1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
masya89 [10]
3 years ago
9

The manager of the bank where you work tells you that your bank has $6 million in excess reserves. She also tells you that the b

ank has $400 million in deposits and $362 million in loans. Given this information you find that the reserve requirement must be
Business
1 answer:
sukhopar [10]3 years ago
3 0

Answer and Explanation:

The computation of the reserve requirement is given below;

Required reserves is

= Deposits - loans - excess reserves

= $400 - $362 - $6

= 32 million

And,  

Required reserve ratio is

= Required reserves ÷ Deposits

= 32 ÷ 400

= 8%

In this way, it should be determined so that the correct value & percentage could come

You might be interested in
which of the following is not one of the six functional areas of business that sits on a foundation of business law?
mina [271]

Answer:

state and federal taxation

Explanation:

8 0
2 years ago
Splish Corporation has retained earnings of $721,100 at January 1, 2020. Net income during 2020 was $1,562,700, and cash dividen
Vitek1552 [10]

Answer and Explanation:

The preparation of the retained earnings statement is presented below:

Opening retained earning balance $721,100

Add: prior period adjustment $86,370

Add: net income $1,562,700

Less: dividend paid $79,000

Ending retained earnings $2,291,170

The above items would be added and deducted that increase and decrease the retained earnings balance

4 0
3 years ago
Norred Corporation has provided the following information: Cost per Unit Cost per Period $ 121,500 $ 44,500 Direct materials Dir
svetoff [14.1K]

Answer:

$134,300

Explanation:

The computation of total manufacturing  overhead is shown below:-

Variable manufacturing overhead = Variable manufacturing overhead cost per unit × Units produced

= $1.60 × 8,000

= $12,800

Total Manufacturing overhead = Variable manufacturing overhead + Fixed manufacturing overhead

= $12,800 + $121,500

= $134,300

So, for computing the total manufacturing overhead we simply applied the above formula.

5 0
3 years ago
Detailed information which expands upon main areas of your business plan should be included in which portion of the plan?
Nostrana [21]

Appendices are detailed information that expands upon main areas of your business plan that should be included in which portion of the plan.

A business plan is a document that defines in detail an employer's goals and how it plans to gain its goals. A business plan lays out a written roadmap for the firm from advertising and marketing, monetary, and operational standpoints. both startups and hooked-up companies use commercial enterprise plans.

A business plan is a properly written document containing the goals of a business, the methods for reaching the one's dreams, and the timeframe for the success of the desires.

Correct plans are normally notably certain and consist of data on all elements of the business, which include the enterprise, advertising, finance, employees, and numerous running procedures. They may be unique, talk to all company employees, and require commitment from absolutely everyone.

Learn more about a business plan here brainly.com/question/1958071

#SPJ4

6 0
2 years ago
A corporation issued 100 shares of its $5 par value common stock in payment of a $1,800 charge from its accountant for assistanc
KIM [24]

Answer:

A $1,300 Credit to Paid in Capital in excess of par Common stock.

Explanation:

Common Stock value=Shares* Par value per share

Common Stock=100*$5

Common Stock=$500.

First we will prepare journal Entry:

Account                                    Debit                                Credit

Organization Expense              $1,800

Common Stock                                                                 $500

Paid in Capital in excess                                                  $1,300

of par Common stock.

So Correct option is:

A $1,300 Credit to Paid in Capital in excess of par Common stock.

3 0
3 years ago
Other questions:
  • Diverse Diversions, Inc., makes video, games. Ember buys a copy of Final Infinity. Inside the package is a shrink-wrap agreement
    9·1 answer
  • Boney Corporation processes sugar beets that it purchases from farmers. Sugar beets are processed in batches. A batch of sugar b
    10·1 answer
  • Select the correct items that match the description. Distributions of cash from a corporation to its stockholders. select an app
    11·1 answer
  • Probett's Auto Body Repair Shop had revenues that averaged $90,000 per week in April and $80,000 per week in May. During both mo
    15·1 answer
  • I need a paragraph using balance, deposit, withdraw, fixed expenses, variable expenses, profit, Interest, budget, financial inst
    10·1 answer
  • You consider purchasing a new computing system, including networking, for your sales force for $112,000. The system has a 6-year
    11·1 answer
  • Livebinders is an example of​ a(n) _______________.
    15·1 answer
  • In September, Jeanette Company purchased materials costing $34,400 and incurred direct labor cost of $22,100. Manufacturing over
    8·1 answer
  • What cycle time would match capacity and demand if demand is 161 units a day, there are 2 shift(s) of 446 minutes each, and work
    9·1 answer
  • Two countries trade with each other regularly. Country A has a strong economy and buys
    7·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!