Answer:
c. I , III, and IV
Explanation:
M1 and M2 are amongst the ways of measuring money supply of an economy.
M1 basically includes physical currency and coins, demand deposits, traveler's checks, and other checkable deposits.
M2 is regarded as a broader classification than M1 since it includes assets that are highly liquid but are not cash.
M2 includes M1 plus savings deposits, money market deposits, certificate of deposits less than $100,000 and money market mutual fund balances which can be readily redeemed.
Unlike the types of financial assets defined as money that are included in money supply, credit card transactions create loans that the borrower must pay later and hence are excluded from M2.
Hence M2 will include $5,000 certificate of deposits, $ 1000 in traveler's checks and $ 500 in piggy bank i.e option (c)
Answer:
Soundgarden Company
Journal Entries:
July 10, 2020:
Debit Cash Account (or Accounts Receivable) $800,000
Credit Sales Revenue $800,000
To record the sale of 200 copiers at $4,000 apiece.
July 10, 2020:
Debit Warranty Expense $66,000
Credit Warranty Liability $66,000
To record the estimated warranty maintenance on copiers sold.
December 31:
Debit Warranty Liability $17,000
Credit Inventory $17,000
To record actual warranty costs incurred.
Explanation:
Soundgarden should record these transactions according to the matching principle, whereby warranty expense is recognized in the period that matches the sale so that all expenses related to sales are recognized when the sales are recognized. This is achieved by creating a warranty liability account after the sales and recording a warranty expense as the debit entry. When actual warranty costs are incurred, the Soundgarden Company will debit the warranty liability and credit the inventory actual for the actual costs.
Answer:
$1,248
Explanation:
The current premiums are $975, which is equivalent to 100%. The new premium will increase by 28%.
New premiums will be $975% plus 28%, which is equal to 128% of $975
= $975 x 128/100
=$975 x 1.28
=$1,248
Answer:
Yes
Explanation:
An opinion can indeed be wrong unless you based if of scientific facts and have evidence to back up your opinion. Everyone is indeed entitled to an opinion but not everyone listens to everyone’s opinion that is not backed up with facts.
