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Maru [420]
3 years ago
7

Are outstanding credit card balances counted as part of the money supply?

Business
1 answer:
V125BC [204]3 years ago
3 0
<span>Credit card balances are not counted as part of the money supply, because c</span>redit card balances reflect funds that have been borrowed. Unlike money, they cannot be used as a means of payment. The M1 supply contains <span>coins, paper currency, demand deposits, other checkable deposits, and traveler's checks. So, o</span>utstanding balances on credit cards is not a component of the M1 money supply.
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Ryan Company deposits all cash receipts on the day they are received and makes all cash payments by check. Ryan's June bank stat
Sergio039 [100]

Answer: $19037

Explanation:

The following can be deduced from the question:

Balance per Bank statement = $18361

Add: Deposits in Transit = $1450

Add: Bank error = $63

Less: Outstanding check = $837

Adjusted cash Balance per Bank:

= ($18361 + $1450 + $63) - $837

= $19874 - $837

= $19037

The adjusted cash balance per the bank records should be $19037.

N.B: The bank error was gotten as the difference between $92 and $29. $92 - $29 = $63

5 0
3 years ago
ABC Company sells 300 machines for $5000 each in the current year. Each machine carries a one-year warranty. Experience from the
const2013 [10]

Answer:

the journal entry to record warranty expense is:

Dr Warranty expense 30,000

    Cr Warranty liability 30,000

the journal entry to record actual expenses related to product warranties:

Dr Warranty liability 10,000

    Cr Cash (or inventory, or wages payable) 10,000

Depending on what type of costs are incurred by the company, the account credited will vary, e.g. if units are replaced, then inventory must be credited, or if units are repaired and only labor is used, then wages payable or cash should be credited. Since the question doesn't give us a lot of details, I credited cash.

7 0
3 years ago
What did congress do to protect consumers from monopolies, false advertising, and dishonest labeling? it established the america
alexandr1967 [171]
<span>In order to protect consumers from unfair business practices such as false advertising, dishonest labeling and monopolies, the federal government created the Federal Trade Commission to establish and enforce regulations protecting consumers from unfair and dishonest sales practices.</span>
4 0
3 years ago
Read 2 more answers
A study was done on the campus of a major state institution to measure attitudes of students to-wards the recent fee increase. O
kiruha [24]

Answer: Ordinal scale.

Explanation:Ordinal scale is the level of measurement that gives the ranking of data without showing the degree of variation between them. It helps in identifying if object has more or less characteristic when compared to another object but does not tell the exact weight of the characteristic. Data in Ordinal scale is usually given in order of magnitude since there is no standard of measurement of differences. For example 1=most willing to 5=least willing.

3 0
3 years ago
What is the total of tim’s liabilities if he has recorded $50,000 in assets and $40,000 equity on a balance sheet?
miss Akunina [59]

Total assets = Total liabilities + Total stockholders' equity

Total liabilities = Total assets - Total stockholders' equity

Total liabilities = $50,000 - $40,000

Total liabilities = $10,000

Hence, the total of Tim's liabilities is $10,000.

Responsibility is the responsibility of the individual or company and is usually the amount. Debts are settled over time by the transfer of economic interests, including money, goods, or services. The liabilities shown on the right side of the balance sheet include loans, liabilities, mortgages, income receivable, borrowings, guarantees, and accrued expenses.

Liability can be compared to assets. Debt is what you owe or owe. An asset is something you own or owe. In general, liability is an obligation between one party and another that has not yet been exempted or paid. In the accounting world, financial liabilities are also obligatory but are more likely to be defined by past commerce, events, sales, asset or service exchanges, or those that will generate economic benefits in the future.

Learn more about Liability here: brainly.com/question/24534918

#SPJ4

7 0
2 years ago
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