Answer:
There will be no effect on the level of checkable deposits.
Explanation:
Since the bank sold the $10 million of bonds to pay back a debt, that means that the bank's checkable deposits will not change. The bank's reserves will remain unchanged since the checkable deposits remain unchanged.
In developed economies such as United States, the sector which dominates the economy is the consumer service sector such as legal firms and hospitals. The other sectors in this type of economy are increasingly dominated by automation and the workforce in this sector fall, while the consumer service sector continue to grow based on human service. The services rendered by this sector can not be easily automated.
Answer:
b) credit to Rent Expense for $1530
Explanation:
Date Accounts and Explanation Debit Credit
Income Summary $5,550
Salaries & Wages Expense $2,900
Rent Expense $1,530
Advertising Expense $740
Supplies Expense $270
Insurance Expense $110
(To Close the expense accounts)
Answer:
C
Explanation:
The highest mountain could fit into the deepest ocean basin.
