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Luden [163]
3 years ago
9

Fiona deposits $2,000 into a savings account. If the Fed requires a 20 percent reserve ratio, how much of Fiona’s money can the

bank lend?
a.)$400
b.)$1,600
c.)$2,000
d.)$1,200
Business
1 answer:
Scrat [10]3 years ago
6 0

the answer is B.)$1,600

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Jumpin Corporation uses the percent-of-sales method to estimate uncollectibles. Net credit sales for the current year amount to
Zinaida [17]

Answer:

$101,500

Explanation:

Net Sales    $2,030,000

Allowance for uncollectible Accounts ($2,030,000*5%)=$101,500

The amount of uncollectible accounts to be reported in income statement shall be $101,500

7 0
3 years ago
Suppose the price level and value of the U.S. Dollar in year 1 are 1 and $1, respectively. Instructions: Round your answers to 2
Nookie1986 [14]

Answer:

0.74

Explanation:

Data provided  in the question

Price level = 1.35

According to the given situation, the computation of the new value of the dollar is shown below:-

The New value of the dollar = 1 ÷ Price level

= 1 ÷ 1.35

= 0.74074

or

= 0.74

Therefore for computing the new value of the dollar we simply applied the above formula.

3 0
3 years ago
The Mary Company primarily sells dishes, and recently purchased a cardboard box company. Mary's new cardboard box division has n
fgiga [73]

Answer: $1.50

Explanation:

Based on the information given in the question, we are informed that the variable cost of each box is $1.50 and usually has a contribution margin of $0.80 per box.

We should note that the minimum transfer price that the box division should find as acceptable will be the relevant cost. In this case, the relevant cost is given as $1.50 pee box and therefore, the minimum transfer price will be $1.50.

8 0
2 years ago
Corbel Corporation has two divisions: Division A and Division B. Last month, the company reported a contribution margin of $46,4
diamong [38]

Answer:

$5300

Explanation:

Contribution margin for Division B = Sales * Contribution margin ratio

= $243,000 * 20%

= $46,800

Total contribution margin = Division A + Division B

= $46,400 + $46,800

= $93,200

Contribution margin $93,200

Less : Traceable fixed expenses $51,100

Less : Common fixed expenses (plug) $5300

Net operating income $33,800

5 0
3 years ago
Jorge has $300 for work he performed. He expects to spend the money in the next few weeks to buy a new bike. Which type of accou
salantis [7]
The correct option is D.
Checking account is appropriate for Jorge in this situation because he plans to remove the money from his account in a few weeks time.
The major difference between saving account and checking account is that, saving account is majorly used to save and accumulate money for a medium or long time goals or for emergencies. The banks can count on the money staying in saving account for some time and a great part of it is not hold on reserve.
But a checking account is an instant access account. Money put in this account are usually hold in reserve by the banks because the owners can decided to withdraw at any time; banks can lend out money from checking accounts, so they make money on the accounts by charging fees.
4 0
3 years ago
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