Answer: C - Jenny pays Abe $300 to give the dog to his parents who live on an isolated farm.
Explanation: Since the benefit of owning the dog is worth $200 to Abe and Jenny is willing to pay him $300 to send the dog to his parents who lives on an isolated farm. Abe stand to gain an extra $100 above his initial benefit of keeping the dog for $200.
Answer:
See explanation section.
Explanation:
June 1 Petty Cash $450
Cash $450
To record opening of petty cash.
12 Cash $11,381
Cash short and Over $14
Sales $11,367
To record the sales and finding the cash short and over.
30 Store Supplies $50
Merchandise Inventory $108
Office Supplies $106
Miscellaneous Administrative Expense $146
Cash Short and Over $6
Cash $416
To record the expenses cash short and over.
30 Cash $21,860
Cash Short and Over $19
Sales $21,879
To record the sales and finding the cash short and over.
30 Petty Cash $113
Cash $113
To record the increase of petty cash.
Answer:
Correct answer is FALSE
Explanation:
FOB Destination transfers ownership of the goods to the buyer after the goods reached to its destination (either in the buyer’s warehouse or any place stated in the contract to be delivered). Thus, goods in-transit under FOB destination still belongs to the seller and not to the buyer yet. Moreover, it should not be included to buyer’s inventory because the title of ownership of the said goods still belongs to the seller at the time of transit.
<span>Mark signs a periodic tenancy lease at the river's edge warehouse for one year. After the year expires, Mark stays in the warehouse and the landlord acquiesces. Mark has another one-year lease. Mark as another one-year lease because periodic tenancies automatically renew after the one-year for another unless notice was given. In the lease agreement there is a section which states the notice due date or timeframe it must be given in and the tenancy will terminate the lease at the expiration of the time period. </span>
Answer:
10 percent
Explanation:
Given that,
Total reserves = $5 billion
Check-able deposits = $50 billion
Loans = $25 billion
Securities = $20 billion
Required reserve ratio = (Reserves ÷ Check-able deposits) × 100
= ($5 ÷ $50) × 100
= 10%
Therefore, the required reserve ratio is 10 percent.
