Zero-balance account Union Company is considering establishment of a zero-balance account. The firm currently maintains an average balance of $420,000 in its disbursement account. As compensation to the bank for maintaining the zero-balance account, the firm will have to pay a monthly fee of$1,000 and maintain a $300,000 non–interest-earning deposit in the bank. The firm currently has no other deposits in the bank. Evaluate the proposed zero-balance account, and make a recommendation to the firm, assuming that it has a 12% opportunity cost.

Justin earned $25.67 one week and$37.85 the next week. He also purchased a DVD for $19.99 and gas for his car for$22.07. He started with a zero balance in his checking account. Justin recorded all of these transactions in his checkbook and ended up with a balance of $ 105.58. Was his balance correct? If it was, write an equation to support the answer. If not, find the correct balance.

Illustrate the given equation, $45=x+18$, with a balance-scale model. The number $45$ is on the left side of the balance scale. The unknown number is on the right side of the balance scale added to $18$.

Select the operation that will isolate the variable, and write that operation on your paper.

An investor deposits $\$10,000$ in an account that earns $3.5\%$ interest compounded quarterly. The balance in the account after $n$ quarters is given by

$$An=10000(1+0.035/4)^n, n=1, 2, 3, . . .$$

Is the balance after $20$ years twice the balance after $10$ years? Explain.

As of January 1, Brenda Cikan, Capital, had a credit balance of $125,000. During the year, withdrawals totaled$7,000, and the business incurred a net loss of $130,000.

b. Assuming that there have been no recording errors, will the balance sheet prepared at December 31 balance? Explain.

a. What is the purpose of the post-closing trial balance? b. Why does the post-closing trial balance have balances of only permanent accounts?

As of January 1, Retained Earnings had a credit balance of $314,000. During the year, dividends totaled$10,000, and the business incurred a net loss of $320,000.

b. Assuming that there have been no recording errors, will the balance sheet prepared at December 31 balance? Explain

If the Bonds Payable account has a balance of $700,000 and the Discount on Bonds Payable account has a balance of$36,000, what is the carrying value of the bonds?

Find the monthly payment and estimate the remaining balance (to the nearest dollar). Assume interest is on the unpaid balance. The interest rates are from national averages from www.bankrate.com in April 2013.

Fifteen-year mortgage for $195,000 at 2.78%; remaining balance after 4.5 years

Find the balance in the account.

You deposit $520 in an account with 4% interest compounded monthly. What is the balance in the account after 5 years?

The City of Bagranoff holds $90,000 in cash that will be applied to make a bond payment when the debt comes due early next year. The assistant treasurer initially made the decision to set this money aside for this purpose. Just before the end of the current year, the city council formally approved using the money in this way. The city council is the highest level of decision-making authority for this government. What impact does the council’s action have on the reporting of fund financial statements?
a. Fund balance—unassigned goes down and fund balance—restricted goes up.
b. Fund balance—assigned goes down and fund balance—committed goes up.
c. Fund balance—unassigned goes down and fund balance—assigned goes up.
d. Fund balance—assigned goes down and fund balance—restricted goes up.

Refer to the T-accounts in the previous exercise. Compute ending balances and prepare Belle Company's balance sheet. Assume the balance sheet is dated December 31, 2010. (Hint: The December 31, 2010, D. Belle, Capital account balance is $29.280.)

As of January 1, Terrace Waters, Capital, had a credit balance of $314,000. During the year, withdrawals totaled$10,000, and the business incurred a net loss of $320,000.

b. Assuming that there have been no recording errors, will the balance sheet prepared at December 31 balance? Explain.

John has a balance of $3000 on his Discover card that charges 1% interest per month on any unpaid balance. John can afford to pay$100 toward the balance each month. His balance each month after making a $100 payment is given by the recursively defined sequence$B_{0}=$3000, \quad B_{n}=1.01 B_{n-1}-100$. Using a graphing utility, determine when John will pay off the balance. What is the total of all the payments?