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A) it is more accurate than accrual accounting.
The maximum amount of new loans the bank can extend is $800,000.
<h3>What is the maximum amount of new loans the bank can extend?</h3>
The reserve ratio is the amount of deposits that must be kept as reserves with the central bank. The money that is not kept as reserves can be used to create loans.
Maximum loan amount = deposit - (reserve ratio x deposits)
1,000,000 - (0.2 x 1,000,000) = $800,000
To learn more about required reserves, please check: brainly.com/question/26960248
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Answer:
numerous cost pools and numerous cost drivers
Explanation:
Costing is the measurement of the cost of production of goods and services by assessing the fixed costs and variable costs associated with each step of production.
In Financial accounting, one of the most widely used activity-based costing technique is the time-driven activity-based costing.
Time-driven activity-based costing (TDABC) avails business owners the opportunity of reporting their costs on an ongoing basis (real time) which give details about the various cost of doing business, as well as the time spent on them respectively.
Cost pool is simply the amount of money spent by a firm on a particular activity.
Generally, an activity-based costing uses numerous cost pools such as manufacturing cost or customer services and numerous cost drivers such as direct labor hours worked, number of changes used in engineering department, etc.
Answer:
$5,320,000
Explanation:
the cost per ton = Cost - salvage value/ estimated tons.
= 25,120,000 - 4,000,000 /240,000
= $88 per ton
Tons remaning = 240,000 - 225000
= 15,000 ton
book value of the mine at year-end = (15000 ton x $88) + 4,000,000
= 132000 + 4,000,000
= $5,320,000
Therefore, At year-end, the book value of the mine (cost minus accumulated depletion) is $5,320,000
