Answer:
Total cash collection May= $306,000
Explanation:
Giving the following information:
Sales:
April= $250,000
May= $320,000
June= $410,0000
The company expects to sell 50% of its merchandise for cash. Of sales on account, 60% are expected to be collected in the month of the sale, 40% in the month following the sale.
<u>Cash collection May:</u>
Sales on cash May= 320,000*0.5= 160,000
Sales on Account May= (160,000*0.6)= 96,000
Sales on Account April= (250,000*0.5)*0.4= 50,000
Total cash collection May= $306,000
A customer comes into its local bank branch and tries to withdraw a large amount. the bank tells him that it has ""insufficient resources"" to comply with his request at the time. this is an example of <u>Federal Law.</u>
<u></u>
FDIC Law, Regulations, Related Acts is a collection of laws, rules, declarations of policy, and other legal documents pertaining to banking. It contains the FDIC Act, FDIC rules.
FDIC statements of policy, and other relevant laws and rules pertaining to banking. Not all legislation and rules pertaining to insured depository institutions are intended to be presented in this document.
To learn more about FDIC Law here
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Yes because most likely if the existing company is not already global then it probably does not have a very big name so you will have t restart in trying t get another audience and advertise your business to them. Sorry if this isnt right.
Answer:
Answer: Annual Profit for Bank = $1000000
if all interest rates were to rise by 1 percent? there shall be no effect on Profits.
Explanation:
The bank faces the risk that the short-term interest rate will increase (Rise) before the second year, this will increase the amount of interest the bank has to pay on the CD but there will be no changes in the interest income that the bank receives from the Treasury.
2.
Annual income of bank = Annual interest on Treasury note = $50000000 * 4% = $2000000
Annual expense of bank = Annual interest on CD= $50000000 * 2% = $1000000
Annual Profit for Bank = $2000000 - $1000000 = $1000000
3. If all interest rate rises by 1% then:
Annual income of bank = Annual interest on Treasury note = $50000000 * 5% = $2500000
Annual expense of bank = Annual interest on CD= $50000000 * 3% = $1500000
Annual Profit for Bank = $2500000 - $1500000 = $1000000
Hence, there shall be no effect on Profits.
