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3 years ago

Identify whether each example in the following table belongs in M1, M2, or both.

Business

1 answer:

netineya [11]3 years ago

7 0

Answer:

Juanita has $8,000 in a six-month certificate of deposit (CD)

Conclusion: M2

Charles has a $10 bill in his wallet.

Conclusion: M1

Gilberto has $3,000 in a savings

Conclusion: M2

<em>Definition of Terms</em>

M1 money supply are those monies that are liquid such as cash and demand deposits.

M2 money supply are less liquid in nature and includes M1 + savings and time deposits, certificates of deposits, and money market funds.

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If variable cost of goods sold totaled $90,000 for the year (18,000 units at $5.00 each) and the planned variable cost of goods

IrinaK [193]

Answer:

$10,800

Explanation:

The computation of effect on the quantity factor is shown below:-

Actual variable cost = 18,000 × $5

= $90,000

Planned variable cost = 16,000 × $5.40

= $86,400

Total change in contribution margin = Actual variable cost - Planned variable cost

$90,000 - $86,400

= $3,600

Change in quantity = 18,000 - 16,000

= 2,000 units

Effect on the quantity factor = Change in quantity × Cost per unit

= 2,000 units × $5.40

= $10,800

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3 years ago

On January 5, 2020, Sheffield Corporation received a charter granting the right to issue 5,100 shares of $100 par value, 7% cumu

andrew11 [14]

Answer:

Sheffield Corporation

Journal Entries

Date Description DR CR

Jan 11 Cash 292,500

Common stock 195,000

Paid in Capital for common stock 97,500

<em>Being the amount received on issue of </em>

Feb 11 Equipment 53,300

Factory Building 152,000

Land 295,000

Prefereed stock 410,000

Paid -in -capital for Preferred stock 90,300

July 29 Treasury stock 25,600

Cash 25,600

Being the payment of own share purchased

Aug 10 Cash 22,400

Retained Earnings 3,200

Treasury stock 25,600

Dec 31 Retained earnings 10,025

Dividend(0.35*19500) 6,825

Treasury stock 3,200

Dec 31 Net Income ( Income Summary) 158,400

Retained Earnings 158,400

Balance sheet as at Dec 31

Equity

Common stock at $10 par value $195,000

7% Preferred Stock 410,000

Paid in capital for common stock 97,500

Paid in capital for Preferred stock 90,300

Retained Earnings ( 158,400-6825-3200) <u> 148,375</u>

Explanation:

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3 years ago

Jones Company signed a 5-year note payable on January 1, 2019, of $100,000. The note requires annual principal payments each Dec

Diano4ka-milaya [45]

The entry to record the annual payment on December 31, 2020, by Jones Company is as follows:

Debit Note Payable $15,000

Debit Interest Expense $5,000

Credit Cash $20,000

<h3>How do you record annual payments?</h3>

Annual payments can be recorded by debiting the accounts that receive the value and crediting the account that gives value as above.

<h3>Data Analysis:</h3>

Note Payable = $100,000

Maturity period = 5 years

Date of Issuance = January 1, 2019

Principal repayment plus interest = December 31

Interest rate = 5%

Annual Interest in dollars = $5,000 ($100,000 x 5%)

Note Payable $15,000 Interest Expense $5,000 Cash $20,000

Thus, the entry to record the annual payment on December 31, 2020, by Jones Company is debits to Note Payable ($15,000) and Interest expense ($5,000), and a credit to Cash account ($20,000).

Learn more about recording annual payments at brainly.com/question/14290379

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2 years ago

The numerator in the calculation of the ratio of liabilities to stockholders' equity is a.Total Assets. b.Total Stockholders' Eq

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Explanation:

a.Total Assets

The numerator in the calculation of the ratio of liabilities to stockholders' equity is Total Assets

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3 years ago

What is core capabilities

Sloan [31]

Alternative term for core competencies.

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4 years ago