The answer i your question is B I believe
<span>A bank is legally required to hold a fraction of its deposits as required reserves. These regulations are a requirement and set by most banks around the world. They set minimum amounts that must be held all the type to serve as a reserve in case of an </span>emergency.
The amount of cash received from credit sales during the month of may $676,000. In general credit sales is equals to total sale multiply by credit sales ratio.
What is credit sales?
Credit sales = Closing debtors + Receipts - Opening debtors.
Credit sales are transactions in which the debt will be paid in full at a later time. In other words, credit sales are transactions in which customers make purchases but do not pay in full, in cash, at the time of the transaction.
A manual for bookkeeping. Recognition of Revenue. Sales are recorded as a credit since the journal entry's opposite, which is typically a debit to either the cash or accounts receivable account, is a credit. In essence, the credit raises shareholders' equity while the debit increases one of the asset accounts.
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Answer:
$60,000
Explanation:
The computation of change in net working capital is shown below:-
Change in net working capital = Increase in cash + Increase in accounts receivables + Increase in inventories - Increase in payable - Increase in accruals
= $20,000 + $40,000 + $60,000 - $50,000 - $10,000
= $120,000 - $60,000
= $60,000
Therefore for computing the change in net working capital we simply applied the above formula.
Answer:
The correct answer is letter "A": a corporation by estoppel.
Explanation:
A corporation by estoppel refers to individuals or organizations contracting and dealing with an entity as if they were corporations when legally they are not. The term is also used when in court cases when the defendant alleges to have formed a defective corporation to avoid liabilities.
