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mixas84 [53]
2 years ago
6

Imagine that Kristy deposits​ $10,000 of currency into her checking account deposit at Bank A and that the required reserve rati

o is​ 20%. Refer to the scenario above. As a result of​ Kristy's deposit, checking account deposits in the banking system as a whole​ (including the original​ deposit) could eventually increase up to a maximum of
Business
1 answer:
yarga [219]2 years ago
7 0

Answer: $50,000

Explanation:

Deposit = $10,000

Required reserve ratio (RR) = 20%

HERE, the bank deposit reserve = $10,000

Maximum checking account deposit :

(1 ÷ required reserve ratio) × deposit reserve

(1 ÷ 0.2) × $10,000

5 × $10,000 = $50,000

Therefore, checking account deposits in the banking system as a whole​ (including the original​ deposit) could eventually increase up to a maximum of $50,000

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Which of the following BEST represents a mission​ statement? A. Our goal is to honor and empower wounded warriors. B. We strive
BabaBlast [244]

Answer:

B. We strive to be the worldwide leader in sharing delicious tastes and creating joyful memories

Explanation:

There are two concepts i.e mission and vision. The mission statement is the statement in which it talks about the company goals and objective that represent the present condition of which market should be targeted, its geographical location, etc

While on the other hand the vision statement refers to position of the company in the future. It is always for the long term as it is always thinking for the future where the company what to be.

Based on the above explanation, the option B is correct as it depicts the mission statement.

4 0
3 years ago
E3-18 Comparing cash and accrual basis accounting and applying the revenue recognition principle Momentous Occasions is a photog
dusya [7]

Answer:

Momentous Occasions

a. Revenue of $1,000 is recognized on April 2, though the cash receipt is recorded on March 3 as deferred revenue.  This means that the recognition occurred on a separate date from when the cash was received.

b. Revenue of $4,100 will be recognized on the date the party is held and not on the February 28 date when the cash was received.  This means that the recognition occurred on a separate date from when the cash was received.

Explanation:

Momentous Occasions is required to recognize revenue on the date the service is performed and not when the cash is received in accordance with the accrual concept, unless it chooses to use the cash basis as a small business.

4 0
3 years ago
The application of overhead has resulted in a $5,600 credit balance in the factory overhead account, and this amount is not mate
FromTheMoon [43]

when manufacturing overhead has a credit balance, overhead is overapplied. Overapplied overhead means that the overhead assigned to work in process is greater than the overhead incurred. Also, since the amount is immaterial, it should be closed in cost of goods sold.

The adjusting entry for the overapplied over-head is:

b. debit factory overhead $5,600; credit cost of goods sold $5,600.

After posting this entry the factory overhead account will have a zero balance.

Hope it helps!

4 0
3 years ago
An individual who thinks technology’s role in the workplace is always good is sometimes called a(n)​
WINSTONCH [101]

Answer: utopian

Explanation:

An utopian is an individual who thinks technology’s role in the workplace is always good. An utopian simply wants everything to be perfect and believes that technology plays a vital role in the organization.

The utopian believes that technology can help speed up efficiency at workplace and increase output.

6 0
3 years ago
Decision support systems ____.a.might support a decision maker in only one or two of the problem-solving phases support optimiza
____ [38]

Answer:

all of the above

Explanation:

<u>Decision support systems</u> is a computer system that uses information systems. <em>The main objective</em> of this program is to assist in organizational decision making. To be enabled for this function, the system operates using a large amount of data, which converts information and compiles the most relevant information to provide existing alternatives that assist the effective decision making process.

4 0
3 years ago
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