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earnstyle [38]
2 years ago
7

Required reserves of banks are a fixed percentage of their.

Business
1 answer:
mylen [45]2 years ago
5 0

Required reserves of banks are a fixed percentage of their fixed deposits.

<h3>What are required reserves?</h3>

Required reserves is the percentage of deposits required of banks to keep as reserves by the central bank. Required reserves are used to control the amount of loans a bank can give out. This in turn affects the money supply in the economy.

Reserves are also needed to meet unforeseen circumstances.

To learn more about required reserves, please check: brainly.com/question/12417681

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Last year, loana's revenues totaled $121,000. This year, she anticipates a 20% increase. However, her
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$23,950 MORE due to 25% of 97,000 added on which is 121,250, and then add 20% of 121,000 onto that and subtract 121,250 off your new total to get $23,950.

4 0
2 years ago
Percy is a rich boy whose parents supply him with every conceivable necessity of life. While still a minor, Percy buys a coat on
cricket20 [7]

Answer:

The answer is: Percy can disaffirm the contract, and he must return the coat.

Explanation:

Minors (people under 18 years of age) are not allowed to participate in any kind of contract except for essential items like medicine or food. In order for a contract to be enforceable, Percy's parents must give prior consent.

So Percy can choose to either continue with the contract or void it, but if he decides to void the contract he must return the coat he bought.

6 0
3 years ago
Read 2 more answers
Delicious Catering completed the following selected transactions during May 2016: May 1: Prepaid rent for three months, $1,500 M
Afina-wow [57]

Question Completion:

If Delicious Catering had recorded transactions using the Accrual method, how much net income (loss) would they have recorded for the month of May? If there is a loss, enter it with parentheses or a negative sign.

Answer:

Delicious Catering

Using the Accrual method, Delicious Catering would have recorded for the month a net income of $1,670.

Explanation:

Data and Calculations:

Prepaid Rent for 3 months = $1,500

Rent expense for the month = $500 ($1,500/3)

Utilities expense = $190

Service Revenue:

Cash for meals = $2,400

Credit                    2,000

Total                    $4,400

Salary Expense = !,700

Depreciation expense = $340

Kitchen Equipment = $2,500

Income Statement for the month of May:

Service Revenue                 $4,400

Expenses:

Rent                            $500

Utilities expense           190

Salary expense          1,700

Depreciation expense 340

Total expenses                   $2,730

Net Income                        $1,670

8 0
3 years ago
All of the following are methods of bringing your business to the attention of prospective clients. Once your child care busines
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C word by mouth......
7 0
3 years ago
Dallas Company uses a job order costing system. The company's executives estimated that direct labor would be $3,750,000 (250,00
Zepler [3.9K]

Answer:

Allocated overhead= $1,430,600

Explanation:

Giving the following information:

The company's executives estimated that direct labor would be $3,750,000 (250,000 hours at $15/hour) and that factory overhead would be $1,550,000 for the current period.

The records show that there had been 230,000 hours of direct labor.

Using direct labor hours as a base.

Predetermined overhead rate= total estimated manfacturing overhead for the period/ total amount of allocation base

Predetermined overhead rate= 1555000/250000= $6.22 per hour

Allocated overhead= Predetermined overhead rate*actual hours= 6.22* 230000= $1,430,600

7 0
3 years ago
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