All of the following are economic institutions EXCEPT

On March 19, 2015, Karen dies and leaves Larry an insurance policy with a face value of $100,000. Karen is Larry's sister, and L

Paladinen [302]

Answer:

$3,250

Explanation:

Calculation to determine How much income must Larry report for the current year

Current year income=$13,250-$10,000

Current year income=$3,250

Therefore How much income must Larry report for the current year is $3,250

8 0

3 years ago

On January 10, 2017, a man in Lebanon, Virginia, frustrated with the DMV bureaucracy, paid his DMV bill with 300,000 pennies tha

4vir4ik [10]

Answer:

the requirements are missing, so I looked for them:

a. Money supply.
b. Deposits.
c. Total reserves.
d. Excess reserves.

a. $0

the coins are part of M1 money supply already, so it will not change it.

b. $3,000.

the DMV should deposit the pennies in their account account, therefore, total bank deposits will increase by 300,000¢ /100 = $3,000

c. $3,000

since bank deposits increase by $3,000, total reserves also increase by $3,000

d. $2,790

excess reserves = total reserves - required reserve ratio = $3,000 - ($3,000 x 7%) = $2,790

3 0

2 years ago

Suppose that a worker in Agland can produce either 10 units of organic grain or 2 units of incense per year, and a worker in Zen

dybincka [34]

Answer:

D) or E) (are this the same?) 50 units of grain and 130 units of incense

Explanation:

Agland has an advantage producing Organic grain, and Zealand producing Incense, So:

If Agland specialices in producing organic grain it would produce with 20 workers 200 units of grain a year.

If Zealand specialices in producing Incense, it would produce with 10 workers 150 units of incense a year.

This gives a Total combined output of 200 units of grain and 150 unit of incense a year.

Given that the total current output of the two countries is 150 units of grain and 20 units of incense it would increase in 50 units of grain and 130 units of incense.

8 0

2 years ago

In examining its monthly bank statement, a company discovers that that its account was credited $30 for interest earned. The ent

Delvig [45]

Answer:

Added to Cash Book Balance in Bank Reconciliation Statement

Explanation:

Bank Reconciliation Statement BRS is made to correct for the mismatch between bank balance as per cash book & bank balance as per pas book.

If account has been credited (added) with $30 for interest earned, discovered later i.e not recorded in cash book : The amount has been added in passbook , but not in cashbook.

So, to match the difference : Interest earned but not recorded = $30 will be added to 'Favourable Debit balance as per cash book' , to achieve 'Favourable Credit balance as per pass book' in the BRS.

6 0

3 years ago

A manufacturing company that produces a single product has provided the following data concerning its most recent month of opera

ZanzabumX [31]

Answer:

$71,240

Explanation:

The computation of the total gross margin under absorption costing is shown below:

As we know that

Gross Margin = Sales - Variable Manufacturing Cost - Fixed Manufacturing Overhead For Units Sold

Sales (2,740 units × $131) $358,940

Less Manufacturing Costs

Direct Materials (2,740 units × $44) $120,560

Direct Labor (2,740 units × $19) $52,060

Variable Manufacturing Overhead (2,740 units × $13) $35,620

Fixed Manufacturing Overhead ($85,260 ÷ 2,740 units ÷ 2,940 units) $79,460

Gross Margin $71,240

We simply applied the above formula

6 0

3 years ago