Answer:
1. Accounts receivable due = Accounts receivable + Allowances
2008
= 760,100 + 26,259
= $786,359
2009
= 840,810 + 23,936
= $864,746
2. Amount of receivable written off = Beginning balance for Allowance for doubtful accounts + Bad debt - Closing balance for allowance for doubtful accounts
= 9,200 + 3,400 - 9,148
= $3,452
3. Gross sales = Net Sales + Sales returns
Sales Returns = Closing balance for reserve for product returns + goods returned - Opening balance for reserve for product returns
= 14,788 + 3,440 - 17,059
= $1,169
Gross sales in 2009 = 6,244,800 + 1,169
= $6,245,969
4. Cash collected = Credit Sales - Goods returned - Bad debts written off - Ending receivables balance + Beginning receivables balance
= 6,245,969 - 3,440 - 3,452 - 864,746 + 786,359
= $6,160,690
At the end of 2008, the Fed took action to significantly lower the federal funds rate.The best way to describe this action is as offensive.
Quantitative facilitating is a strategy when a national bank endeavors to invigorate the economy by purchasing long haul protections.The Fed wanted to lower the interest rates on 10-year Treasury notes and mortgages.
In response to the Great Recession, what actions did the Federal Reserve take?
To lower interest rates, it bought on the open market.
The Federal Funds Rate—also known as the Federal Funds Target Rate or the Fed Funds Rate—is set by the Federal Open Markets Committee (FOMC) to direct overnight lending among U.S. banks.It is established as a range between two limits.Currently, the federal funds rate is 3.75 percent to 4%.
Learn more about Federal Funds Rate here:
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The purpose of a memo is to communicate directions, advice, or information.
Answer:
B) indirectly contribute to the country's productive capacity.
Explanation:
Financial assets are non-physical assets whose value is determined by contractual rights, e.g. cash, stocks, bonds, bank CDs, etc.
Financial assets indirectly contribute to the country's productive capacity since they allow individuals and businesses to invest in other private firms and government securities. This increases the amount that private firms and government can invest or spend.
The gross profit method is an inventory tracking system that shows the cost and gross profit margin on each time. The gross profit method allows a company to see how much money they would profit from their inventory on hand after they subtract the cost of good solve (COGS). Businesses can choose to do this daily, weekly, monthly or yearly depending on their business and accounting/book keeping needs. Each type of business has periods and those periods are what mades them stay on track with accounting.
