Answer:
D) M1 falls by $1,000, and M2 is unchanged.
Explanation:
since checking account comes under M1, a transfer would result in fail, Therefore, a transfer would result in a change in M1 but shows no effect on M2
Answer:
correct option is C) $70,000.
Explanation:
given data
chance event =75%
result of consideration to Lewis = $100,000
chance event =25%
result of consideration to Lewis = $40,000
solution
we get here amount of uncertain consideration that is
amount = (75% x $100,000) + (25% x $40,000)
amount = $85000
so that answer b that likely amount is $100,000 but here we have not an appropriate estimate of the amount is $C) $70,000
Answer:
How long does Nedra have to report the card as lost to have 100% protection against fraudulent use?
She must report the card immediately before any unauthorized withdrawals are made.
Explanation:
The card issuer expects Nedra to report that her credit card is missing immediately without wasting any time. This will prevent fraudulent practices from occurring because the card issuer will usually block the card. The purpose is to prevent identity theft from happening. After providing the necessary information that the card company may request, a new card with a new number will be issued to Nedra.
The will require him to submit a business plan and a financial plan.
Answer:
a. On September 1, paid rent on the track facility for six months at a total cost of $12,000.
September 1
Dr Prepaid rent 12,000
Cr Cash 12,000
September 30
Dr Rent expense 2,000
Cr Prepaid 2,000
b. On September 1, received $60,000 for season tickets for 12-month admission to the race track.
September 1
Dr Cash 60,000
Cr Deferred revenue 60,000
September 30
Dr Deferred revenue 5,000
Cr Revenue 5,000
c. On September 1, booked the race track for a private organization that will use the track one day per month for $2,000 each time, to be paid in the following month. The organization uses the track on September 30.
September 30
Dr Accounts receivable 2,000
Cr Revenue 2,000
d. On September 1, hired a new manager at a monthly salary of $3,000, to be paid the first Monday following the end of the month.
September 30
Dr Wages expense 3,000
Cr Wages payable 3,000