Answer:
$500
Explanation:
Calculation for amount that the first bank will be short of reserves, after the check has been cleared
Using this formula
Reserve shortage=Loan granted(check)-Excess reserves
Let plug in the formula
Reserve shortage=$1,000-$500
Reserve shortage=$500
Therefore the first bank will be short of reserves, after the check has been cleared, in the amount of:$500
Answer:
c.Scotty did not itemize deductions in 2018
Explanation:
Itemized deductions can be defined as a form of eligible expenses in which individual taxpayers can claim on federal income tax returns which will in turn reduce their taxable income, and this is said to be often claimable in place of a standard deduction, only in a situation where it is available which is why ITEMIZED DEDUCTIONS are expenses that are allowed by the IRS that can decrease your taxable income because when an individual itemize on his or her tax return, such individual can opt to pick and choose from the multitude of individual tax deductions out there instead of taking the flat-dollar standard deduction.
Therefore based on the Scotty scenario the statements that best explains why Scotty is not required to report the reimbursement in gross income is :Scotty did not itemize deductions in 2018
Answer:
prepaid expense 15,500 debit
prepaid insurance 15,500 credit
Explanation:
<em>The amount of unexpired insurance will be the ending balance of the account</em>
4,500 debit
+ 16,600 premium paid
+/- adjustment
5,600 ending
4,500 + 16,600 - 5,600 = 15,500
<span>the real exchange rate is greater than one and arbitrageurs could profit by buying oranges in Morocco and selling them in the U.S.</span>
c a type of marchandiser that buys merchadise from a manufacture
