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Nina [5.8K]
3 years ago
15

What do banks do with most of their customers deposits

Business
1 answer:
MissTica3 years ago
7 0

Usually deposits go to making loans

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Nick’s Burritos purchases its inventory, on account, daily. At December 31, 2016, the company had taken receipt of $160,000 of i
Mkey [24]

Answer:

The $160,000 will be reported on the December 31, 2016, balance sheet as accounts payable

Explanation:

Account payable: The account payable is the amount in which the purchase of an item on a credit basis is recorded and the payment is to be made at the later date. It has come under the current liabilities on the balance sheet side.  

In the given question, the purchase of inventory is made for $160,000 on a credit basis. Along with it, the receipt is also taken from the supplier. So, the same amount i.e $160,000 will be recorded in accounts payable

4 0
3 years ago
Firms are more likely to effectively leverage their technologies in new markets if they identify new applications of the technol
Fantom [35]

Firms are more likely to effectively leverage their technologies in new markets if they identify new applications of the technology by identifying the best mode to generate profits from new markets. best, profits, new the sentence.

<h3>What are Firms?</h3>

Generally, Firms are simply defined as the business as an essential component of any economic system in which individuals satisfy needs via the division of labor and the trade of products and services.

In conclusion, Firms are business-oriented organizations.

Read more about Business

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6 0
2 years ago
Nathan has been unable to trust banks since the failure of his savings and loan bank. He claims that storing his hard-earned mon
Lerok [7]

Answer:

Nathan's contention is wrong.

Explanation:

Storage of money at home involves the opportunity cost of losing out on income that would've been generated had the same money been invested elsewhere or deposited with a bank.

Secondly, money stored at home is vulnerable to theft and other forms of risks.

Thirdly, stored money at home does not contribute to any economic benefit since such money is out of circular flow of money in the economy. So it yields no return.

Thus, Nathan's contention of stored money at home being costless is wrong.

4 0
3 years ago
A company received $11,000 cash in exchange for 200 shares of the company’s common stock. What would the effect of this transact
MAVERICK [17]

Answer:

B. $11,000 increase in Assets; No effect on Liabilities; $11,000 increase in Stockholders’ Equity

Explanation:

As the company received cash in exchange for the common stock. So, it affect the accounting equation which is shown below:

Total Assets = Total liabilities + Total  stockholder equity

The journal entry is shown below for better understanding:

Cash A/c Dr XXXXX

     To Common stock XXXXX

     To Additional Paid-in capital - in excess of  par XXXXX

(Being cash is received)

So, it would not impact the total liabilities

7 0
2 years ago
The financial statements of Trenton Office Supply include the following​ items: 2019 2018 Cash $ 46 comma 500 $ 43 comma 000 Sho
Juli2301 [7.4K]

Answer:

1.21

Explanation:

Current Ratio = Current Asset / Current Liabilities

= (Cash + Shortminusterm Investments + Net accounts receivable + Inventory) / Current Liabilities

= ( 46500 + 34000 + 102000 + 129000) / 257000

= 1.21

7 0
2 years ago
Read 2 more answers
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