Answer:
A. Debit to salaries and wages expense for 64,000
Credit to FICA taxes payable for 4,896
Credit to Federal Income Tax Payable for 7,500
Credit to State Income Tax Payable for 3,100
Credit to Union Dues Payable for 400
Credit to Salaries and Wages Payable for 48,104
B. Debit to payroll tax expense for 5,596
Credit to FICA tax payable for 4,896
Credit to State Unemployment for 700
Answer: B2B transactions involve transactions where the buyers and sellers are both businesses, while B2C involves transactions between businesses and consumers.
Explanation:
Business-to-business transactions are simply regarded as the transactions that takes place between one business and another business. This can occur when the business is looking for inputs for its production process.
Business-to-consumer transactions simply regarded as the transactions that takes place between a business and the customers. This occurs when a business sells its goods or services to the customers directly without the goods passing through the middlemen.
Answer:
the money multiplier = 1 / reserve ratio
in this case, the reserve ratio is 10% (required) + 10% (voluntary) = 20%, so the money multiplier = 1/20% = 5
What is the immediate impact of this transaction on the money supply?
- None, since the money supply doesn't change. When a customer deposits money in a bank, the money does not increase, only its composition changes.
The maximum amount by which this bank will increase its loans from the transaction in part (a)
- the bank will be able to loan ⇒ total deposit x (1 - reserve ratio) = $9,000 x (1 - 20%) = $7,200
The maximum increase in the money supply that will be generated from the transaction in part
- since the banks started to "create" money by lending the money, the money supply will increase by ⇒ total deposit x (money multiplier - 1) = $9,000 x 4 = $36,000
Assume that the government increases spending by $9,000, which is financed by a sale of bonds to the central bank. Indicate what will happen to the money supply.
- The money supply will increase.
Explain what will happen to the money demand.
- The money demand will also increase because aggregate demand and income will increase. Aggregate demand will increase by ⇒ $9,000 x government multiplier. The government multiplier = 1 / MPS.
Answer:
The answer is $330750. the option (b) is correct
Explanation:
Solution
Given that:
The Balance sheet for Cold stone report recorded on 12/31/2021:
Cost Retail Ratio
Beginning Inventory $180,000 $278,250
Purchase $735,200 $907000
Net Markups $12,000
Less: Net markdowns $0
The cost of goods available
for sale $915200 $1197250 76%
Less sales $866,500
Ending Inventory $330750
Therefore the inventory balance for Cold stone is $330750
