Answer: The maximum amount Tim's deposit will the money supply is $1,04,895.
Explanation:
Given that,
new cash deposit(DD) = $45,000
Required reserves (RR) = 30% of the deposited amount( $45000)
= ![\frac{30}{100} \times 45000](https://tex.z-dn.net/?f=%5Cfrac%7B30%7D%7B100%7D%20%5Ctimes%2045000)
= $13,500 ⇒ this much amount banks have to keep with them and the remaining amount is used for giving loans.
Money multiplier = ![\frac{1}{RR}](https://tex.z-dn.net/?f=%5Cfrac%7B1%7D%7BRR%7D)
= ![\frac{1}{30%}](https://tex.z-dn.net/?f=%5Cfrac%7B1%7D%7B30%25%7D)
= 3.33
So, the maximum amount Tim's deposit will the money supply = (DD - RR) \times money multiplier
= (45000 - 13500) × 3.33
= 31500 × 3.33
= $1,04,895
Following assumptions must hold to ensure that money supply created in the economy from the deposits is at its potential:
(a) All borrowers quickly spend all of their newly acquired fund.
(b) All banks in the banking system lend all of their excess reserves.
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Answer:
Account receivable balance = $1,100 - ($1,100* 5%)
Account receivable balance =$1,100 - $55
Account receivable balance = $1,045
Date Account Title Debit Credit
Cash Account $1,045
To Accounts receivable $1,045
Quilt and Dye Fabrics is an example of a company that <u>Imports</u>.
<u>Option: E</u>
<u>Explanation:</u>
An import-export business is that facilitates exchange between domestic and foreign corporations in goods and services. In other terms, it is a business that globally buys products and sends them in for domestic sales and vise the other way around.
An import is commodities carried from an external source into a jurisdiction, particularly across a national border. The faction that has put in the success is considered an importer. An import into the destination country is a send country export.
Answer:
COGS= $680500
Explanation:
The cost of goods sold refers to the direct costs attributable to the production of the goods sold in a company. This amount includes the cost of the materials used in creating the goods along with the direct labor costs used to produce the goods. It excludes indirect expenses, such as distribution costs and sales force costs.
COGS=Beginning Inventory+Production during period−Ending Inventory
We need to calculate the production during the period.
Cost of manufactured period= Beginning work in progress inventory+ direct materials + direct labor + factory overhead - ending work in progress
Cost of manufactured period= 118,500+ 298,500 + 132,000 + 264,000 - 125,900 =$687,100
COGS= 232,100 + 687,100 - 238,700=$680500