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4 years ago

Use the information in the table below:

Business

1 answer:

tiny-mole [99]4 years ago

8 0

Answer:

1. $5,250 billion.

2. $3,000 billion.

Explanation:

1. M1 = M2 - Savings deposits - Money market mutual funds - Small time deposits

M1 = $13,700 billion - $7,000 billion - $700 billion - $750 billion

M1 = $5,250 billion

Thus, M1 is $5,250 billion.

2. Currency in circulation = M1 - Checking deposits

Currency in circulation = $5,250 billion - $2,250 billion

Currency in circulation = $3,000 billion

Thus, the amount of currency in circulation is $3,000 billion.

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3 years ago

Haver Company currently produces component RX5 for its sole product. The current cost per unit to manufacture the required 61,00

DanielleElmas [232]

Answer:

It is more convenient to produce in house.

Explanation:

Giving the following information:

Direct materials $ 4.00

Direct labor 8.00

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Total costs per unit $ 21.00

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The fixed costs are unavoidable, therefore we will concentrate the analysis in the variable costs.

Make in house:

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It is more convenient to produce in house.

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4 years ago

On January 2, 2017, Kellogg Corporation acquired equipment for$800,000. The estimated life of the equipment is 5 years or 80,

lesya692 [45]

Answer:

Book value of the asset = $484,000

Explanation:

Given:

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Computation:

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3 years ago

Palmona Co. establishes a $200 petty cash fund on January 1. On January 8, the fund shows $38 in cash along with receipts for th

FrozenT [24]

Answer:

Date Explanation Debit Credit

January 1 Petty Cash $200

Cash $200

Explanation:

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Date Explanation Debit Credit

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Cash $200

Being the establishment of petty cash fund

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Date Explanation Debit Credit

January 8 Postage $74

Transportation $29

Delivery $16

Miscellaneous $43

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Petty Cash is usually a fund established by an organisation to take care of day to day expenses. At the end of a period or at the exhaustion of the fund, an account is given and then the amount spent is reimbursed.

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Answer:

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