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sukhopar [10]
3 years ago
12

Fiona deposits $2,000 into a savings account. If the Fed requires a 20 percent reserve ratio, how much of Fiona’s money can the

bank lend?
Business
1 answer:
puteri [66]3 years ago
4 0

Answer:

Explanation:

The amount the the fed require =  

20/100 x 2,000 = 400

The amount of money that Fiona's bank can lend is : $ 2,000 - $ 400

= $ 1,600

hopefully this helps you

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Pharoah Company began operations in July 2020. At the end of the month, the company prepares monthly financial statements. It ha
abruzzese [7]

Answer:

1.At July 31, the company owed employees $1,100 in salaries that the company will pay in August.

July, 31

DR Salaries Expense.................................................$1,100

CR Salaries Payable.................................................................$1,100

<em>(To record accrued salaries expense)</em>

2.On July 1, the company borrowed $20,000 from a local bank on a 10-year note. The annual interest rate is 12%.

July entry would be;

July 31,

DR Interest Expense ................................................$200

CR Interest Payable ............................................................$200

<em>(To record interest accrued for the month)</em>

<u>Working</u>

= 20,000 * 12%/12 months

=  $200

3. Service revenue unrecorded in July totaled $3,000.

July 31,

DR Accounts Receivable .......................................$3,000

CR Service Revenue ...............................................................$3,000

<em>( To record unrecorded Service revenue.)</em>

3 0
3 years ago
The​ bring your own​ device phenomenon has raised​ _____________ concerns for companies.
svetlana [45]

Answer: The correct answer is security.

Explanation: The bring your own device phenomenon has raised security concerns for companies. It is very difficult for businesses to maintain the security of their IT systems. When companies allow their data to be accessed by personal devices it becomes very difficult for them to insure that the data stays safe on devices that they have no control of.

5 0
3 years ago
Mervon Company has two operating departments: Mixing and Bottling. Mixing occupies 26,220 square feet. Bottling occupies 17,480
nordsb [41]

Answer and Explanation:

Given:

Mixing department occupies = 26,220 square feet

Bottling department occupies = 17,480 square feet.

Total maintenance costs = $204,000

Computation of total area:

Total area = (26,220 + 17,480) square feet

Total area = 43,700 square feet

Computation of mixing department maintenance costs:

Mixing department maintenance costs = Total maintenance costs(Mixing department area / Total area)

Mixing department maintenance costs = $204,000(26,220 / 43,700)

Mixing department maintenance costs = $204,000(0.6)

Mixing department maintenance costs = $122,400

Computation of bottling department maintenance costs:

Bottling department maintenance costs = Total maintenance costs(Bottling department area / Total area)

Bottling department maintenance costs = $204,000(17,480 / 43,700)

Bottling department maintenance costs = $204,000(0.4)

Bottling department maintenance costs = $81,600

5 0
4 years ago
he Acmeville Metropolitan Bus Service currently charges $0.99 for an all-day ticket, and has an average of 433 riders a day. The
DedPeter [7]

Answer:

2.77

the bus company should  decrease price to increase revenues.

Explanation:

Price elasticity of demand measures the responsiveness of quantity demanded to changes in price of the good.

Price elasticity of demand = percentage change in quantity demanded / percentage change in price

If the absolute value of price elasticity is greater than one, it means demand is elastic. Elastic demand means that quantity demanded is sensitive to price changes.

Demand is inelastic if a small change in price has little or no effect on quantity demanded. The absolute value of elasticity would be less than one

Demand is unit elastic if a small change in price has an equal and proportionate effect on quantity demanded.

percentage change in price = 1.21 / 0.99 - 1 = 0.222 = 22%

Percentage change in quantity demanded = 169 / 433 = -0.6097 = - 60.97%

Elasticity of demand = 60.97% /  22% = 2.77

Demand is elastic, so if price in reduced, there would be a rise in quantity demanded that would exceed the rise in price. This would increase revenues

3 0
3 years ago
Scout Company sold $15.000 of merchandise in September with a three-month warranty. The cost to repair defects under warranty is
chubhunter [2.5K]

Answer: debit to Product Warranty Expense for $750

Explanation: 5% of $15000 =

5 ÷ 100 × $15000 is $750.

This is an expense and so will be a debit.

8 0
3 years ago
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