Answer:
The correct answer is C
Explanation:
Money is the term which is described as something which serves as exchange medium, store of value and a unit of accounting. It is a exchange medium in the terms, that the person will agree to receive it by making a transaction.
In short, when depositing the money into any financial institution like banks, then this states the store of value function of the money.
Therefore, the one which is not the function of money is that it has the operations in the open market.
Answer:
Beaver Construction
1. Journal Entry:
April 1, 2015:
Debit Equipment $50,400
Credit Cash Account $50,400
To record the purchase of new equipment for cash.
2. December 31, 2015:
Debit Depreciation Expense-Equipment $5,400
Credit Accumulated Depreciation - Equipment $5,400
To record the depreciation expense for the period.
3. Adjusted balances of Accumulated Depreciation and Depreciation Expense at December 31, 2015:
a) Accumulated Depreciation - Equipment
Beginning balance $0
Depreciation Expense $5,400
Ending balance $5,400
b) Depreciation Expense-Equipment $5,400
Explanation:
The depreciation expense for equipment is $5,400 ($600 x 9) since the depreciation charge for each month is $600. The equipment was used from 9 months from April 1 to December 31 in 2015. This implies that only $5,400 will be charged to Income Statement for the period.
Answer:
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Answer:
£30 million
Explanation:
Banks net exposure serves as the the money currently owned by the bank.
Credit to bank;
Loans to corporate customers is bank's money since customers will repay the loan back to the bank even with interest = £120 million
Total credit owned by the bank =
£120 million
Debit;
Deposit owned to customers = £70 million (It is customers money not bank's)
Money sold forward by bank is also going out of banks pocket (debit) =£20 million
Total debt owned by bank = £70 million+£20 million = £90 million
Bank's net exposure = Total credit - debt owned by bank
Banks net exposure = £120 million - £90 million
= £30 million
If this question has the same set of choices like the other ones posted here, then the answer would be letter C. 529 plan- money you save.
