Answer: Both the State and local governments
Explanation: The State and Local Governments prepare both entity wide and fund financial statements.
The entity wide and fund financial statements consist of the statement of net assets and Statement of activities. That is its information is based on the funds the Government has and what the funds are used for.
This is different from the private organisations financial statement as they present every thing necessary about the organisation which includes statement of profit and Loss and Balance sheet.
The State and Local Government do not prepare Profit or loss account as the government funds generally have a short-term perspective.
Answer:
depreciation expense 2021 = $6,200
depreciation expense 2022 = $6,700
Explanation:
depreciable value = $29,000 - $200 = $28,800
depreciation expense per mile driven = $28,800 / 144,000 = $0.20
number of miles driven during 2021 = 31,000
depreciation expense 2021 = 31,000 x $0.20 = $6,200
number of miles driven during 2020 = 33,500
depreciation expense 2022 = 33,500 x $0.20 = $6,700
I will recommend a contraction of the money supply by increasing the revenue ratio or discount rate or selling bond.
I will also recommend a contraction of the money supply which would reduce the lending ability of the banking system, increase the real interest rate and reduce investment spending, aggregate demand and inflation.
<h2>Further Explanation</h2>
Supposing I am a member of the board of governors and the economy is experiencing a sharp rise in the inflation rate, I will suggest to other members and recommend a contraction of the money supply by increasing the discount rate.
The discount rate refers to an interest rate that is charged when commercial banks borrow money from the Federal Reserve System.
Also, it is required of all banks in the United States to set aside a particular percentage of their deposits in reserve.
The Federal Reserve System was created in 1913 and it is the central bank of the United States. The structure of the Federal Reserve System is made of the Board of governors and 12 Federal Reserve banks
Some of the core functions of the Federal Reserve board include
- They regulate the money supply with monetary policy
- They control the affairs of the financial institutions
- They control the checking clearing procedures in both regional and national.
Learn more about the federal reserve system at:
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Answer and Explanation:
1st Sep Land 85400/140000*120000 $73,200
Building 54600/140000*120000 $46,800
Cash $120,000
2nd Sep Equipment 42000*0.91743 $38,532.06
Discount 3780*0.91743 $3,467.94
Notes Payable $42,000
15th Sep Truck $2,700
Sales Revenue $2,700
18th Sep Organization Cost Expenses $4,000
Cash $4,000
10th Oct Machinery $17,600
Cash $17,600
2nd Dec Office Equipment $5,700
Common Stock $5,700
10th Dec Land $22,000
Cash $3,000
Notes Payable $19,000
Answer:
The correct answer is option (C).
Explanation:
According to the scenario, the given data are as follows:
Stock M = $18,200
Expected Return on Stock M = 10.40%
Stock N = $30,900
Expected return on Stock N = 14.30%
So, we can calculate the expected return on portfolio by using the following formula:
Expected return = Respective return (Stock M) × Respective weights (stock M) + Respective return (Stock N) × Respective weights (stock N)
Here, Total investment= ($18,200 + $30,900) = $49,100
So, by putting the value
Expected Return = (18200/49100 × 10.4) + (30900/49100 × 14.30)
= 12.85% (Approx).
Hence, the expected return on the portfolio is 12.85%.
