Answer: $40,000
Explanation:
The maximum amount of additional money that Carland National Bank can create will be calculated as the difference between the total reserve and the excess reserve. This will be:
= Total reserve – required reserve
where,
Total reserve = $60,000
Required reserve = 200000 × 10%
= 200,000 × 0.1
= $20,000
Therefore,
Excess reserve = $60000 - $20000
Excess reserve = $40000
Answer:
The entry to record the transfer of materials from the storeroom is
Debit Work in process $ 36,000
Debit Factory overhead control $ 6,000
Credit Material Account $ 42,000
The material is accounted in material stock account when purchase. Latter if material is used directly it is taken in work in process account. Indirect material is accounted in FOH account.
None because you can not do production with out having some kind of math or science
Answer:
Effect on income= $15,000 favorable
Explanation:
Giving the following information:
It has just determined that another $40,000 of repair work is required. Alternatively, it has found a newer used lift that is for sale for $170,000. The company estimates that both lifts would have useful lives of 6 years. The new lift is more efficient and thus would reduce operating expenses by about $20,000 per year. Darcy Roofing could also rent out the new lift for about $10,000 per year. The old lift is not suitable for rental. The old lift could currently be sold for $25,000 if the new lift is purchased.
Year 0= -170,000 + 25,000 + 40,000= -105,000
Year 1 trough 6= 20,000*6= 120,000
Effect on income= $15,000 favorable
Answer:
$23
Explanation:
ABC will sell based the lowest bid starting from the highest bid until all the 1,000 shares are allotted downwards as follow:
Number shares to bid of $26 for 100 shares = 100 shares
Number shares to bid pf $25 for 200 shares = 200 shares
Number shares to Alex's bid of $24 for 500 shares = 500 shares
Number shares to bid of $23 for 600 shares = 200 shares
Under Dutch auction, the lowest bid price of all the allotted or successful bidders will be paid by all the successful bidders.
Since the $23 is the lowest successful bid price, Alex ad to pay $23 for each share he obtained
