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2 years ago

On a bank's T-account:________.

Business

1 answer:

Flauer [41]2 years ago

3 0

Answer:

d. reserves are assets and deposits are liabilities.

Explanation:

On a bank's T-account the reserves created by the banks is the banks amount and is an asset for the bank because it is the contribution made by the bank to meet out the contingencies so in case these reserves are not utilised by the bank then it remains as an income for the bank .

Similarly the deposits made by the customers in the bank is a liability for the bank because this amount of deposit made by the customers belongs to the customers and are supposed to be returned by the banks at a later date.

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(Deferred Tax Asset with and without valuation Account) Jennifer Capriati Corp. has a deferred tax asset account with a balance

valina [46]

Answer:

a. Income Tax Expense (Dr.) $298,000

Deferred Tax (Dr.) $30,000

Income Tax Payable (Cr.) $328,000

Explanation:

b. Income Tax expense (Dr.) $30,000

Allowance to reduce deferred tax value to NRV (Cr.) $30,000

Income tax payable is calculated based on tax rate of 40%.

$820,000 * 40% = $382,000

8 0

2 years ago

When Padgett Properties LLC was formed, Nova contributed land (value of $358,500 and basis of $89,625) and $179,250 cash, and Os

lawyer [7]

Answer:Amount of Nova and Oscar's gain=$492,937.50

Explanation:

a)According to Land recorded for § 704(b) book capital account purposes, Land is recorded at fair market value. With this, the Padgett properties should record the land at $358,500

b)From the question, it is given that the basis of land is $89,625. Therefore, the Padgett Properties LLC's tax basis in the land is $89,625.

c)Amount of Nova and Oscar's gain.

Fair market value of Land $358,500

Basis of land $89,625

total $ 448,125

but Gain = Selling price of land - Fair value of Land x interest in partnership profits and capital

= $537,750 - ($358,500+$89,625 )

=($537,750 - $448,125 ) x 50% =$44,812.50

Total gain $448,125 + $44,812.50 =$492,937.50

4 0

2 years ago

As a firm's sales grow, its current assets also tend to increase. For instance, as sales increase, the firm's inventories genera

yanalaym [24]

Answer: True

Explanation:

Current assets are the assets that a company had and which are expected to be either used or sold over the next year. Examples of current assets are cash, cash equivalents, stock inventory, accounts receivable, marketable securities, and other liquid assets.

It should be noted that when the sales of a from continue to grow, the current assets of such company also increases. An example is when there is an increase in the sales increase, this.will also have an impact on the firm's inventories as there will be an increase.

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3 years ago

Which of the following refers to the strategic process of distributing, promoting, and pricing products, and discovering the des

I am Lyosha [343]

Answer:

a. electronic marketing

Explanation:

The electronic marketing refers to the strategic processing of the distribution and promotion and pricing of the products and discovery of the desires of the customers and users of their digital media in digital marketing to develop a strategic plan for the promotion of the marketing.

3 0

3 years ago

In the short-run an increase in the costs of production makes a. output rise and prices fall. b. output and prices fall. c. outp

gtnhenbr [62]

Answer:

C) Output fall and prices rise

Explanation:

In an aggregate supply, aggregate demand model, price level is the Y axis, and output is the X axis. Supply is positively related with price: the higher the price, the more firms produce.

However, to produce someting, firms need to employ the factors of production: land, labor and capital. The wages firms pay to workers, and the rent firms pay for land and capital are the production costs. If these costs rise, then, the products will become more expensive.

This increase in price will be met with lower demand; less customers will be willing to purchase the product, and therefore, the firms will start producing less until reaching a new equilibrium.

7 0

2 years ago