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2 years ago

An interesting development that happened in late 2008, relating to the fed and bank reserves, was that the fed?

1 answer:

8 0

An interesting development that happened in late 2008, relating to the fed and bank reserves, was that the fed started paying interest on the bank's reserves.

What did the federal reserve do in 2008?

They bought billions of dollars worth of stocks, mortgage securities, and bonds straight from the U.S. Treasury when the financial crisis hit.

How did the Federal Reserve respond to the financial collapse?

Credit was made more difficult by the Federal Reserve by raising interest rates. People scrambled to withdraw cash from their banks out of panic.

What was one reason the US government started a Federal Reserve system?

It was established by Congress to give the country a more secure, adaptable, and stable financial and monetary system. On December 23, 1913, President Woodrow Wilson signed the Federal Reserve Act into law, thereby establishing the Federal Reserve.

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Artisan Inspiration, Inc. is a merchandiser of stone ornaments. The company sold 6,000 units during the year. The company has pr

Jobisdone [24]

Answer:

Option (A) is correct.

Explanation:

Given that,

Units sold = 6,000 units

Sales = $565,000

Selling and administrative expenses = $67,000

Operating income:

= Sales - Cost of Goods Sold - Selling and administrative expenses

= $565,000 - ($305,000 + $14,000 + $43,000 - $42,000) - $67,000

= $565,000 - $320,000 - $67,000

= $178,000

Therefore, the operating income for the year is $178,000.

5 0

3 years ago

Pam Erickson Construction Company changed from the completed-contract to the percentage-of-completion method of accounting for l

Brilliant_brown [7]

Answer:

a. $478,450

b.Dr Construction in Process $165,500

Cr Deferred tax liability $49,650

Cr Retained earnings $115,850

Explanation:

A. Calculation for the amount of net income that would be reported in 2015 for Pam Erickson Construction Company

Using this formula

Net income =(Income before income tax ) Income before income tax-Tax rate

Let plug in the formula

Net income= $683,500 - (683,500 × 30%)

Net income= $683,500 - $205,050

Net income= $478,450

B. Preparation of the Journal entry(ies) that are necessary to adjust the accounting records

For Pam Erickson Construction Company

Dr Construction in Process $165,500

Cr Deferred tax liability $49,650

($165,500 × 30%)

Cr Retained earnings $115,850

($165,500 × (100%-30%)

5 0

3 years ago

Were Social Security and Medicare the largest contributors of revenue for the federal government in Fiscal Year 2019? Explain.(1

Bingel [31]

It is false because the individual income taxes contributed about $1.718 trillion in Fiscal Year 2019 while Social Security and Medicare taxes only contributed $1.242 trillion.

<h3>What is an Income tax?</h3>

These are tax imposed on earned income by people in a country while the Social Security and Medicare taxes are imposed on people income while working as well.

However, the individual income taxes contributed about $1.718 trillion in Fiscal Year 2019 while Social Security and Medicare taxes only contributed $1.242 trillion.

Therefore, the Option C is correct.

Read more about Income tax

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5 0

2 years ago

Read 2 more answers

In San Francisco there are many restaurants that specialize in a wide variety of cuisines. Patronage at these restaurants is inf

Verdich [7]

In San Francisco, there are many restaurants that specialize in a wide variety of cuisines. Patronage at these restaurants is influenced by factors such as tastes, price, and location. This market is option (b) i.e, monopolistically competitive.

<h3>What is monopolistically competitive?</h3>

An industry with a lot of companies offering similar (but not identical) replacement goods or services is known as one with monopolistic competition. In a monopolistic competitive industry, there are few barriers to entry and exit, and no firm's decisions directly affect those of its rivals.

Monopolistic competition is characterized by a number of features.

slight variations in the goods and services,
Free access to the market and exit
many businesses
Profits from incomplete consumer knowledge

Consumer electronics, apparel, restaurants, and hair salons are a few examples of industries with monopolistic competition. Each business delivers goods that are comparable to those of other businesses in the same sector. They can, however, set themselves out through branding and marketing.

To know more about monopolistic competition refer to: brainly.com/question/13686157

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6 0

2 years ago

Budgeting is much more difficult for an established business than it is for a new business.

dimulka [17.4K]

Answer: Your answer is true! C:

5 0

2 years ago