Answer:
The answer is 72.9 dollars.
Explanation:
The reserve ratio of 10% means that bank must keep 10% percent of amount deposited in bank to meet emergency payments and can lend the remaining 90% to other banks. So the second bank can lend 81 dollars that is 90% of 81 dollars. As per this rule second bank has 72.9 dollars (90% of 81) to lend.
C You always want to prepare
Answer: C. $40 million.
Explanation:
By granting them 15 million shares subject to forfeiture if employment is terminated within three years, the company is compensating them.
The total amount that they will be compensated with has to be apportioned over the 3 years as an expense that will reduce earnings per year.
Total compensation = No. of shares * fair value of shares
= 15,000,000 * 8
= $120,000,000
Apportioned over 3 years;
= 120,000,000/3
= $40,000,000
Answer and Explanation:
The preparation of the income statement is presented below:
Service revenue $634,900
Less:
Depreciation Expense $10,000
Insurance Expense 9,000
Miscellaneous Expense 8,150
Rent Expense 60,000
Supplies Expense 4,100
Utilities Expense 44,700
Wages Expense 548,200
Net loss -$49,250
Answer: $5,150
Explanation:using the information given above,
For every $1 contributed by the employee, employer adds 50cent.
Employer contribution ends after employee contributes $2500 to the 401(k) plan.
Last year:
Ian's weekly contribution = $75
Number of weeks in a year = 52
Ian's total contribution ($75 × 52) = $3,900
Ian's Employer's total contribution:
$0.5 × $2500 = $1,250
Therefore total contribution last year :
$3900 + $1250 = $5,150
