First let us identify if the asset is a gain
or loss. An asset is a gain if it contributes to the banks overall finance while
it is a loss if it is a cost directly or indirectly.
Deposits of $300 million = Gain (+)
Reserves of $20 million = Gain (+)
<span>Purchased government bonds worth $300 million
= Loss (-) ---> This entails
cost</span>
Selling bank’s loans at current market value
of $600 million = Gain (+)
Therefore adding up everything to get the banks net worth:
Stealth banks net worth = $300 M + $20 M - $300 M + $600 M
<span>Stealth banks net
worth = $620 million</span>
Answer: Computer aided engineering(CAE) systems.
Explanation:
Computer aided engineering involves making use of computer softwares that aids production. The computer aided engineering software is used to design how product could look like, simulate the product on a computer system to determine the product's possible performance and to ensure the desired standard is met, before the design can then be used to carry out production. Computer aided engineering is commonly applied in automobile production and large buildings construction.
Answer:
The expenses can be recorded as follows;
Debit to the expenses of $33,000 and a credit to the cash account of $33,000.
Explanation:
The accounting equation is an equation that tends to balance a company's assets on one side and the sum of its liabilities and shareholders equity on the opposite side of the equation. It form the basis for the double-entry system in accounting that includes an accounts debit and credit. The debit is a sum to an amount that is owed, it is usually listed on the left hand-side of an account while the credit is a listing of a sum that is received usually on the right hand side of an account.
In the case of Michael Barry, the accounting equation;
Assets=liabilities+stockholders equity
Assets=$126,000
Liabilities=$74,000
Stockholders equity=$52,000
liabilities+stockholders equity=74,000+52,000=$126,000
The assets equals the sum of the liabilities and stockholders equity.
To record expenses paid of $33,000;
Debit Credit
Expenses $33,000
Cash $33,000
