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3 years ago

What plan of action will you do to address your development area??

1 answer:

3 0

The plan of action is to ensure that the address of an area is correct and keep focusing and looking on it. Action planning is a process which will help one to focus on ideas and decide on what steps needs to be taken to achieve particular goals or objectives that one may have. Preparing an action plan is a good way to help one reach their objectives in life.

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Suppose Ginger deposits $5,000 in cash into her checking account at the Bank of Skidoo. Show this transaction in a T-account for

Nutka1998 [239]

Answer:

1) Suppose Ginger deposits $5,000 in cash into her checking account at the Bank of Skidoo. Show this transaction in a T-account for the Bank of Skidoo.

Reserves Checkable deposits

debit credit debit credit

5,000 5,000

2) The Bank of Skidoo has no excess reserves and is subject to a 6 percent required reserve ratio. Assume the Bank of Skidoo makes the maximum loan possible from Ginger's deposit to Thurston. Show this transaction in a new T-account for the Bank of Skidoo.

Reserves Loans

debit credit debit credit

5,000 4,700

4,700

300

3) Thurston decides to use the money he borrowed to purchase a sail boat. He writes a check for the entire loan amount to Gilligan's Seagoing Vessels, which deposits the check in its bank, the Paradise Bank of Kona, Hawaii. When the check clears, the Bank of Skidoo transfers the funds to the Paradise Bank. Show these transactions in a new T-account for the Bank of Skidoo.

Reserves Checkable deposits

debit credit debit credit

5,000 5,000

4,700 4,700

300 300

4,700

4,400

4) The maximum amounts of deposits that can be created from Ginger's initial deposit is $_____

Increase in checkable deposits = change in bank reserves / required reserves = $5,000 / 6% = $83,333.33

The maximum amounts of loans that can be created from Ginger's initial deposit is $_____

the maximum amount of loans that can be created in Ginger's bank is $4,700, but the maximum amount that loans can be created in the whole banking system = $83,333.33 - $5,000 = $78,333.33

3 0

3 years ago

Assume that Simple Co. had credit sales of $258,000 and cost of goods sold of $158,000 for the period. Simple uses the aging met

Sphinxa [80]

Answer: The amount of bad debt expense the company would record would be $3,470.

Explanation: Bad debt expense is an estimate of accounts receivable that is deemed as uncollectible while allowance for doubtful accounts is a balance sheet allowance account that warehouses the total balance of accounts receivable that is deemed irrecoverable.

In this scenario, Simple Co. estimated, using the aging method, that the allowance for doubtful accounts is $3,800. However, it had a credit balance of $330 in the same account. The reinstate the allowance account to $3,800, $3,470 has to be adjusted for by debiting bad debt expense and crediting allowance for doubtful account.

3 0

3 years ago

Pablo management has ten part-time employees, each of whom earns $145 per day. they are normally paid on fridays for work comple

kvv77 [185]

Explanation:

December 31, 2016: To record accrued wages for one day (10 workers × $145) = $1,450.

January 4, 2017: To record accrued and current wages.

Wages expense = 10 workers × 3 days × $145 = $4,350

Cash = 10 workers × 4 days × $145 = $5,800.

See attached photo.

4 0

3 years ago

AJ Manufacturing Company incurred $54,000 of fixed product cost and $43,200 of variable product cost during its first year of op

kvv77 [185]

Answer:

Explanation:

The preparation of the income statement is presented below using the generally accepted accounting Principles (GAAP) :

Sales $176,000

Less: Cost of goods sold ($97,200) ($54,000 + $43,200)

Gross margin $78,800

Less: Selling and administrative cost ($31,000) ($17,200 + $13,800)

Net income $47,800

Hence, we considered all the given information

8 0

3 years ago

Suppose the U.S. yield curve is flat at 3% and the euro yield curve is flat at 5%. The current exchange rate is $1.4 per euro. W

Kruka [31]

Answer: hello your question is incomplete attached below is the complete question.

answer :

3.02 million, 2.96 million, 2.91 million

Explanation:

Determine the swap rate over a 3-year period

swap rate = forward exchange rate * exchange amount

For year 1

1.4 * ( 1 + 0.03 / 1 + 0.05 ) * 2.2 million

= 1.4 ( 0.98095 ) * 2.2

= 3.02 million

For year 2

1.4 * ( 1 + 0.03 / 1 + 0.05 )^2 * 2..2 million

= 1.4 ( 0.98095 )^2 * 2.2 million

= 2.96378 million

For year 3

1.4 * ( 1 + 0.03 / 1 + 0.05 )^3 * 2.2 million

= 1.4 ( 0.98095 )^3 * 2.2 million

= 2.90733 million

3 0

2 years ago