Answer:
sales revenue 29,000 debit
income summary 29,000 credit
income sumamry 10,520 debit
operating expenses 6,200 credit
income tax expense 4,320 credit
income summary 18,480 debit
retained earnings 18,480 credit
Explanation:
To close the temporary account we will use an auxiliar account called income summary.
We will post expense in the credit against income summary in the debit
for revenues we will do the other way around, debit aainst income summary on credit.
Last, we transfer the balcne of this account into retained earnigns.
<u>balance of retained earnings: </u>
29,000 - 10,520 = 18,480
Answer:
0.89 orders per minute
Explanation:
As per the data given in the question,
Batch size = 4 orders
Here, process 1 = cooking
process 2 = Bagging and payment accepting
Time taken to complete process 1 by cooking a batch of 4 orders
= 3 × 1 + 0.5 × 3
= 4.5 minutes
Time taken to complete process 2 by Bagging and payment accepting of 4 orders
= 0.80 × 4
= 3.2 minutes
Time in process 1 is greater than time taken in process 2
Since, process 1 is bottleneck operation So, it will decide the capacity of project. therefore,
Overall capacity = 4.5 minutes for 4 orders
Therefore number of orders = 4 ÷ 4.5
= 0.89 orders per minute
Hence, Process capacity = 0.89 orders per minute
Answer:
Debit Credit
Common Stock 75,000
Cash 75,000
Brokerage fees 1,000
Cash 1,000
Cash 50,000
Loss on sale of common stock 25,000
Common Stock 75,000
Explanation:
5000*15= 75,000
5,000*10= 50,000
75,000-50,000= 25,000
The correct option is b. the firm's total cost $500.
Total cost:
Total fixed costs are the total of all recurring, fixed costs that a business incurs.
The variable and fixed expenses of providing commodities are combined to create a total using the total cost formula. The equation is:
Total cost = (Average fixed cost x average variable cost) × Number of units produced.
Cindy's Car Wash has average variable costs of $
and average fixed costs of 
when it produces 
units of output (car washes).
The firm's total cost is
AFC = $
, AVC = $
Average total cost = AFC + AVC = $
It produces units
$ × = $
Therefore, option b is the answer $.
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Answer:
A. If the reserve requirement is 5% then money multiplier is 20 and the the money supply for each reserve requirement is $10,000 billion
B. If the reserve requirement is 10% then money multiplier is 10 and the the money supply for each reserve requirement is $5,000 billion
For a given level of reserves, a lower reserve requirement is associated with a larger money supply. Suppose the Federal Reserve (the Fed) wants to increase the money supply by $500 billion. Again, you can assume that banks do not hold excess reserves and that households do not hold currency. If the reserve requirement is 10%, the Fed will use open-market operations to buy $50 billion worth of U.S. government bonds. Now, suppose that rather than immediately lending out all excess reserves, banks begin holding some excess reserves due to uncertain economic conditions. Specifically, in addition to the required reserves of 10%, banks hold an additional 40% of their deposits as reserves. This increase in the reserve ratio causes the money multiplier to fall to 2. Under these conditions, the Fed would need to buy $250 billion worth of U.S. government bonds in order to increase the money supply by $500 billion.
The following statements help to explain why the Fed cannot precisely control the money supply are:
B- The Fed cannot control the amount of money that households choose to hold as currency.
C- The Fed cannot control whether and to what extent banks hold excess reserves.
Explanation:
A. If the reserve requirement is 5% then money multiplier is 20 (= 100%:5%) and the the money supply for each reserve requirement is $10,000 billion (=$500 billion x 20)
B. If the reserve requirement is 10% then money multiplier is 10 (= 100%:10%) and the the money supply for each reserve requirement is $5,000 billion (=$500 billion x 10)
