Answer:
a. is a list of accounts with their balances at a given time.
Explanation:
There are two columns in the trial balance, namely debit columns and columns of credit. The total amount of columns of debit and credit should always match and equaled.
The debit columns reflect assets and expenses side while earnings, stockholder equity, and liability side are listed in the credit column. It is prepared for the given period of time.
Based on this information alone, the company's retained earnings equal $3,000.
<h3>Retained earning</h3>
Using this formula
Retained earning= Assets-liabilities-Common stock
Where:
Assets=$10,000
Liabilities=$2,000
Common stock=$5,000
Let plug in the formula
Retained earning=$10,000-$2,000-$5,000
Retained earning=$3,000
Inconclusion the company's retained earnings equal $3,000.
Learn more about retained earning here:brainly.com/question/25631040
Answer:
Fink's revenue from insurance premiums for the current year is: $13,500,000
Explanation:
Insurance premiums recognised for the current year -
Insurance collected + Beginning Deferred premiums account - Ending Deferred premiums account
= $ 17,900,000 + 4,000,000 - 8,400,000 = $13,500,000
Answer:
increase the money supply by $5 billion
Explanation:
When the Fed carries on an expansionary monetary policy it lowers interest rates and purchases government securities in order to increase the money supply in an attempt to boost economic growth.
The increase in the money supply is determined by the total amount of the open market operations carried out by the Fed ($1 billion) and the money multiplier (= 1/reserve ratio = 1/20% = 5).
Total increase in money supply = $1 billion x 5 = $5 billion
