Answer:
Expense & revenue summary a/c (credit balance) = $3500
Explanation:
1. Dr Expense & revenue summary 52500
Cr Sales discount 1500
Cr Sales return & allowance 3000
Cr Depreciation expense 25000
Cr Salaries expense 23000
(Close expenses to expense & revenue summary a/c)
2. Dr Sales 56000
Cr Expense & revenue summary 56000
(Close sales to expense & revenue summary a/c)
3. Dr Expense & revenue summary a/c 3500
Cr Retained earning a/c 3500
(To close expense & revenue summary a/c)
4. Dr Retained earning 2000
Cr Expense & revenue summary 2000
(Close dividend to expense & revenue summary a/c)d
Answer:
The remaining part of the question is:
Which of the following statements are TRUE?
I New issues of Treasury Bills are generally priced at par
II New issues of Treasury Bonds are generally priced at par, or at a slight discount to par
III New issues of Agency Bonds are generally priced at par, or at a slight discount to par
A. I only
B. III only
C. II and III only
D. I, II, III
Correct Answer:
C. II and III only
Explanation:
It is a fact that virtually all new issues of T-Bills are always sold at a discount to par value. These are original issue discount obligations, with the accrued value of the discount being the interest income earned on these securities.
<em>Treasury Bonds and Agency Bonds are issued at par or in most cases at a very slight discount to par, and make periodic interest payments.</em>
Answer: a) Option A
Explanation:
There will be no effect on retained earnings because retained earnings do not increase as a result of shares being sold. It increases when net income increases.
Total paid-in capital increases when stock is sold for higher than its par value or when treasury stock is sold for higher than its acquisition price. The treasury stock here was sold for higher than it was bought so this would increase the total paid in capital.
Answer:
Increase and decrease the interest rate in the economy by a certain percentage
Explanation:
The Federal Reserve can influence the prevailing interest rates. However, it cannot increase or decrease the interest rate in the economy by a certain percentage. The Federal Reserve influences interests rate by adjusting the fed funds rate. The feds fund rate is the interest rate that banks charge each other when they borrow from each other.
The Federal Reserve can lend to commercial banks, Adjust reserve requirements, and buy and sell U.S. securities.
The correct answer is D.
If you don't include something in the subject line of an email the recipient might delete your message or send it to the spam folder. The whole purpose of a subject line is to include a compelling reason for the recipient to open the email and read it. If there is nothing in the subject line then the recipient will have no reason to open the email and might just automatically delete it of forward it to spam.
