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3 years ago

On a bank's T-account:________.

Business

1 answer:

Flauer [41]3 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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High Country Apparel signed a $75,000, two-year, interest-bearing, 5% note on October 1, 20XX. The maturity value of the note is

Ket [755]

Based on the information given the maturity value of the note is: $82,500.

Using this formula

Maturity value of note=Principal amount+(Principal amount× Number of year× Interest rate)

Where:

Principal amount=$75,000

Number of year=2 year

Interest rate=5% or 0.05

Let plug in the formula

Maturity value of note=$75,000+($75,000×2 year×0.05)

Maturity value of note=$75,000+$7,500

Maturity value of note=$82,500

Inconclusion the maturity value of the note is: $82,500.

Learn more about maturity value of note here:brainly.com/question/24374294

4 0

2 years ago

As a result of a thorough physical inventory, Horace Company determined that it had inventory worth $320,000 at December 31, 201

zimovet [89]

Answer:

The correct answer is option b) $367,000

Explanation:

Here for calculating the correct amount of inventory that Horace should report can be calculated through, by adding the inventory worth $320,000 at 31 December, 2015 with consignment given to Herschel worth $47,000, SO

Correct amount of inventory =

Amount of inventory on 31 December

Consignment given to Herschel

= $320,000 + $47,000

= $367,000

Here we are taking Herschel consignment in to account and that too at the historical purchase cost because Horace company has give the Herschel to sell the goods on his behalf but the transfer of ownership has not taken place here , the right to ownership here remains with the Horace and the amount at which they should be recorded is at purchase cost not selling cost.

We will also not include goods worth $ 22,000 in to the calculation because the Horace company has not received the goods physically yet, we will include those goods in to inventory on January 3 not before that.

3 0

3 years ago

Which of the following best shows how the farmer’s records can help develop an accurate yield estimate in the scenario below?

DENIUS [597]

Answer:

Explanation:

5 0

3 years ago

Universal Travel, Inc. borrowed $500,000 on November 1, 2021, and signed a twelve-month note bearing interest at 6%. Principal a

Hoochie [10]

Answer:

$5,000

Explanation:

Calculation to determine what Travel, Inc. should report as interest payable at December 31, 2021

Interest payable at Dec 31,2021= $500,000 * 6% * 2 months/12 months

Interest payable at Dec 31,2021= $5,000

(November 1 - December 31 = 2 months)

Therefore Travel, Inc. should report interest payable at December 31, 2021, in the amount of:$5,000

4 0

2 years ago

Suppose that if the Doombug toy is dropped, the production and sale of other Draper toys would increase so as to generate a $16,

Slav-nsk [51]

Answer:

The correct option is A

Explanation:

Contribution Margin = Sales - Variable expense

= $150,000 - $120,000

= $30,000

Doombug's Profit Margin = Avoidable fixed expenses - Contribution Margin

= $8,000 - $30,000

= ($22,000)

Increase or Decrease in net operating income = Additional contribution margin - Doombug's Profit Margin

= $16,000 - ($22,000)

= ($6,000)

Therefore, there is decrease in net operating income of Doombug. So, there is decrease of $6,000.

5 0

3 years ago