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Solnce55 [7]
2 years ago
13

On January 10, 2017, a man in Lebanon, Virginia, frustrated with the DMV bureaucracy, paid his DMV bill with 300,000 pennies tha

t he carted into the DMV office in five wheelbarrows. The DMV had to count all these pennies and deposit them into the DMV bank account. After the DMV deposit and assuming a reserve requirement of 7 percent, calculate the initial change in
Business
1 answer:
4vir4ik [10]2 years ago
3 0

Answer:

the requirements are missing, so I looked for them:

  • a. Money supply.
  • b. Deposits.
  • c. Total reserves.
  • d. Excess reserves.

a. $0

the coins are part of M1 money supply already, so it will not change it.

b. $3,000.

the DMV should deposit the pennies in their account account, therefore, total bank deposits will increase by 300,000¢ /100 = $3,000

c. $3,000

since bank deposits increase by $3,000, total reserves also increase by $3,000

d. $2,790

excess reserves = total reserves - required reserve ratio = $3,000 - ($3,000 x 7%) = $2,790

You might be interested in
Which are examples of copyrighted online materials? Check all that apply. an article from an Internet magazine lyrics for a song
agasfer [191]

Answer:

The correct options are;

Photos taken by a student in his blog

An illustration sold by an artist on her website

An excerpt from a novel published in 1913

Explanation:

With the copyright law the holder of a copyrighted material has the exclusive authority to grant permission to others to create from, copy, distribute, or display in public, the copyrighted material.

A copyright is said to have expired and to be in public domain (with automatic permission to use) when it has been up to 120 years since it was created. Government created material are not covered by the copyright law and can be used

Copyright material can only be used without the express permission of the copyright owner when it is covered by the TEACH Act of the usage must be taken as "fair use"

Therefore,

1) photos taken by a student in his blog

2) An illustration sold by an artist on her website

3) An excerpt from a novel published in 1913  are copyrighted online materials.

7 0
3 years ago
Read 2 more answers
has an inventory of 500 obsolete remote entry keys that are carried in inventory at a manufacturing cost of $ 80 comma 500. Prod
Slav-nsk [51]

Answer:

Remote enter keys shall be further processed in order to decrease the amount of loss by $11,000.

Explanation:

As in the given case,

Number of units = 500

Carrying cost = $80,500

Cost per unit = 80,500/500 = $161

In case of scrap for the price of $4,000

Scrap price per unit = $4,000/500 = $8

Thus, loss per unit in case of scrap = $161 - $8 = $153

In case inventory is further processed

Total cost = $80,500 + $19,000 = $99,500

Cost per unit = $99,500/500 = $199

Revenue earned = $34,000

Revenue per unit = $34,000/500 = $68

Thus, loss per unit in case of further processing = $199 - $68 = $131

Therefore the inventory shall be processed in order to save the total loss of $153 - $131 = $22 per unit

Total loss saved = $22 \times 500 = $11,000

3 0
3 years ago
Consultative selling emphasizes need​ identification, which the salesperson achieves​ by: A. asking the client questions and lis
Mrrafil [7]

Answer:

Letter A is correct

Explanation:

In consultative selling, the salesperson's function is not only to sell products, in this type of sales strategy, the salesperson must adapt a set of techniques that work together to provide the sales service together with a consultancy, that is, listening to the customer. , answer their needs and ask questions so that communication with the customer goes smoothly so that the salesperson can get optimal feedback and then design an appropriate sales strategy that will be ideal for that customer.

8 0
3 years ago
What are durable goods?
JulsSmile [24]
They're the opposite of perishable goods. 

Meaning, that durable goods can be left on the shelf for a while, and don't need to be imediately consumed.

Hope this helps!
6 0
3 years ago
On January 1, 2021, Laramie Inc. acquired land for $9.6 million. Laramie paid $2.9 in cash and signed a 6% note requiring the co
Alexxandr [17]

Answer:

$9.6 million

Explanation:

The amount Laramie would record in its books of account in respect of the land acquisition cost is the sum of the cash paid now and the notes payable .

That effectively gives acquisition cost of $9.6 million ($2.9 million+$6.7 million).

The interest payable on the notes payable of $6.7 million would be treated as expense in the income statement of years 2021 and 2022 respectively without being added to the acquisition cost since it is a revenue expense and should not be capitalized.

6 0
3 years ago
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