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Ray Of Light [21]
3 years ago
12

The Federal Reserve offers banking services to which of the following? Select all that apply. other banks U.S. government foreig

n countries
Business
2 answers:
ludmilkaskok [199]3 years ago
7 0
<h3>Answer;</h3>
  • Other banks
  • U.S. government
  • Foreign countries
<h3><u>Explanation;</u></h3>
  • <em><u>The Federal bank is the central bank in the United States. It acts as a bank for other banks and provides financial services to depository institutions such as banks, credit unions, and savings and loans.</u></em>
  • This central bank of the united states was created by the congress to provide the country with safer, more flexible and more stable monetary and financial system.
  • The reserve offers banking services to other banks, U.S. governments, credit unions and also foreign countries.
Varvara68 [4.7K]3 years ago
4 0

3 answers are correct

Explanation:

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The chart shows the marginal cost and marginal revenue of producing apple pies.
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Answer:

The marginal cost will most likely increase to $2.00

Explanation:

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Read 2 more answers
Michek Company loans Sarasota Company $2,000,000 at 6% for 3 years on January 1, 2020. Michek intends to hold this loan to matur
nevsk [136]

Michek Company's Journal Entries related to loans to Sarasota Company are as follows:

a) Journal Entries without using fair value option:

December 31, 2020:

Debit Interest Receivable $120,000

Credit Interest Revenue $120,000

  • To record the 6% interest due on January 1.

December 31, 2022:

Debit Interest Receivable $120,000

Credit Interest Revenue $120,000

  • To record the 6% interest due on January 1.

b) Journal Entries with fair value option

December 31, 2020:

Debit Loan Receivable $50,000

Credit Unrealized Gain from Fair Value $50,000

  • To record the fair value of the loan.

Debit Interest Receivable $120,000

Credit Interest Revenue $120,000

  • To record the 6% interest due on January 1.

December 31, 2022:

Debit Unrealized Loss from Fair Value $20,000

Credit Loan Receivable $20,000

  • To record the fair value of the loan.

Debit Interest Receivable $120,000

Credit Interest Revenue $120,000

  • To record the 6% interest due on January 1.

Data and Calculations:

January 1, 2020, amount of loan = $2,000,000

Interest rate = 6%

Period of loan = 3 years

December 31,                   2020           2021           2022

Fair value of loan   $2,050,000   2,020,000   2,000,000

Interest income         $120,000     $120,000     $120,000 ($2,000,000 x 6%)

Payment of interest = January 1

December 31, 2021:

Debit Unrealized Loss from Fair Value $30,000

Credit Loan Receivable $30,000

Debit Interest Receivable $120,000

Credit Interest Revenue $120,000

Thus, the Loan Receivable account's balance at December 31 each year varies only when using the fair value option.

Learn more: brainly.com/question/13212872

4 0
2 years ago
On November 15, 20X3, Chow Inc., a U.S. company, ordered merchandise FOB shipping point from a German company for €200,000. The
MArishka [77]

Answer:

$4,000 gain

Explanation:

Some information was missing:

the spot rates for euros were:

  • November 15, 20X3 $0.4955  per €1
  • December 10, 20X3 $0.4875  per €1
  • December 31, 20X3  $0.4675  per €1
  • January 10, 20X4 $0.4475  per €1

In Chow's December 31, 20X3, income statement, the foreign exchange gain is ?

the goods costed €200,000 x 0.4875 = $97,500 on December 10, 20x3

the goods costed €200,000 x 0.4675 = $93,500 on December 31, 20x3

Since the goods were sold FOB shipping point, we have to use the shipping date (December 10) to calculate the original price. By December 31, the price in US dollars had decreased by $4,000 resulting in a foreign exchange gain.

8 0
3 years ago
Jasper Company has 70% of its sales on credit and 30% for cash. All credit sales are collected in full in the first month follow
hjlf

Jasper Company Cash Receipts Budget shows the estimated cash receipts from customers and other sources.

<h3>Cash Receipts Budget for April, May, and June:</h3>

                   April      May       June       Total

Cash Sales 30%    $157,500   $160,500   $168,000    $486,000

Credit Sales 70%    400,000   367,500    374,500    1,142,000

Total             $557,500  $528,000  $542,500  $1,628,000

Calculations:

a) Cash Sales for April = 30% of April Sales = 30% * $525,000 = $157,500. The difference of 70% is received in May.

b) Sales received on account for April = 100% of Accounts Receivable = $400,000.

c) Cash Sales for May = 30% of April Sales = 30% * $535,000 = $160,500. The difference of 70% is received in June.

d) Cash Sales for June = 30% of April Sales = 30% * $560,000 = $168,000. The difference of 70% is received in July.

To learn more about cash receipts visit the link

brainly.com/question/15561219

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2 years ago
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