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2 years ago

In a commercial bank's t-account, reserves and outstanding loans are recorded as?

Business

1 answer:

Vsevolod [243]2 years ago

3 0

In a commercial bank's t-account, reserves and outstanding loans are recorded as assets.

In economic accounting, "reserve" usually has a credit balance and may talk over with part of shareholders' fairness, a liability for envisioned claims, or contra-asset for uncollectible debts. A reserve can seem in any part of shareholders' fairness besides for contributed or simple proportion capital.

Reserves are a part of income or gain that has been allotted for a selected reason. Reserves are usually installed to shop for fixed property, pay bonuses, pay an anticipated prison settlement, pay for upkeep & protection and pay off debt.

Reserves – additionally called retained income – are portions of a commercial enterprise's profits that have been set aside to strengthen the enterprise's economic function.

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Answer:

The correct answer is letter "D": secondary.

Explanation:

Secondary data is the information gathered by other individuals or organizations and is used as a reference in studies or researches. This type of data is typically easy and cheap to obtain because does not imply establishing a team to collect the information needed and can be found in accessible places such as libraries or even on the internet.

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4 years ago

Which strategy are you using when you only read the title, section headings, and captions? A. guessing from context B. paraphras

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The strategy would be C. previewing

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3 years ago

Read 2 more answers

At the beginning of a recent year, JetBlue's assets were $6,549 million and its equity was $1,546 million. During the year, asse

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Answer:

Thus, the JetBlue's equity at the end of the year is $1,654 million

Explanation:

In this case, the accounting equation is used.

Accounting equation means the equation which shows double accounting entry system. Double accounting means debit side and credit side. In this accounting equation, the total assets is equal to total liabilities + total equity.

Total Assets = Total Liabilities + Total Equity

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In the question the assets is increased by $44 million whereas liabilities is decreased by $64 million.

So,

Updated asset value = $6,549+$44

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Updated liabilities value = $5,003 - $64

= $4,939 million

So, the ending equity value will be

= Ending assets - Ending liabilities

= $6,593 million - $4,939 million

= $1,654 million

Thus, the JetBlue's equity at the end of the year is $1,654 million

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3 years ago

Octavio wants to compare the gross national product for six different countries for the year 2016. the best way for him to displ

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If Octavio wants to compare the gross national product for six different countries for the year 2016, he can best show his information by combination charts. For example, you can combine a line chart or a bar chart that shows the gross national product (GNP) range with a column chart that shows GNP per country. The two variables are set as Y and X axis respectively.

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3 years ago

Exercise 4-11 Computing net sales for multiple-step income statement LO P4 A company reports the following sales-related informa

dezoksy [38]

Answer:

Net sales revenue= 220,100

Explanation:

Giving the following information:

Sales, gross $ 245,000

Sales returns and allowances $ 20,000

Sales discounts 4,900

Sales salaries expense 10,900

Sales salaries expense is not a part of the net sales in a multiple-step income statement. The net sales are as follow:

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Sales discounts= (4,900)

Net sales revenue= 220,100

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