Answer: $50000
Explanation:
Based on the information that's been given in the question, firstly we need to calculate the excess reserves which will be:
= $4500 - (10% × $40000)
= $4500 - $4000
= $500
Then, the money supply that's expanded will be:
= Excess reserve / Reserve ratio
= $5000 / 10%
= $5000 / 0.1
= $50000
Therefore, the answer is $50,000.
Answer:
c. classes, series.
Explanation:
Corporate stock refers to the shares issued to the shareholders through which the company gets its funds for the business.
These shares are of two classes mainly:
Equity and Preference
These are further divided into series like:
Equity = Fully paid, 50% paid
Preference = 5% Preference or 10% preference capital or any other rate.
Further it includes, the reserve and surplus also.
Amount of bad debts adjusting entry = 0.7% * 945,000 = 0.7/100 * 9450,000 = $6,615
The amount of the bad debts expense adjusting entry = $6,615
Answer:
The answer is: The cost of the land is $457,200
Explanation:
To determine the total cost of the land acquired by the Blossom Clinic, we must add the purchase price, unpaid property taxes and legal fees.
Cost of the land = $450,000 + $4,000 + $3,200 = $457,200
Land grading is not included since it is a type of land improvement.
Answer:
Asset Misappropriation.
Explanation:
The type of fraud that Jake Rosen engaged in is called Asset Misappropriation.
Asset Misappropriation happens when a person diverts the assets of the company they work for or the client they represent, for their own personal use.
Jake Rosen diverted the funds of the hospital for his own personal use to enabled the purchase of two homes and a nice yacht amongst other things thereby making him guilty of asset misappropriation.
