Answer:
$7,899,827
Explanation:
The computation of the maximum increase in money supply is shown below:
Data given in the question
Additional value in excess reserves = $868,981
Reserve ratio = 11%
By considering the above information, the maximum increase in money supply is
= Additional value in excess reserves × 100 ÷ reserve ratio
= $868,981 × 100 ÷ 11
= $868,981 × 9.09
= $7,899,827
The accounting entries for Rippen Corporation is recorded as follows:
December 3,
DR Accounts Receivable (Burnen Corp.) $480,000
CR Sales $480,000
DR Cost of Goods Sold $320,000
CR Inventory $320,000
December 8,
DR Sales Return $30,000
CR Accounts Receivable $30,000
DR Inventory $20,000
CR Cost of Goods Sold $20,000
December 12,
DR Cash $441,000
DR Credit Discount $9,000
CR Accounts Receivable $450,000
<h3>What is Journal Entry?</h3>
A journal entry is recorded for the transactions of a company in the relevant period, the entry that is recorded is also known as the double entry. These journal entries are then used to prepare T-Accounts, an then trial balance is made and ultimately income statement and balance sheet are made.
The transaction includes a discount of 2% as credit discount for the payment being made within 10 days.
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I think the most appropriate answer would be "a car dealership salesman" would be the opportunity cost.
I hope it helped you!
This is also known as the three duties towards the customer DAD Dealing with Honesty. Accounting for all funds and Disclosing the material facts to the buyer.
<h3>Who is a buyer?</h3>
A buyer is a customer who purchases the goods and or services of a company through which the company generates the revenue and earn profits. The buyer plays a key role in the development and running of a company.
The buyer should be allowed to have all the information about the product or service it is going to purchase, the buyer should be informed about the market rates and the demand of the goods as this is a material fact about the product.
Therefore it is a duty that a seller owes to the buyer to deal with honesty that is not charging high price if they are unaware of the price of the product.
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ANSWERS: There was a format called Company Town where the company would virtually own and control the entire town including daily need item stores. Workers were lured with attractive wages and accommodation. But, the wages were paid in 'Scrips' which were company printed currency meant to be spent in the stores owned by the company owned and controlled stores inside the company town. This led to the employees getting dependent on employers and their personal freedom and space getting interfered by employers. This relation led to the term 'Wage Slavery'. This practice was continued in mining town till 1960s whereas the concept of company town ended in the 1920s.
