Answer:
The correct statement related to the pro forma statements is:
The addition to retained earnings is equal to net income less cash dividends.
Explanation:
When the beginning retained earnings are increased by the addition to retained earnings, it means that the cash dividends have been subtracted from the net income. This addition is the leftover net income after offsetting the dividends. It increases the retained earnings by the end of the financial period.
Answer:
$31,000
Explanation:
The computation of the cash collected from customers is shown below:
Cash collected from customers = Sales + Decrease in accounts receivable
= $30,000 + $1,000
= $31,000
We simply added the sales and the Decrease in accounts receivable so that the accurate amount can come
All other information which is given is not relevant. Hence, ignored it
Answer:
$90; $900
Explanation:
Given that,
Amount of deposits = $100
Required reserve ratio = 10%
Required reserves:
= Amount of deposits × Required reserve ratio
= $100 × 10%
= $10
Excess reserves = Deposits - Required reserves
= $100 - $10
= $90
Money multiplier:
= 1/ Required reserve ratio
= 1/ 0.1
= 10
Money Supply:
= Amount of excess reserves used for lending × Money multiplier
= $90 × 10
= $900
The money supply could eventually grow by as much as $900.
Answer:
The correct answer is letter "D": Harold will win his case because the employer was aware of the racially harassing behavior, yet no discipline was imposed.
Explanation:
The Equal Employment Opportunity Commission (<em>EEOC</em>) is an agency of the federal government of the United States that enforces laws against race, color, religion, sex, age, or disability discrimination in the workplace. Most employers and unions are covered under EEOC laws.
In Harold's case, the harassment was not specifically against him but there were clear signs of discrimination. However, Alegius Financial Services did not do anything regarding this issue what will result in finding the company liable after Harold sued them.
A budget can help teens start to discern between genuine needs and wants and will show them where their money is going each month. A good budget will provide for both needs and at least some wants and should be flexible and relatively easy to use and understand.
