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irina1246 [14]
3 years ago
8

When a bank has excess reserves and the bank loans those excess reserves to other banks that need to borrow to meet their reserv

e requirements, the excess reserves that are loaned are called
Business
1 answer:
omeli [17]3 years ago
5 0

Answer:

Federal funds.

Explanation:

The Federal Reserve System (the 'Fed) was created by the Federal Reserve Act, passed by Congress in 1913. The Fed began operations in 1914. It was founded by President Woodrow Wilson under the Federal Reserve Act, which was aimed at backing each banks in order to put a definitive end to the bank panics of the 1800s.

Like all central banks, the Federal Reserve is a government agency that is saddled with the following responsibilities;

- Controlling the issuance of currency in United States of America (it promotes public goals such as economic growth, low inflation, and the smooth operation of financial markets).

- Providing banking services to all the commercial banks in the country (the Federal Reserve is the "lender of last resort).

- Regulating banking activities (it has the power to supervise and regulate banks).

When a bank has excess reserves and the bank loans those excess reserves to other banks that need to borrow to meet their reserve requirements, the excess reserves that are loaned are called federal funds.

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In 2007, Terry Inc. provided the following items in their footnotes. Their cost of goods sold was $22 billion under FIFO costing
nikdorinn [45]

Answer:

$22.2 billion

Explanation:

Calculation to determine How much would they report as LIFO cost of goods sold

Cost of goods sold=$22 billion + ($0.8 billion ­ $0.6 billion)

Cost of goods sold=$22 billion + $0.2 billion

Cost of goods sold= $22.2 billion

Therefore How much would they report as LIFO cost of goods sold would be $22.2 billion

7 0
3 years ago
Hudson Co. reports the contribution margin income statement for 2015. Assume sales remain constant at 10.000 units.HUDSON CO. Co
gizmo_the_mogwai [7]

Answer:

Results are below.

Explanation:

Giving the following information:

Selling price= $244

Unitary variable cost= 195 - 8= $187

Fixed costs= 327,600 + 37,000= $364,600

<u>We need to determine the new pre-tax income:</u>

Sales= 244*10,000= 2,440,000

Total variable cost= 187*10,000= (1,870,000)

Total contribution margin= 570,000

Fixed costs= (364,600)

Pre-tax income= 205,400

5 0
3 years ago
Bethany and Claiborne want to form a limited liability company (LLC) to manage their business, DoReMi Music. Like corporations,
Ivenika [448]

Answer:

Nine jurisdiction which are California, District of Columbia, Florida, Idaho, Iowa, Nebraska, New Jersey, Utah, and Wyoming

Explanation:

The Uniform Limited Liability Company Act (ULLCA) was an act that was formed in 1995 and was amended in 1996 and 2006 which allows small businesses enjoy tax advantage of a partnership.

6 0
3 years ago
Despite the danger to his career what did edward r. murrow, fred friendly and the staff at cbs accomplish with their truthful re
Liula [17]

Murrow had become a big superstar from his WWII reporting, so he was a big ratings asset for CBS. In reserve to See it Now, he also did a celebrity interview show called Person to Person. Both performances got high ratings by today's criteria, but Person to Someone was more popular.

<h3>How did Edward R Murrow end his broadcast?</h3>

The blitz gave Murrow the signature phrases that he used to open and close his broadcasts. He started by saying “This is London.” He completed his reports with “Goodnight and good luck.” That was a phrase Londoners used to end their discussions when they were not sure they'd be able to see each other the next day.

<h3>Who was Edward R. Murrow ?</h3>

Edward Roscoe Murrow was an American broadcast correspondent and war correspondent. He first attained prominence during World War II with a series of live radio broadcasts from Europe for the news section of CBS.

To learn more about Edward Roscoe, refer

brainly.com/question/14433468

#SPJ4

7 0
2 years ago
A company earned net income of $ 80 comma 000 during the year ended December​ 31, 2016. On December​ 15, the company declared th
saw5 [17]

Answer:

Retained Earnings increased $28,650 in 2016.

Explanation:

The total increase in Retained Earnings account = Net income = $80,000;

The total decrease in Retained Earnings account = Dividend paid to common shares + Dividend paid to preferred shares = Dividend per common share x Number of common share outstanding + % dividend on preferred stock x par value of preferred stock x number of preferred stock outstanding = 0.75 x 65,000 + 2% x (130,000 / 13,000) x 13,000 = $51,350;

So, Net effect on Retained Earnings Account =  $80,000 - $51,350 = $28,650 ( increase).

5 0
3 years ago
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