A credit to a liability account would happen upon the sale of a product because the Merchandise that was sold is subject to state sales tax.
<h3>What do credit do to liabilities?</h3>
In accounting, a credit is always been positioned on the right side of an entry and it effect is that it increases liability, revenue or equity accounts and decreases asset or expense accounts.
Because the state sales tax is seen as expenses, then, a credit to a liability account would happen upon the sale of a product because the Merchandise that was sold is subject to state sales tax.
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Answer:
A. The name of a company that gave the consumer a car loan two years ago
Explanation:
A credit report is the statement that contains the information related to your credit activity & the present credit situation like history of loan payment, the status of your credit accounts. This would help lenders to use these reports whether they will give you loan and if they are agree than what rate of interest they would offer you
So according to the given situation, the option A is correct
Answer:
reserves will be 0.1 billion
Explanation:
given data
discount rate = 1 %
borrow = $2 billion
reserve ratio = 10%
discount rate= 4.0% to 3.5%
to find out
bank reserves will be
solution
we know here discount rate is 1 % with borrow additional $2 billion and reserve ratio is 10%
and here discount rate is 0.5 % for 4% to 3.5 %
so here we can say bank will borrow $2 billion × 0.5
bank borrow = $1 billion
and
here bank reserves increase that is 10% × $1 billion
so reserves will be 0.10 × $1 billion = 0.1 billion
Answer:
The correct answer is letter "D": bonuses are deferred salary rather than extra pay for extra sales performance.
Explanation:
In the corporate world, entitlement culture refers to the workers' beliefs that they deserve a series of privileges. This tends to happen during growth periods. Employees assume that the optimal situation of the firm has to do with their performances then, the organization owes them.
An idea that is commonly spread under such a scenario is that bonuses and commissions are deferred salaries and not extra payment for outstanding performance.
