A trial balance strategy would a bookkeeper utilizes to make sure each column of debits and credits has similar totals.
Credit is normally described as an agreement between a lender and a borrower. credit additionally refers to a person's or commercial enterprise's creditworthiness or credit score records. In accounting, credit may additionally both lower belongings or growth liabilities in addition to decreasing fees or increase sales.
A credit score balance for your billing declaration is a quantity that the cardboard issuer owes you. credit is brought to your account each time you make a price. A credit score is probably brought while you go back to something to procure together with your credit score card.
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Answer: $337,869.73
Explanation:
Find out the future value of $1,000 given an interest rate of 7.1%. If this amount is less than the future value of $210,000, the difference is added to the final payment to come up with the balloon payment.
The APR needs to be made periodic:
= 7.1% / 12
The $1,000 payment is an annuity so this can be calculated as:
= Annuity * ( ( 1 + rate) ^ number of periods - 1) / rate
= 1,000 * ( ( 1 + 7.1/ 12%) ²⁴⁰ - 1) / 7.1/12%
= $527,297.83
Future value of $210,000
= 210,000 * ( 1 + 7.1/ 12%) ²⁴⁰
= $865,167.56
Balloon payment will be:
= 865,167.56 - 527,297.83
= $337,869.73
Answer:
The answer is D) will raise disposable income and raise spending
Explanation:
When taxes are cut disposable income increases as there is less income used to pay taxes. If there is a higher amount of disposable income available then spending will increase as well as spending appetite.
Cutting taxes is a easy way to stimulate spending in an economy.
The correct answer is therefore D) will raise disposable income and raise spending.
Cutting taxes can also increase aggregate demand which can lead to higher economic growth as well.
Answer:
The money multiplier and money supply for this banking system is 10 and $1,000 billion respectively
Explanation:
The computation of the money multiplier and the money supply is shown below:
As we know that
Money multiplier is
= 1 ÷ required reserve ratio
= 1 ÷ 0.10
= 10
So, the money supply is
= Total Reserves × Money Multiplier
= $100 billion × 10
= $1,000 billion
hence, the money multiplier and money supply for this banking system is 10 and $1,000 billion respectively
Answer: $7200
Explanation:
From the question, we are informed that most home insurance policies cover jewelry for $1,000 and silverware for $2,500 unless items are covered with additional insurance. If $4,700 worth of jewelry and $6,000 worth of silverware were stolen from a family.
The amount of claim that would not be covered by the insurance will be:
= ($4,700 - 1,000) + ($6,000 - 2,500)
= $3,700 + $3,500
= $7,200
