Legal reserve requirements are changed ____________

The following data were accumulated for use in reconciling the bank account of Creative Design Co. for August 20Y6: Cash balance

frez [133]

Answer:

bank statement 56,300

Checks outstanding (25,390)

Deposit in transit not recorded by bank 13,325

Adjusted bank statement 44,235‬

Cash account 42,920

Bank debit memo for service charges (35)

check register error: 1,350

Adjusted cash account 44,235

Explanation:

The procedure is to adjust for the unknow information and mistake of each party.

The bank is unaware of the check outstanding and deposit in transit

The company thanks to the banbk statement gets information about a mistake in his check register as it was posted for 1,500 when it should be 150.

6 0

4 years ago

The chapter says that for consumers as a group, Quiznos sandwiches are normal goods and Subway sandwiches are inferior goods. B

svetlana [45]

Answer:

confused

Explanation:

The goods whose demand decreases in the market when the consumer income rises are known as inferior goods.

The goods whose demand increases in the market when the consumer income rises are known as normal goods.

Thus, the reasoning of the student is confused as the classification of the goods on the basics of normal or inferior depends on response of the demand when there is a change in consumer's income. Thus, the student's own perception about such classification is confused.

8 0

3 years ago

Evaluate South Africa's approach to redistribution of wealth and income

harina [27]

Answer:anser is

Explanation:

E

6 0

3 years ago

Calculate the required rate of return for Mercury Inc., assuming that investors expect a 5% rate of inflation in the future. The

My name is Ann [436]

Answer:

Option C is correct.

The required rate of return for Mercury Inc., assuming that investors expect a 5% rate of inflation in the future is 18%.

Explanation:

Real risk free rate = 3%

Inflation Premium = 5%

Nominal risk free rate Rf = Real risk free rate + Inflation Premium = 3% + 5% = 8%

Market risk premium (Rm –Rf) = 5%

Beta = 2

As per CAPM, required rate of return = Rf + beta * (Rm – Rf) = 8% + 2 * 5% = 18%

8 0

3 years ago

In divisional income statements prepared for Lemons Company, the Payroll Department costs are allocated to user divisions on the

AlladinOne [14]

Answer:

Lemons Company

a. Total amount of payroll checks = 920

amount of purchase requisitions = 12,500

b-a Residential Commercial Government Total

Payroll $32,832 $19,152 $10,944 $62,928

b-b Purchasing

Costs $17,688 $4,717 $7,075 $29,480

c. Residential's service department charge is __higher__ than the other two divisions because Residential is a user of service department services. Residential has many employees on a weekly payroll, which translates into a __higher__ number of payroll transactions.

Explanation:

a) Data and Calculations:

Cost of the Payroll Department = $62,928

Cost of the Purchasing Department = $29,480

Residential Commercial Government Total

Contract

Sales $2,000,000 $3,250,000 $2,900,000 $8,150,000

Weekly payroll

(52 weeks per year) 400 250 150 800

Monthly payroll 80 30 10 120

Total 480 280 160 920

Number of purchase

requisitions per year 7,500 3,000 2,000 12,500

a. Total amount of payroll checks = 920 (800 + 120)

Total amount of purchase requisitions = 12,500

b-a Residential Commercial Government Total

Payroll $32,832 $19,152 $10,944 $62,928

(480/920 * $62,928) (280/920 * $62,928) (160/920 * $62,928)

b-b Purchasing

Costs $17,688 $4,717 $7,075 $29,480

(7,500/12,500 * $29,480) (2,000/12,500 * $29,480) (3,000/12,500 * $29,480)

Total $50,520 $23,869 $18,019 $92,408

Percentage 54.7% 25.8% 19.5% 100%

4 0

3 years ago

Legal reserve requirements are changed _____________. (lo2)