Answer: Federal reserve system is basically an independent agency.
Explanation: The Federal reserve system is the bank that functions as the central bank of the USA. It is an organization that oversees most of the economic activities of the nation, supervises the banks in the country, and help to reduce effects of financial crisis.
The federal reserve system is mainly an independent body, with it's own president and other leadership positions but it is answerable to the Congress of the USA.
Answer:
Interest Payable - 2021 = $6653.33 rounded off to 6653
Explanation:
The accrual principle in accounting requires the revenue and expenses for a period to be matched and recorded in their corresponding or respective periods. Thus, even though the interest on note will be paid at maturity in 2022, the interest expense related to the month of November 2021 and December 2021 will be recorded in the current year at 31 December as interest payable.
Interest Payable - 2021 = 499000 * 8% * 2/12
Interest Payable - 2021 = $6653.33 rounded off to 6653
Answer:
The correct answer is $12,060.
Explanation:
According to the scenario, the given data are as follows:
Production in June = 400 units
Production in July = 410 units
Each unit required = 5 pounds
Cost per pound = $6
So, June required raw material = 400 units × 5 pounds = 2000 pounds
For July required raw material = 410 units × 5 pounds × 20% = 410 pounds
So, required total raw material for June = 2000 pounds + 410 pounds - 400 pounds ( already in inventory)
= 2010 pounds
So, the total cost required for raw material in June = 2010 pounds × $6
= $12,060
Hence, the budgeted cost of purchases for raw material K for June is $12,060.
Answer:
B. 9.84%
Explanation:
Given that
D1 = 1.25
P0 = 27.50
g = 5%
F = 6%
Recall that
Cost of equity raised = (D1/P0 - [F × P0]) + g
Thus,
= 1.25/27.50 - [0.06 × 27.50] + 0.05
= 1.25/ 25.85 + 0.05
= 0.04835 + 0.05
= 0.09835
= 0.0984
=9.84%
Answer:
account receivables 600 debit
allowance for doubful account 600 credit
--to revert the write-off--
cash 600 debit
account receivables 600 credit
--to record the payment from Acme Inc--
Explanation:
The company will revert the write-off of Acme. Inc account and then record a collection as usual
We use the allowance account as previously the company did as follows:
allowance for doubful account 1,200 debit
account receivables 1,200 credit
to write-off the account.
We reverse this by the amount paid by Acme which is 600
Then, we record receiving the cash (debit) and decreasing the account receivable (credit)
