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3 years ago

When the Fed is acting as fiscal agent for the Treasury, it will

Business

1 answer:

Mashcka [7]3 years ago

5 0

Answer:

b. receive and process bids for Treasury securities in preparation for the Treasury's auction of securities.

Explanation:

The Fed and their regional banks are authorized by the Federal Reserve Act of 1913 to act as fiscal agents if the Secretary of the Treasury requires them to do so. Theoretically, this shouldn't be a normal activity, it should only happen on demand of the Secretary of the Treasury.

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Wagon Department Store had net credit sales of $16,000,000 and cost of goods sold of $15,000,000 for the year. The average inven

miv72 [106K]

Answer:

7.5 times

Explanation:

Inventory turnover = $\frac{Cost \: of\: goods\: sold}{Average\: Inventory}$

We have been provided that,

Cost of goods sold = $15,000,000

Average inventory for the year = $2,000,000

Therefore, Inventory Turnover ratio = $\frac{15,000,000}{2,000,000}$

= 7.5 times

It means on an average how many times the inventory is sold, and replaced during the period.

8 0

3 years ago

Roberto Company uses a perpetual inventory system. On December 1, the company purchased $3,300 of merchandise for cash. Complete

Montano1993 [528]

Answer:

December 1, 202x, merchandise purchased for cash

Dr Merchandise inventory 3,300

Cr Cash 3,300

Explanation:

When a company uses a perpetual inventory system, any purchases or sales are recorded directly using the appropriate inventory account. When a company uses a periodic inventory system, you should use a purchase account instead.

8 0

2 years ago

In order for Hope Springs to effectively sell its bottled water, the company needs to be effective at ________, which is the pra

emmainna [20.7K]

Answer: Relationship selling

Explanation: In simple words, it refers to the strategy in which the seller focus on the communication and interaction between the buyer and seller rather than the product price and qualities.

It is done with the objective of gaining customer loyalty and making the customer base strong and rigid. It is implemented on existing markets and not on the potential customer base.

Hence from the above we can conclude that the correct answer is relationship selling.

7 0

2 years ago

Angelo Company reacquired 26,000 shares of its common stock for $16 per share on June 1. On July 1 they sold 7,000 treasury shar

aev [14]

Answer:

$22,000 Credit balance

Explanation:

Calculation to determine the ending balance

First step is prepare the Journal entries

Dr Treasury stock $416,000

Cr Cash $416,000

(26,000 shares*$16 per share)

Dr Cash $161,000

(7,000*$23)

Cr Teasury stock $112,000

($16 per *7,000)

Cr Additional Paid-in Capital $49,000

($161,000-$112,000)

Dr Cash $117,000

(9,000*$13)

Dr Additional Paid-in Capital $27,000

($144,000-$117,000)

Cr Teasury stock $144,000

($16*9,000)

Now let calculate the Ending balance

Ending balance=-$49,000+$27,000

Ending balance=-$22,000 Credit balance

Therefore the Ending balance is $22,000 Credit balance

4 0

2 years ago

What is investment firms?

Anvisha [2.4K]

Answer:

An investment firm or fund is a partnership, trust or corporation that “pools” money from shareholders and invests it in the appropriate security instruments and multiply investment money.

3 0

2 years ago