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Novosadov [1.4K]
3 years ago
8

Differentiate between Central Banks and other banks​

Business
2 answers:
m_a_m_a [10]3 years ago
8 0

Commercial banks serve individuals and businesses, while central banks serve the country's banking system. They provide money transfers back and forth between banks and governmental institutions both domestically and in cases of transactions with foreign entities.

ArbitrLikvidat [17]3 years ago
6 0

Answer:

i wanna know 2

Explanation:

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Bean​ Brewers, Inc., a manufacturer of coffee​ makers, had the following​ activities, allocated​ costs, and allocation​ bases: A
aivan3 [116]

Answer: B. $438

Explanation:

Correspondence Cost = Number of letters * Predetermined cost of correspondence  

Predetermined cost of correspondence = Allocated cost/ Allocated base

= 14,000/1,600 letters

= $8.75 per letter

Northeast Office used 50 letters for correspondence.

Cost = 8.75 * 50

= $437.50

= $438

4 0
3 years ago
What is word processing
soldier1979 [14.2K]

Explanation:

Word processing software is used to manipulate a text document, such as a resume or a report. ... Creating, editing, saving and printing documents. Copying, pasting, moving and deleting text within a document. Formatting text, such as font type, bolding, underlining or italicizing.

7 0
3 years ago
Read 2 more answers
Flounder Corporation is preparing a bank reconciliation and has identified the following potential reconciling items.
nikklg [1K]

Answer:

Explanation:

The journal entries are shown below:

a. No entry passed

b. Office expense A/c Dr $38

          To Cash                             $38

(Being bank service charges paid)

c. Cash A/c Dr $32

           To Interest revenue  $32

(Being interest received)

d. No entry passed

e. Accounts receivable A/c Dr $570

         To Cash A/c                                   $570    

(Being check returned)

The deposit in transit and outstanding checks should not be recorded. So, no entry is passed.

5 0
3 years ago
Jetson Spacecraft Corp. shows the following information on its 2015 income statement: sales = $316,547; costs = $219,406; other
o-na [289]

Answer:

Net working capital addition was for 8,108 dollars

Explanation:

To solve for NWC we start form the accounting equation and then, we expand it to get the NWC expression:

Assets = Liabilies + Equity

we expend the formula

current assets + fixed assets = current liabliies + non-currnet liab + stock + RE

NWC = net working capital

being: current assets - current liabilities

(current assets - current liabilities) =  non-currnet liab + stock + RE - fixed assets

NWC = -3,283 + 5,629 + RE - 24,154

We need to solve fotr the change in Retained Earnings:

which is net income - dividends:

sales                                316,547

costs                              (219,406)

other expenses                 (8,481)

depreciation expense    (18,633)

interest expense             (14,216)

taxes                                 (15,217)

                 net income      40,594

                dividends         (10,678)

          change in RE           29,916

NWC = -3,283 + 5,629 + 29,916 - 24,154

NWC = 8,108

8 0
3 years ago
Lomani Ltd acquired two new machines for cash on 1 January 2017. The cost of machine A was $400 000, plus GST, and of machine B,
cricket20 [7]

Answer:

2017

Machine A (Dr.) $400,000

Machine B (Dr.) $600,000

Cash (Cr.) $1,000,000

2018

Depreciation Expense (Dr.) $93,000

Accumulated Depreciation (Cr.) $93,000

2019

Depreciation Expense (Dr.) $93,000

Accumulated Depreciation (Cr.) $186,000

2020

Depreciation Expense (Dr.) $93,000

Accumulated Depreciation (Cr.) $279,000

2021

Machine C  (Dr.) $420,000

Machine A (Cr.) $200,000

Cash (Cr.) $220,000

(To record trade in of machine A)

Repairs expense Machine B (Dr.) $66,000

Cash (Cr.) $66,000

(To record repairs of machine B)

2022

Depreciation Expense (Dr.) $79,450

Accumulated Depreciation (Cr.) $358,450

2023

Cash (Dr.) $300,000

Machine B (Cr.) $284,550

Gain on selling (Cr.) $15,450

Explanation:

Straight line depreciation recognize an assets carrying amount evenly over its useful life.

Straight line Depreciation = (Cost - Estimated Residual Value) / useful life

Depreciation expense for Machine A:

($400,000 - $20,000) / 10 years

= $38,000

Depreciation expense for Machine B:

($600,000 - $50,000) / 10 years

= $55,000

Depreciation expense for Machine C:

($420,000 - $20,000) / 8 years

= $50,000

Revised Depreciation of Machine B:

($314,000 -  $19,500) / 10 years

= $29,450

6 0
3 years ago
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