Answer:
Commercial banks, required reserve, loans, deposits, create.
Explanation:
The main function of commercial banks is to accept deposits and then to lend the same money (minus required reserves) back out. Banks make a profit by charging a higher interest rate on loans than the interest rate they pay on deposits. Through the loan process, banks are actually able to create money.
The major function of commercial banks is
1. Accepting deposits from people and business organzations.
2. Giving loans to Customers to be paid at a specific period of time at an agreed interest rate.
Required reserve is the minimum amount of money which in required for a commercial Bank to hold/save out of every deposit. If the required reserve is 10% of every deposit, a customer customer deposited $100. The required will be $10 which the bank will hold. The remaining $90 is the balance which banks can loan out to Customers.
Commercial Banks make profit by charging a higher interest rate on loan and lower interest rate on deposits. For example: 7.5% interest rate on loan and 2.5% interest rate on deposits. The 5% difference is the bank Profit.
Answer:
Dr Rent revenue
Cr Unearned rent revenue, $4,500
Explanation:
Preparation of XYZ Company Journal entry
Since we were told that the Company received the amount of $18,000 on April 1, 2020 for a one year's rent paid in advance in which the transaction has a credit to a nominal account, this means we have to record the transaction by Debiting Rent revenue with 4,500 and Crediting Unearned rent revenue, with the same amount of $4,500 calculated as
(3/12 x $18,000 ).
Dr Rent revenue
Cr Unearned rent revenue, $4,500
(3/12 x $18,000 )
Answer:
if you are approved for a secured loan, a lender will put a lien on an asset until the loan is paid off. An unsecured personal loan, by contrast, does not require any collateral. Examples of unsecured loans can include credit cards, student loans, unsecured personal loans, and unsecured personal lines of credit.
Answer:
debit Salaries and Wages Expense, $24,000; credit Salaries and Wages Payable, $24,000.
Explanation:
The journal entry is shown below:
Salaries and Wages Expense A/c Dr $24,000
To Salaries and Wages Payable $24,000
(Being salary and wages is adjusted)
The computation is shown below:
Five day salary = $30,000
Per day salary = $30,000 ÷ 5 days = $6,000
Now Monday to Thursday salary i.e 4 days salary = $6,000 × 4 days = $24,000
In such a material, the number of paragraphs that Ramiro needs in order to be able to cover a material of this sort is 4.
<h3>What is a paragraph?</h3>
This can be explained to be a section or a part of writing that is usually made up of a particular theme.
Paragraphs are usually created through the use of new spaced lines and indentation in research and other forms of writings.
Read more on paragraphs here:
brainly.com/question/1205541
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