Answer:
C. Checkable deposits decline by $10 million.
Explanation:
The banks must keep a reserve of money at Central Banks, the amount is defined by the reserve ratio, 10% in this case, but the banks could keep an extra reserve of money at Central Banks, in this case it's $ 1 million, so, if the bank decides to keep that reserve it means will be less money available to checkable deposit in the same amount.
When the banks keeps reserve by his own will, the required reserve ratio is not applicable to the amount, is the same situation as if we want to keep our money in the bank, for banks, they keep money in Central Banks.
hoping having been clear.
Answer:
142.5
Explanation:
To determine the price forecast for year 2006 we must find the average price for the prior four years:
price forecast for 2006 = (100 + 120 + 140 + 210) / 4 = 570 / 4 = 142.5
The simple moving average (SMA) is just the average price for the previous years.
Answer:
Warranty Expense (Debit) $3,960
Warranty Liability (Credit) $3,960
Explanation:
The principle we apply while making entries for standard warranty is this:
The <u>estimated amount of warranty expense</u>, <em>which a company founds as a percentage of its sales from historical claims and data</em>, is taken as benchmark to accrue the warranty expense in the period when the sale is made <em>(matching principle) .</em>
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In our question, 4.5% is the estimated warranty expense.
The company then sets off the estimated warranty expense (Debit)
(<em>4.5% * $88,000 = $3,960</em>)
with the warranty liability (Credit) to entertain any claims in future.
Answer:
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Answer:
Cone Corporation
Partial Balance Sheet
As of December 31, 2018
Assets:
Current Assets:
Prepaid Rent $22,000
Investment in marketable securities $60,000
Long-term Assets:
Prepaid Rent (long-term) $22,000
Restricted Funds for Bonds $70,000
Investment in marketable securities $60,000
Liabilities:
Current liabilities:
Notes Payable $40,000
Accrued Interest Payable $32,000
Long-term Liabilities:
Notes Payable $200,000
Explanation:
Cone's assets and liabilities are re-classified according to whether they are short-term or long-term in order to present more accurately the elements of the financial statements.
