Answer:
DR BAD DEBTS (EXPENSE) 1958.35
CR ACCOUNTS RECEIVABLE 1958.35
DR ACCRUED INCOME 13 600
CR INCOME TAXES 13 600
Given:
Checkable deposit = $100 million
actual reserves = $12 million
required reserve ratio = 10%
100 million * 10% = 10 million
10 million - 12 million = 2 million excess reserves
D.) $2 million is the bank's excess reserves
The individual proprietor. A sole proprietorship is a pass-through entity, which means that all of the revenue and deductions are claimed by the individual who registers as a the sole proprietor. Therefore, this individual pays the taxes on such revenue gains and deducts any losses.
Answer:
A. Answer questions about the project prior to submittal of proposals
Explanation:
A bidder conference is a meeting held by a buyer to discuss a possible purchase with multiple potential suppliers.
<span>$65,472.34
The formula for compound interest is:
A = P(1+r/n)^(nt)
where
A = Future amount
P = Principle
r = annual interest rate
n = number of periods per year
t = number of years
So let's substitute the known values and calculate:
A = P(1+r/n)^(nt)
A = 46000(1+0.04/1)^(1*9)
A = 46000(1+0.04)^9
A = 46000(1.04)^9
A = 46000(1.423311812)
A = 65472.34
So $65,472.34 needs to be paid back after 9 years.</span>
