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vampirchik [111]
2 years ago
14

Sagan Co. had these transactions during the current period.

Business
1 answer:
Pavel [41]2 years ago
6 0

Answer:

The journal entries are shown below:

Explanation:

The journal entries are as follows

On June 12

Cash $300,000

        To  Paid-In Capital in Excess of Par- Common Stock $220,000

         To Common Stock $80,000    (80,000 shares × $1)

(Being the issuance of the common stock is issued and the remaining balance is credited to the paid in capital)

On July 11

Cash $318,000   (3,000 shares × $106)

   To  Preferred Stock $300,000  (3,000 shares × $100)

   To  Paid-In Capital in Excess of Par - Preferred Stock $18,000

(Being the issuance of the preferred stock is issued and the remaining balance is credited to the paid in capital)

On Nov 28

Treasury Stock $9,000

    To Cash $9,000

(Being the treasury stock is purchased)

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T-bills are offered in what monetary increment? $1 $10 $100 $1000
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$1000 is the correct answer.

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David Smith is an assistant professor at Bumble University (Home of the Fighting Bees!!). David's department chair, Ronald Doe,
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A

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When government is trying to raise tax revenue, it sometimes attempts to target higher-income people because they are in a bette
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Answer: The labor supply curve for a wealthy individual is usually more elastic than a poor person's labor supply curve

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2 years ago
The money multiplier equals:________.
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Answer: B. 1/R, where R represents the reserve ratio for all banks in the economy.

Explanation:

The Money Multiplier is the money that Banks generate given a certain RESERVE REQUIREMENT/RATIO.

A Reserve Requirement is money that the Central Bank requires that Banks do not loan out and instead keep in reserve.

For example, if the reserve rate is 10% and a bank has $10 they can only loan out $9.

Assuming they loan out $9 then they created $19 in the economy because their customers still own the original $10 but now they have also given loans of $9. The people who take the loans then deposit it in another bank. That bank would keep $0.90 in reserve and loan out $8.10 meaning that $27.10 now exists in the economy.

The process goes on and on until it gets to $100.

A simpler way to get to the final figure is to divide 1 by the reserve requirement = 1/r which is the money multiplier.

Using the above example, that would be 1/0.1 which is 10.

Multiplying this 10 by the initial deposit of $10 will give you that same $100.

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