Answer:
C. Required reserves decrease by $20.
D. Outstanding liabilities decrease by $200.
A. Required reserves increase by $65.00.
D. Outstanding liabilities increase by $650.
Explanation:
<u>PART I:</u><u> The withdrawal from the checking accounts:</u>
makes the required reserves to decrease as there is less cash deposists.
Also, the bank no longer has the obligation to give this 200 dollars to Shantee thus, otstanding liabilities decrease by 200 as well:
checking deposits 200 debit
cash 200 credit
<u>PART II:</u><u> Deposit in a checking account</u>
This is the opposite. The bank reserve must increase by 10% of the deposit
650 x 10% = 65
And the outstanding liaiblities increase by the full amount as later the bank will give back 650 dollars to Dalon in the future.
Answer and Explanation:
1. Interest Revenue $23,000
Sales Revenue $510,000
To Income Summary $533000
(Being closing of revenues accounts are closed)
2. Income Summary $453,000
To Sales returns $20,000
To Sales Discounts $7,000
To Cost Of goods sold $310,000
To Freight out $2,000
To Advertise Exp $15,000
To Interest Exp $19,000
To Salaries & Wages $55,000
To Utility $18,000
To Depreciation $7,000
(Being closing of expenses accounts are closed)
3. Income Summary $80,000
To Retained Earning $80,000
(Being profit is recorded)
4. Retained Earning $30,000
To Dividends $30,000
(Being closing of dividend is recorded)
<span>Government increases the tax rate.
Consumers have less money to spend.
</span>Producers manufacture fewer goods.
Inflationary pressure decreases.<span>
</span>
Answer:
because of the product and the correct one is the one of the product is not working properly
