Ask question

Ask question

All categories

3 years ago

13

Refer to the accompanying balance sheet for the First National Bank. Assume the reserve ratio is 15 percent. If a check for $20,

000 is drawn and cleared against this bank, it will then have excess reserves of:_________.
a) $30,000
b) $15,000
c) $20,000
d) $25,000

1 answer:

Arlecino [84]3 years ago

7 0

The answer is b $15,000

You might be interested in

(Table: Optimal Choice of Milk and Honey) Look at the table Optimal Choice of Milk and Honey. The price of milk is $2 per gallon

raketka [301]

Since you provide no table, me nor anyone else would not be able to find out his total utility

But if he spends all his income on honey, the most he can buy is :

$16 / 4$ = 4 Jars

That leave either option 1 or option 4 as the answer

4 0

3 years ago

How is a provision for bad debt recognized in the income statement and balance sheet

prohojiy [21]

Answer: The provision for doubtful debts is an accounts receivable contra account, so it should always have a credit balance, and is listed in the balance sheet directly below the accounts receivable line item. The two line items can be combined for reporting purposes to arrive at a net receivables figure

HOPE THIS HELPS

6 0

3 years ago

Enter mia's total profit/loss for the month in the box below then click submit

o-na [289]

Answer:

350

Explanation:

Add 9000 + 200 = 9200

Then you do 9550 - 9200 = 350

4 0

3 years ago

Built-Tight is preparing its master budget for the quarter ended September 30. Budgeted sales and cash payments for product cost

balandron [24]

Answer:

(1) Total cash receipts:

July = $63,800

August = $64,800

September = $68,800

2-a. Ending Cash Balance:

July = $15,00

August = $21,173

September = $35,873

2-b. Loan Balance End of Month:

July = $2,898

August = $0

September = $0

Explanation:

(1) Prepare a cash receipts budget for July, August, and September.

Note: See part (1) of the attached excel file for the cash receipts budget for July, August, and September.

From the attached excel file, we have:

Total cash receipts:

July = $63,800

August = $64,800

September = $68,800

(2) Prepare a cash budget for each of the months of July, August, and September.

Note: See part (2) of the attached excel file for the cash budget for July, August, and September.

In the attached excel file, the following calculation is made:

July loan repayment = July preliminary cash balance - Minimum cash balance required = $17,902 - $15,000 = $2,902

From the attached excel file, we have:

2-a. Ending Cash Balance:

July = $15,00

August = $21,173

September = $35,873

2-b. Loan Balance End of Month:

July = $2,898

August = $0

September = $0

7 0

3 years ago

Which of the following statements concerning common stock and the investment banking process is NOT CORRECT? Group of answer cho

Contact [7]

Answer: Stockholders have the right to elect the firm's directors, who in turn select the officers who manage the business. If stockholders are dissatisfied with management's performance, an outside group may ask the stockholders to vote for it in an effort to take control of the business. This action is called a tender offer.

Explanation:

Tender offer refers to a bid to buy the stock of a shareholder in a corporation. These are usually made public and the shareholders are invited to sell their shares at a given price and a particular period of time.

The statement that "Stockholders have the right to elect the firm's directors, who in turn select the officers who manage the business. If stockholders are dissatisfied with management's performance, an outside group may ask the stockholders to vote for it in an effort to take control of the business. This action is called a tender offer" is incorrect.

Even though the stockholders can vote and choose the board of directors, the information given in tender offer is wrong.

6 0

3 years ago