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ki77a [65]
3 years ago
9

Suppose the banking system does NOT hold excess reserves and the reserve ratio is 25%. If Melanie deposits $1,000 of cash into h

er checking account, the banking system can increase the money supply by:__________
Business
1 answer:
Leviafan [203]3 years ago
3 0

Answer:

$3,000

Explanation:

Calculation for the increase the money supply

Using this formula

Increase in money supply=(Cash/Reserve ratio)-Cash

Increase in money supply=($1,000/0.25)-$1,000

Increase in money supply=$4,000-$1,000

Increase in money supply=$3,000

Therefore based on the information given the banking system can increase the money supply by $3,000

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Statement on Standards for Tax Services No. 1 establishes as a basic principle of providing tax services that the CPA:
Aleksandr-060686 [28]

Answer:

c. Must have a good faith belief that the tax return position has a realistic possibility of success if challenged by the IRS

Explanation:

Statement on Standards for Tax Services No. 1 establishes as a basic principle of providing tax services that the CPA

we know that

Giving assessment administrations is on the standard premise that it has a decent confidence conviction that the government form position can be supported whenever tested

therefore

option c is correct

c. Must have a good faith belief that the tax return position has a realistic possibility of success if challenged by the IRS

7 0
3 years ago
Pace Co. borrowed $10,000 at a rate of 7.25%, simple interest, with interest paid at the end of each month. The bank uses a 360-
mars1129 [50]

Answer:

Explanation:

Amount of interest need to paid is 30 day month

= 10000×(1.075)×30/360 = 60.42

Simple interest formula is

Interest for year is = 10000×7.5% = 750

Per month is = 750×30/360 = 60.42

8 0
3 years ago
credit cards should be used for what A. anything you want B. things you cant afford C. budgeting expenses you need to pay over t
zloy xaker [14]
Im pretty sure its C



hope this helps best of luck :)
4 0
3 years ago
3. Columbia Corporation deposited $2,000 in an account that pays 12% interest annually. If the interest is compounded continuous
dangina [55]

Answer:

should be the letter B. $22,046

8 0
3 years ago
The current sections of Culver Corporation's balance sheets at December 31, 2021 and 2022, are presented here. Culver Corporatio
natta225 [31]

Answer:

Net Cash Provided by Operating Activities is $286,000

Explanation:

                             Culver Corporation's

                    Partial Statement of Cash flows

            For the year ended December 31, 2022

<em>Cash Flow from Operating Activities</em>

Net Income                                                               $229,500

<em></em>

<em>Adjustment to reconcile net income to</em>

<em>net cash provided by operating activities</em>

Depreciation Expenses                          $40,500

(Non-cash expense)

Decrease in Accounts Receivables       $13,500

(133,500 - 120,000)

Decrease in Inventory                             $6,000

(258,000 - 252,000)

Increase in Prepaid Expenses                -$7,500

(33,000 - 40,500)

Increase in Accrued Expenses Payable $15,000

(22,500 - 7,500)

Decrease in Accounts Payable              <u>-$10,500</u>     <u>$57,000</u>

(127,500 - 138,000)

Net Cash Provided by Operating Activities           <u>$286,000</u>

4 0
3 years ago
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