The journal entry for the purchase of the stock for the trading securities portfolio is that Securities account debited and bank account credited.
Given that Slick Rocks management purchased the Sandstone stock for the trading securities portfolio instead of the available-for-sale securities portfolio.
We are required to form the journal entry that are required by the facts presented in the case.
A journal is basically a detailed account which records all the financial transactions of a business to be used for the future reconciling of accounts.
The journal entry will be as under:
Securities account debited and bank account credited. If we know that which security is being purchased then we can name that securities also.
Hence the journal entry for the purchase of the stock for the trading securities portfolio is that Securities account debited and bank account credited.
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Answer:
Which term refers to the interest the Federal Reserve Bank (Fed) charges banks for loans?
the discount rate is the interest rate that the Federal Reserve System charges banks for the loans it makes. The overnight rate or the federal funds rate is even lower, but it lasts a few hours only.
Select the charge the Fed levies on banks borrowing funds that would result in the smallest increase in the money supply.
- two percentage points above the private level
the higher the interest rate, the lower the increase in the money supply.
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Answer:
Liabilities increase and assets decrease.
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I believe the answer would be Trade Routes, however take that with a grain of salt because it may be wrong.
