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mart [117]
3 years ago
10

Mint Co.'s cash balance in its balance sheet is $1,300,000, of which $300,000 is identified as a compensating balance. Additiona

lly, Mint has classified cash of $250,000 that has been restricted for future expansion plans as "other assets." Which of the following should Mint disclose in notes to its financial statements?Compensating | Restricted | Balance | Cash |A. No | YesB. Yes | YesC. No | NoD. Yes | No
Business
1 answer:
Natasha2012 [34]3 years ago
7 0

Answer:

Correct option is B Yes and Yes

Yes - Compensating shall be reported, And Restricted shall also be reported.

Explanation:

Compensating balance is the minimum balance to be maintained in the company's bank account as this is used by bank for offsetting loan, and used by company to set up the loan amount.

Restricted balance is a choice made by the company to not use the funds and use it later for company's growth or future projected, but still since it cannot be used it shall also be reported accordingly.

Therefore the company has the need to report such restricted balance also and compensating balance has to be reported as well.

Therefore correct option is B

Yes - Compensating shall be reported, And Restricted shall also be reported.

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Assume that the money demand function is (M/P)d = 2,200 – 200r, where r is the interest rate in percent. The money supply M is 2
liubo4ka [24]

Answer: The nominal money supply should set at 1,600.

Explanation:

Given that,

Money demand function: (M/P)d = 2,200 – 200r

r - Interest rate

Money supply (M) = 2,000

Price level (P) = 2

If the fed wants to set the interest rate at 7% then,

Money supply = money demand

(\frac{M}{P})^{s} = (\frac{M}{P})^{d}

\frac{M}{P} = 2,200 – 200r

P = 2 and r = 7%

\frac{M}{2} = 2,200 – 200 × 7

                            M = 800 × 2

                            M = 1,600

The nominal money supply should set at 1,600.

6 0
3 years ago
An expense account normally has a ___________ balance.<br><br> A. Debit<br> B. Credit
swat32

Answer:

An expense account normally has a debit balance.

8 0
2 years ago
Kellyanne hired Joshua from Southwest University. He was an amazing employee and exceeded all her expectations. The next year, s
Anastasy [175]

Answer:

Representativeness heuristic bias

Explanation:

Representativeness heuristic bias occurs when there are similar events whose probability of occurrence is assumed to be the same. People mistakenly assume there is a close relationship between the two events than there really is.

For example of John is a lawyer, he is judged to be a lawyer because of expression of various traits associated with lawyers.

Kellyanne hired Joshua from Southwest University. Because of his outstanding performance, it is assumed that other considered from Southwest University will also perform outstandingly.

This is a form of representativeness heuristic bias

7 0
3 years ago
Why does switerland import so many goods fro indonesia such as textiles, garments, furniture, and agricultural products?
Step2247 [10]
The answer to this question would be A because Indonesia produce goods  cheaper than Switzerland can make them this is because the labor is cheaper.Sorry for the late answer. 
4 0
3 years ago
The process of continuously updating, improving, and detailing a project management plan, or parts of a project management plan,
Zina [86]

Answer:

progressive elaboration

Explanation:

progressive elaboration is an important part or step of project management plan, it is the process of continously updating, improving and detailing a project management plan, or part of it as new specific information becomes available. it is use to improve the project management plan

3 0
3 years ago
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