Assignment 3: Banking (16.0 points) 1. Visit the website of a large national bank, regional bank, or credit union, and use the information you find there to answer the questions below. EXAMPLE: Some large banks you might consider include Bank of America®, JPMorgan Chase®, Wells Fargo®, Citibank®, and U.S. Bank®. a. What is the name of the bank or credit union?
Give at least two examples of types of state taxes. (1.0 points) Social Security taxes and Federal Insurance Contributions Act (FICA) tax. 5. What is a pay stub? (0.5 points) Each time a company pays you, you'll receive a short summary of the amount of your gross pay, and the amount of payroll withholding for that pay period Lesson 3 (3.0 points) 1.
Included with the statement was a credit memorandum of $185 indicating the collection of a note receivable for Fetter Company by the bank on October 25. This memorandum has not been recorded by Fetter. The company’s ledger showed one Cash account with a balance of $21,877.72. The balance included undeposited cash on hand. Because of the lack of internal controls, Allan took for personal use all of the undeposited receipts in excess of $3,795.51.
(0.5 points) no d. How many creditors have made inquiries about Jessie Robinson's credit? (0.5 points) 3 e. Do you think Jessie Robinson usually pays bills on time and in full? (1-2 sentences. 1.0 points) Yes from the papers im seeing Jessie did pay his bills on time and in full. f. Do you think Jessie Robinson's credit score would be great, normal, or poor?
C. accounting profits produced. D. increase in total sales produced. 3. Assume your firm has an unused machine that originally cost $75,000, has a book value of $20,000, and is currently worth $25,000. Ignoring taxes, the correct opportunity cost for this machine in capital budgeting decisions is: A.
From the 1930s to the 1970s, savings and loan companies (S&Ls) in the United States had a simple, protected, and profitable business. The Federal Home Loan Bank (FHLB) encouraged the S&Ls to specialize in mortgage lending by restricting each institution’s proportion of nonmortgage loan assets to 20 percent of total loan assets. The Federal Savings and Loan Insurance Corporation (FSLIC) insured their deposits. Retail deposits were their major source of funds, so they effectively funded massive maturity mismatches. They took short-term deposits and lent long-term (in 25-year mortgages) at fixed rates of interest.
(0.5 points) A: $543 c. Has Jessie Robinson ever applied for bankruptcy? (0.5 points) A: He has never applied for bankruptcy. d. How many creditors have made inquiries about Jessie Robinson's credit? (0.5 points) A: THREE. e. Do you think Jessie Robinson usually pays bills on time and in full?
That is already about 78% of your total income already. If you were smart and took public transportation instead of buying for a car and paying gas for it, you’d save about $230.00. If you take the train or bus, you’ll only pay $70.00 monthly. Each ride is only $2.00 and you can get a Charlie Card. Opposed to a car, monthly cost of gas is about $200.00 per month, filling up an average of four times a month.
Assignment 1.1 – Business type and ownership The two contrasting businesses I have chosen: * NatWest - Building society bank [National Company with slight international affairs] NatWest NatWest also known as National Westminster Bank is the largest retail and commercial bank in the UK. It is a business which supplies monies to the public in terms of borrowing, it also allows clients to store their own money in a safe bank account. Additionally NatWest also allows business accounts to be created for any big or small businesses. In 2008 NatWest suffered a £20 billion bail-out by the public which made taxpayers have an 84% shareholding in the bank. Type of Business NatWest is classified as a Plc (Public limited Company) because: * It is a bank building society which specialises in property mortgages and public loans * The shares of the bank is freely sold to the public hence why it is on the stock exchange * The business uses taxpayers money to be bailed out hence why it is a publicly owned bank Although it is a public bank, it is also a profit making business.
Traditionally, the company had kept its cash balances at St. Louis National Bank. Request The request is for the renewal of its term debt of $1 million, which originated in the end of December 1978 and would due in the end of September 1979. In additional to the extension of this loan, Hampton also requested another $350,000 to finance equipment purchases. This loan would be needed by the end of October and payable at the end of the year with monthly interest of 1.5% of principal. Cash Analysis Based on the information provided by Mr. Cowins, an analysis of cash funding and usage that Hampton had from November 1978 to August 1979 is below: Change in Cash Funding Usage Increase in bank debt $1,000,000 Stock repurchase $3,000 Increase in retained earnings $883,000 Increase in inventories 2,163 Decrease in cash $961,000 Decrease in accruals 9 Increase in customer advances $726,000 TOTAL USES OF CASH $5,172 Increase in accounts payable $600,000 Decrease in accounts receivable $561,000 Increase in taxes payable $329,000 Decrease in net fixed assets $92,000 Decrease in prepaid expenses $20,000 Total Cash Funding $5,172,000 According the analysis above, there is a large amount of cash disburses to inventories that drain out the cash on hand that Hampton has.