Answer:
There will be no effect on the level of checkable deposits.
Explanation:
Since the bank sold the $10 million of bonds to pay back a debt, that means that the bank's checkable deposits will not change. The bank's reserves will remain unchanged since the checkable deposits remain unchanged.
Answer:
Tax law uncertainty.
Explanation:
The “Tax law uncertainty” is the correct answer because it can be seen in the question that Congress has disallowed the deductions for advertisement in the future tax years. Since the decisions that the government takes are confidential and only a few people are aware of the decisions before its formal announcement. So the same case is here, Jolsen had a contract of $375000 annually and it will estimate that after obtaining the tax deduction, the advertisement cost will be lower. But the changes in the tax laws result in underestimated after-tax cost by Jolsen.
Answer:
Consider the following explanation.
Explanation:
1. True. It is generally seen in the automobile market. The purchased inventory serves as the collateral for the loan.
2. True. The higher capital provides support for the continued solvency of these comapanies.
3. False, The federal reserve has the right and authority to regulate finance companies.
4. This statement is true.
5. True. They also charge higher interest rates than banks for bearing the risk of poor credit of these borrowers.
The journal entry for this issuance would include is $ 10,53,000.00.
A magazine entry consists of the acquisition of machinery with the aid of the country wherein the equipment account could be debited, and the coins account may be credited.
A magazine access is a report of the enterprise transactions inside the accounting books of a enterprise. A well documented magazine entry consists of the best date, amounts to be debited and credited, description of the transaction and a completely unique reference wide variety. A magazine access is the first step within the accounting cycle.
Debit Credit
Number of shares = $ 39,000
cost of per shares = $3
total cash of shares = $ 117000 117000
Common stock ( 39000 * 3 ) 117000.00
Paid in capital ( 39000 shares * 27) 10,53,000.00
(To record the issuance of shares at a premium of $ 27)
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