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sergij07 [2.7K]

3 years ago

8

A local charity spent $15,000 on a fundraising campaign. The charity raised $7 for each dollar it spent on the fundraising campa

ign. How much did the charity raise?

1 answer:

marysya [2.9K]3 years ago

5 0

$15,000 * $7= $105000

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During 2017 the inflation rate increased slightly but remained in the "comfort zone" and the unemployment rate was low. Why mig

goblinko [34]

Answer:B It thought that unemployment was a greater problem than the rising inflation rate

Explanation:

Inflation is the continuous rise in price of goods and services which is as a result of large volume of money in circulation used for the few available goods and services.

Unemployment is a situation where all that are willing and capable of being employed are unable to get employment.

In the above scenario lowering Interest rates will increase the volume of money in circulation which will invariably increase inflation and we equally increase level of investment as the cost of fund will be cheaper thereby lowering unemployment.

This action means unemployment is of greater problem than rising inflation.

It does not mean inflation is of more concern than unemployment otherwise it will have increase the interest rate, it will make loanable fund demanded to exceed supply and the quantity of money in supply will increase.

7 0

3 years ago

Cycle Wholesaling sold merchandise on account, with terms n/60, to Sarah’s Cycles on February 1 for $550 (cost of goods sold of

nikitadnepr [17]

Explanation:

The journal entries are shown below:

On February 1

Account receivable - Sarah’s Cycles A/c Dr $550

To Sales $550

(Being the goods are sold on credit)

Cost of goods sold A/c Dr $375

To Merchandise Inventory A/c $375

(Being goods are sold at cost)

On February 9

Sales return and allowance A/c Dr $137.50 ($550 ÷ 4)

To Accounts receivable - Sarah’s Cycles $137.50

(Being sales return is recorded)

Merchandise Inventory A/c $85

To Cost of goods sold A/c Dr $85

(Being sales return is recorded)

On March 2

Cash A/c Dr $412.50 ($550 - $137.50)

To Accounts receivable - Sarah’s Cycles $412.50

(Being cash is received)

The net profit margin is

= (Net sales - Cost of goods sold) ÷ Net sales

= ($412.50 - $290) ÷ ($412.50)

= 29.69%

The cost of goods sold

= $375 - $85

= $290

5 0

3 years ago

Tulip Corporation purchased equipment for $ 60 comma 000 on January 1, 2017. On December 31, 2019, the equipment was sold for

Mashcka [7]

Answer:

The sell will generate a loss of $6,000.

Explanation:

Please find the below for detailed calculations and explanations:

- The equipment's net value at the time of disposal is equal to: Book value of the equipment - The accumulated depreciation of the equipment = 60,000 - 28,000 = $32,000;

- The gain/(loss) on the disposal of equipment is equal to: Sell price of the equipment - The equipment's net value at the time of disposal = 26,000 - 32,000 = $(6,000)

Thus, Tulip Corporation's disposal of the equipment at Dec 31st 2019 makes a loss of $6,000.

8 0

3 years ago

Metropolis National Bank is holding 2% of its deposits as excess reserves. Assume that no banks in the economy want to maintain

iris [78.8K]

Answer:

Increase in money supply = $200,000

Explanation:

Note: The given question is incomplete, missing part is as follow:

Metropolis National Bank

Balance sheet

Assets Liabilities

Reserves $60,000 Deposits $500,000

<u> Loans $440,000 </u>

Computation:

Excess reserve hold = 2% × Deposits

Excess reserve hold = 2% × $500,000

Excess reserve hold = $10,000

Required reserve = Reserves - Excess reserve hold

Required reserve = $60,000 - $10,000

Required reserve = $50,000

So,

Required reserve ratio = [$50,000 / $500,000]100 = 10%

Multiplier(K) = 1 / Required reserve ratio

Multiplier(K) = 1 / 10%

Multiplier(K) = 10

Total Money = Person deposit + Excess reserve hold

Total Money = $10,000 + $10,000

Total Money = $20,000

Increase in money supply = Total Money × Multiplier(K)

Increase in money supply = $20,000<u> </u> × 10

Increase in money supply = $200,000

7 0

2 years ago

Jkjgvvvv k11 . jd.ddc.c.c.c.c.c.c.c.c.cc.c.c.c.c.cc.cc.c.c.c.

BabaBlast [244]

Answer:

Ask your question <u>properly</u>

<u>and </u><u>also </u><u>follow </u><u>me </u>

6 0

3 years ago