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erastovalidia [21]
3 years ago
13

Suppose that in 2014, currency in circulation was $950 billion, required reserves were $60 billion, and excess reserves were $84

0 billion. At that time, the value of open market operations by the Federal Reserve was $70 billion. The monetary base was
Business
1 answer:
Studentka2010 [4]3 years ago
4 0

Answer: $1,850 billion

Explanation:

The following were given in the question:

Currency in circulation = $950 billion

Required reserves = $60 billion

Excess reserves = $840 billion

Open market operations = $70 billion

The monetary base will be the value of all the currency in circulation plus the reserves that is held by the banks and this will be:

= $950billion + $60billion + $840billion

= $1,850 billion

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On December 31, the Income Summary account of Madison Company has a debit balance of $111,000 after revenue of $117,000 and expe
loris [4]

Answer:

a) See the image attached for the sheet of closing entry

b) New balance = (174000-111000-12000) = 51000

8 0
3 years ago
Under what circumstance would agency conflict be most likely to increase? When owners are very close to the business. When owner
IRINA_888 [86]

Answer:

When owners are separated from the business

Explanation:

Agency conflict arises when ownership is separated from management and management have to take decision to maximize wealth of owner instead of themselves.

Hence when owners are separated from the business is the correct answer.

7 0
3 years ago
Net credit sales for the year are $750,000. The end of year accounts receivable balance is $160,000. The allowance for doubtful
alexandr402 [8]

Answer: $3000

Explanation: Allowance for doubtful accounts is the contra account to accounts receiveable when all the bad debts need to be accounted for. The bad debts reduces the accounts receivable line but all bad debts are actually deducted from the allowance for doubtful accounts.

The allowance for doubtful accounts for that year is calculated as 5% of the accounts receivable balance. This amounts to $8000 (160000 x 5%) before bad debts have been accounted for. Allowance for doubtful accounts moves in the opposite direction as accounts receivable because it is a contra account to this line item. At the end of the year before year end closing entries are done, and after the bad debts have been accounted for, the balance on the allowance for doubtful accounts is $5000.

This means that bad debts for that year is:

8000 (balance before bad debts have been accounted for)

- 5000 (balance after bad debts have been accounted for)

= $3000.

5 0
3 years ago
The cost allocation base​ ________. A. is a systematic way to link an indirect cost or group of indirect costs to cost objects B
ycow [4]

Answer:

The correct answer is letter "A": is a systematic way to link an indirect cost or group of indirect costs to cost objects.

Explanation:

Cost allocation is the method of assigning costs to cost objects. Cost objects are items or activities that are preferable to have their own costs allocated such as a product or a department within a firm. Cost allocation is a measure of profitability at the moment of evaluating a subsidiary. It is mainly used for financial reporting purposes.

6 0
3 years ago
Activity-Based Product Costing
nikklg [1K]

no matteehow much times i read this is still cant process this

5 0
2 years ago
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