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sergij07 [2.7K]
3 years ago
10

Money stock Identify whether each of the following examples belongs in M1 or M2. If an example belongs in both, be sure to check

both boxes. Example M1 M2 Kenji has $25,000 in a money market account. Lucia has $8,000 in a two-year certificate of deposit (CD). Eric has a roll of quarters that he just withdrew from the bank to do laundry.
Business
1 answer:
yulyashka [42]3 years ago
3 0

Answer:

<em>For Kenji he falls on the category M2, for Lucia it's M2, and for Eric belongs to the category of both M1 and M2 respectively.</em>

Explanation:

<em>M1 money supply comprises of  currency in physical form and coin, the demand deposit( check-able) travelers check</em>

<em> M2 money supply comprises of  Certificate deposit and M1, savings, money market funds, and time deposits for example, M2 money supply comprises   money.  that is less liquid/</em>

  • <em> Kenji has $25000 in a money market account - it belongs to the category of  M2 money supply.</em>
  • <em>  Lucia has $8000 in a two year CD, it belongs to the category - M2  which is money supply </em>
  • <em>Eric withdrew money from the bank to do laundry. The money he took will go to cash that is available or in the economy at that time or the  physical currency. these category belongs in M1. As M2 money supply contains  M1 therefore this example also belongs in M2. </em>

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Answer: Please see the required journals below:

December 31:

Debit Bad debt expense                                $6,034

Credit Allowance for doubtful accounts       $6,034

February 1:

Debit Allowance for doubtful accounts              $431

Credit Accounts receivables                               $431

June 5:

Debit Cash                                                            $431

Credit Bad debt recovery (income statement)   $431

Explanation: The company estimates its bad debt expense as percentage of sales. In this case 0.7% of its annual sales of $862,000 was deemed as uncollectible, that is, 0.7% x $862,000 = $6,034. The required journals to recognize this bad debt expense is provided above. However, since there was an existing provision, which resides in the allowance account, a write-off would definitely hit that account in order to extinguish the accounts receivable portion. Upon recovery of the write-off, we cannot reinstate the receivable since it was already extinguished but we need to recognize the recovery as a gain.

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3 years ago
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Answer:

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You have to avoid calling potential clients unless they initiate contact with you and specifically request that you give them a call.

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A health care plan refers to a medical plan for the medical care of a particular patient which covers a part or whole risk of the medical expenses incurred such as Medicare.

In this scenario, we can reasonably infer that as a marketer, you should avoid calling potential clients to market those medical plans, unless they initiate contact with you and specifically request that you give them a call.

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Answer:

The best evaluation for Kenton's research is C) Poor; he has only researched the monetary costs of the career.

Explanation:

Besides monetary costs to him (which was not all that comprehensive as it didn't include training tools, books, etc) there are also non-monetary costs such as time, hard work, and all the other things he must forego while he is focused on becoming a make-up artist.

The career also comes with its perks and advantages. Kenton's work would have been comprehensive if he researched the benefits as well as the risks, and regulatory requirements where there are any.

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International workers are most times referred to as expatriates. Expatriates are people who live and work in a country which is not their country of origin.

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