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Solnce55 [7]
3 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]3 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

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Which statement would be the best way to illustrate your excellent communication skills for the job posting?
DochEvi [55]

Answer:

the best communication skill for a job posting will be (1)written communication

(2)verbal communication

(3)non verbal communication

Explanation:

(1) written communication:  Poor writing not only makes an exchange of ideas and information less efficient, but it will also makes you look unintelligent. Learning to write well has an important side effect; because clear, readable text is also well-organized, straightforward, and concise, learning to write also teaches you to speak and to think better.

(2) verbal also called oral communication skills: Verbal communication skills are probably most important for those in sales, customer service, and public relations, anyone who has to interact face-to-face with supervisors and colleagues needs to be able to express themselves clearly and succinctly.

(3) Nonverbal communication : This includes vocal tone, eye contact patterns, body language, and more. Nonverbal communication often carries more weight than verbal communication and has a much greater impact on rapport and trust. Learn the nonverbal signals you need to present yourself well. And if you have non-standard body language (for example, if you are on the autism spectrum or have a physical disability), you will have to find ways to avoid or correct misunderstanding.

6 0
3 years ago
The closing process is necessary in order to
goldfiish [28.3K]

Answer:

The closing process is necessary in order to confirm that net income or net loss and owner withdrawals for the period are closed into the owner's capital account.

Explanation:

Most economies around the world follow a specific accounting period which is commonly referred to as financial year or tax year. Before a new financial year begins, the accounts from the ongoing financial year have to be closed legitimately through a process called the 'closing process'. This process culminates in confirming that the net income secured or the net loss bore by the owner is included in no other account than the owner's capital account.

In order to carry out the closing process, the accountant has to commence with identifying the accounts that are required to be closed with or before the ending of the predefined financial period. He then has to record the last entries in these accounts as 'closing entries'. Once the accounts are closed, he has to calculate the trial balance and interpret the outcome. Closing of temporary accounts through a valid closing process dispenses the ease of calculating profit and loss in any given financial period coming to end.

5 0
3 years ago
. What is a great system to manage money and prevent taking too much from one category? Please describe the
Allushta [10]

I'm pretty sure the answer would be a budget? A good budget is a way you can keep track of your money. Like what you are spending it on in different categories (like bills, entertainment, food, etc) and how much money is being spent in each.

4 0
3 years ago
Hemingway Corporation has 100,000 shares of common stock issued and outstanding. At the meeting of the board of directors on Dec
DaniilM [7]

Answer:

See the journal entry below

Explanation:

Retained earnings A/c Dr $500,000

Dividends payable A/c Cr $500,000

Here, cash dividend is being declared by the board on 100,000 shares hence the account of retained earnings is debited and account of dividends payable is credited.

NB.

Amount = Share × Price per share

Given that;

Share = 100,000

Price per share = $5

Amount

= 100,000 × $5

= $500,000

4 0
3 years ago
As the product manager for Whirlpools line of washing machines you are in charge of pricing new products. Your product team has
Alex17521 [72]

Answer:

The management should adopt skimming pricing strategy.

Explanation:

For the fact that this is a new technology and very difficult to be copied, the management should adopt skimming pricing strategy. This will allow them to charge high prices and make money in the market before their competitors starts making the same kind of washing machine. This product has benefits for the consumers as well as it consumes less water to clean the clothes so there is high probability of this machine is accepted even if the prices are exorbitantly higher and from this, its going to be demanded by many costomers.

7 0
3 years ago
Read 2 more answers
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