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3 years ago

12

Suppose all banks are subject to a uniform reserve requirement of 20 percent and that the union bank has no excess reserves. if

a new customer deposits $50,000, the bank could extend new loans up to a maximum of

1 answer:

ahrayia [7]3 years ago

3 0

The answer is 40,000

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During January 2017 General Fund supplies ordered in the previous fiscal year and encumbered at an estimated amount of $2,000 we

Norma-Jean [14]

Answer:

The correct answer is:

Expenditures—2017 in the amount of $200. (C.)

Explanation:

This scenario describes a record that was less than the actual amount spent on the General Fund supplies. The amount recorded was $2,000, meanwhile the actual amount spent was $2,000. This entails that an amount worth $200 was not recorded, hence it will be debited as expenditures, but the question now is where the debit will be recorded?

This review was done in January 2017, meaning that the income statement for the 2016 Fiscal year must have been balanced, hence the amount will be an expenditure recorded in 2017, but the particulars will have a description that it was a carried over expenditure from 2016. Therefore $200 will be debited from 2017 as expenditures.

5 0

2 years ago

Live Forever Life Insurance Co. is selling a perpetuity contract that pays $1,500 monthly. The contract currently sells for $115

vfiekz [6]

Answer:

1.30%

15.60%

16.77%

Explanation:

The monthly return is the amount payable monthly divided by the current price of the investment vehicle.

monthly return=$1500/$115,000=1.30%

Annual percentage return=monthly return*12=1.30% *12=15.60%

Effective annual return=(1+1.30%)^12-1

EAR=1.167651776 -1

EAR=16.77%

5 0

2 years ago

List the characteristics typical of a c corporation

Svet_ta [14]

Answer:

The five main characteristics of a c corporation are:

limited liability: the owners' liability is determined by the amount of money they invested in purchasing the corporation's stock.
corporations are owned by stockholders: every single stockholder owns a piece of the corporation, the size of that piece is determined by the amount of stocks.
double taxation: owners of the corporation suffer from double taxation because first the corporation must pay corporate taxes and then the owners must pay income taxes when they receive dividends.
corporations are separate entities: corporations exist by themselves, they are born when they are created and die when they are dissolved.
corporations are professionally managed: the owners elect a board of directors and the board is responsible for hiring professional management.

Explanation:

3 0

2 years ago

The purpose of a budget is to track your income and your spending. true or false?

skad [1K]

False we use it to save money

3 0

3 years ago

Read 2 more answers

Oak Island Amusements Center provides the following data on the costs of maintenance and the number of visitors for the last thr

Semmy [17]

Answer:

a. (i) $1.40

(ii) $190,000

b. $3,410,000

Explanation:

The computation of fixed cost of maintenance annually and the variable cost of maintenance per visitor is shown below:-

a. (i) Variable cost per visitor = (Maintenance cost at highest number of visitors - Maintenance cost at lowest number of visitors) ÷ (Highest number of visitor - Lowest number of visitor)

= ($3,830,000 - $2,773,000) ÷ ($2,600,000 - $1,845,000)

= $1,057,000 ÷ $755,000

= $1.40

(ii) Fixed cost of maintenance = Total costs - Variable cost at that level

= $2,773,000 - $1,845,000 × $1.40

= $2,773,000 - $2,583,000

= $190,000

b. The computation of estimated maintenance costs is shown below:-

Estimated maintenance costs = Fixed costs + Variable cost per visitors × Number of visitors

= $190,000 + 2,300,000 × $1.40

= $190,000 + $3,220,000

= $3,410,000

6 0

2 years ago