
A: The taxable portion out from the annuity which has been received is the portion which is in excess…
Q: On January 1, 2020, Dopey Enterprises, Inc. developed a new machine that reduces the time required…
A: On January 1, 2020 Dopey Enterprises, Inc. developed a new machine that reduces the time required to…
Q: Sweet Charity Company manufactures candy bars for fundraising initiatives for children's nonprofits.…
A: Formula used: Margin of safety in dollars = Actual sales value - Break even sales value.
Q: A. ALENBONG Company produces line of different products which comes from the COMMON INPUT in a joint…
A: The Incremental Sales revenue should be compared with Additional processing cost. If incremental…
Q: 2 of 3 Excitingpart's Closet Statement of Financial Position As of Nov. 30, 2015 Dec. 31, 2014…
A: Note: Hi! Thank you for the question, As per the honor code, we are allowed to answer three…
Q: On June 30, 2021, ABC Company acquired 50,000 representing 25% ownership interest in Arthur…
A: Investment is the asset or security bought to earn returns from the same in future.
Q: The entry to record the payment of net payroll would include a
A: salaries and wages payable = salaries- deductions = 90000-6885-19800-3600 = 59715
Q: Peter's Records purchases a new Record-Pressing Machine for $77,000, on the 1st January 2020 The…
A: Depreciation means the amount of expenses written off from the value of fixed assets used in…
Q: 6. The annual premium on an insurance policy is $1, 200. First, find the premium per period if…
A: Insurance is an agreement or arrangement between two parties where one party agrees to pay the…
Q: Fast Trak Company, a domestic common carrier engaged in the transport of goods rovided the following…
A: 1. Non - VAT registered entity business tax = 1% of gross receipts = 1% x P2400000 = P 24000
Q: Required: 1. Determine the amounts necessary to record income taxes for 2021, and prepare the…
A: Journal entries refers to the official book of a firm/company which is used to record the day to day…
Q: Project ABCD has a 10% cost of capital and the following cash flows: Year Cash Flow -300 1 100 150…
A:
Q: On June 30, 2015, Gell-O Corp paid USD48 per share for 50,000 shares, representing a 25% ownership…
A: Since Gell-O Corp acquired 25%, ownership interest in Migs Company, it will be treated as investment…
Q: d. 33 percent 7. Comparing the amount of a balance sheet item in one year to the amount for the same…
A: An item on the balance sheet is compared to the same item in a prior year in a horizontal analysis.…
Q: Each Tuesday, Ryan Airlines reduces its one-way ticket from Fort Wayne to Chicago from $136 to $25.…
A: Discount is the amount which is offered by the selller to the buyer to increase revenue. It is…
Q: Company 2019 Gross $4,250,000 Revenue Company 2019 Gross $1,6,000 Profit Annual Retention Rate 58%…
A: Based on the data given we need to calculate the average life time value of a customer. Firstly let…
Q: %24 %24 3. Create Adjusting Journal Entry. a. Select Create (+) icon > Journal Entry b. Enter the…
A: Unearned Revenue: Unearned revenue is money received by a person or firm for a service or product…
Q: Spreadsheet exercise A bowling alley costs P500,000 and has a useful life of 10 years. Its…
A: Depreciation indicates the reduction in the hysterical cost of the tangible asset of the…
Q: How much should be the correct debit to retained earnings for the property dividends?
A: Retained earnings are those earnings which has been earned by the company which represents the net…
Q: a CFE was hired by B Industrial to investigate suspected fraud. the CFE started analyzing the…
A: Formulas: Current ratio = Current assets / Current liabilities Quick ratio = Quick assets / Current…
Q: How is the average unit cost (of sold products) calculated at the end of a period, for a retailer?…
A: Average unit cost can be calculated by dividing the total cost of goods sold by the total number of…
Q: Company XYZ ha
A: The total cost of production of a good comprises of the total fixed cost of production and the total…
Q: Krist Company provided the following data for the month of January: Balance per book, January 31…
A: Bank reconciliation: It is a statement drawn up by the business to verify the cash book balance with…
Q: The effect of the plant expansion on Salter's net working capital will be a(n) [Answer should be in…
A: Net working capital is the capital which is required by the company in order to run the business…
Q: Which of the following statements is most correct? Group of answer choices A debenture is a secured…
A: Debenture are long term debt instrument issued by the company to raise funds. The explanation is…
Q: If the number of units produced decreases, which of the following is true? answer choices…
A: Lets understand the basics. Variable costs are cost which changes with level of output. For ex.…
Q: Determine the net income of a company for which of the following information is available for the…
A: Introduction: Income statement: All revenues and expenses are to be shown in income statement. It…
Q: Adjusting entries are: a. prepared on December 31, except for companies that use the calendar period…
A: Entries in the books of accounts can be of three types; Journal entries - recorded at the start of…
Q: On January 1, 2020, ABC Company enters into a 4-year lease of office equipment. The rent in 2020 is…
A: As per IFRS 16, practical expedient is used when the measurement of Right of use of the asset on…
Q: Adam Smith has taxable income of $37,500 for the current year His federal tax rate is 15%, while the…
A: Federal and provincial tax rates are two different types of tax rates under law. The combination of…
Q: ______________Tax is the most progressive tax structure in Canada Value added. Sales
A: Disclaimer: "As you have asked multiple questions in this question so we have answered only the…
Q: What is the meaning of “person” when the term is used in the Income Tax Act? _________, __________…
A: Person includes : an Individual; a Hindu Undivided Family (HUF) ; a Company; a Firm an association…
Q: Account Account Debit Credit no. title 101 cash 83,400 accounts receivable Prepaid Advertising…
A: The post closing trial balance is prepared after closing the temporary accounts of the business. The…
Q: Problem 3 The October 1, 2019, ABC Corp. enters a contract to build a sports arena which it…
A: The gross profit or loss is calculated as difference between revenue and expenses incurred during…
Q: Portsmouth Company makes upholstered furniture. Its only variable cost is direct materials. The…
A: 1. Determination of overtime premium company would be willing to pay to keep the upholstery shop…
Q: the shareholders’ equity section of Pampanga Corporation’s statement of financial position as of…
A: The amount of retained earnings is that portion of the company's equity that can be utilized for the…
Q: Notification to the COA for any loss of government funds from unforeseen events shall be made within…
A: The COA stands for Council of Audit. It is a very important council for accounts, finance, and…
Q: Yellow Company acquired a trademark for P10,000,000 from Orange Company on January 5, 2021. The…
A: The intangible assets are used in the business to generate revenues and these assets have a life of…
Q: 4. Fly Away Air Lines (a resident international carrier) has the following data for the current…
A: International – Carrier. — An international carrier doing business in the Philippines shall pay a…
Q: On January 1, 2022, Villanueva Company classified noncurrent assets as held for sale that had a…
A: Noncurrent assets are long-term investments that will not be fully recognized within the fiscal…
Q: 7. Vegetables are stored in coolers at the proper temperatures. 8. Cash receipts are deposited…
A: Preventative controls are designed to be implemented prior to a threat event and reduce and/or avoid…
Q: Problem on Longterm Construction On January 1, 2018, Builders Enterprises obtained a contract to…
A: calculation of above requirement are as follows
Q: 6. The annual premium on an insurance policy is $1, 200. First, find the premium per period if…
A: Insurance is an arrangement whereby one party provides guarantee to pay the loss incurred due to the…
Q: Task 2: Journalizing using Periodic Inventory System Direction: 1. Prepare journal entries to…
A:
Q: Explain the below income Statement.
A: Introduction:- Income statement provide summary of all revenues and expenses. It provides true…
Q: Background Consider the following information for the company Freddie's Furniture Supplies, who…
A: Cost of goods manufactured = Cost of goods sold + Ending finished goods - Beginning finished goods…
Q: Nincada Inc Inc has provided the following data for the month of March. There were no beginning…
A: Over-applied overhead means the actual expenses incurred are less than the budgeted expenses. The…
Q: Question: What are the tax consequences to A and to B as a result of these transactions? Be sure to…
A:
Q: For each of the transaction below, identify in which journal the transaction will be recorded:…
A: The posting Process shows transferring the transactions recorded in the books of original entry in…
Step by step
Solved in 3 steps
- What bank regulations are designed to reduce moral hazard problems created by deposit insurance? Willthey eliminate the moral hazard problem?What bank regulation is designed to reduce adverse selection problems for deposit insurance? Will it always work?What If the Facts Were Different? Suppose that West Bank’s Deposit Account Agreement had not included “an obligation to Depositor to exercise good faith and ordinary care in connection with each account.” How might the result have been different?
- Moral hazard caused by Deposit Insurance Schemes refers to: Question 2Answer a. The placing of funds from immoral activities into the banking system. b. The loss exposure faced by an insurer when the provision of insurance encourages the insured to take less risks. c. The loss exposure faced by an insurer when the provision of insurance encourages the insured to take more risks. d. The excess profits earned by banks from insured deposits.The purpose of a negative pledge on the borrower's assets in an unsecured bank loan agreement is to5. Which of the following will make Murabaha invalid? a. If payment is made in installments b. if the supplier is not paid directly by the bank. c. Price not agreed. d. Price not fully paid.
- What concerns are there regarding the Paycheck Protecting Program and the Main Street Lending Program? What are the limitations and likely outcomes?Why can’t bank lend without a written loan policy? Explain in detail. No plagiarism.Which of the following statements is not correct?(1) Bank charges are not zero-rated item.(2) Input VAT is claimable on bank charges.(3) Bank charges are not exempt supply.(4) Input VAT is not claimable on bank charges.(5) Finance costs are exempt supply.
- True our False? 6. Under the mudarabah account, the depositors will always be guaranteed to get back their deposits. 7. Current, saving and investment accounts are designed to fulfil the motives of holding money. 8. The difference between hibah and interest (riba) is the former is determined ex-ante and the latter is ex-post. 9. Statutory reserve requirement is part of regulatory costs for Islamic deposit. 10. Islamic bank can offer the sale of foreign currency through murabahah financing.Which of the following does not relate to credit risks? a. Credit risk is the possibility of losing a lender takes on due to the possibility of a borrower not paying back a loan b. It refers to the risk that a lender may not receive the owed principal and interest c. Credit risk also describes the risk that an insurance company will be able to pay a claim. d. Credit risk is the possibility of a loss resulting from a borrower's failure to repay a loan or meet contractual obligations e. Credit risk describes the risk that a bond issuer may fail to make payment when requestedQuestion 6 Explain: the deposit insurance, provided by the government, reduces the incentive for depositors to monitor the bank.