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3 years ago

20. All banks are required to *

Business

1 answer:

saveliy_v [14]3 years ago

4 0

Answer:

B. maintain reserves

Explanation:

The Federal Reserve expects commercial banks to retain a percentage of customers' deposits in their custody at all times. The amount retained in custody is known as reserves. It means the banks cannot loan out that reserve amount. It should be kept in the bank's vaults or with the Federal Reserve.

The reserve caters to the regular and unexpected withdrawals. The Federal Reserve determines the percentage to be retained as reserves. The reserve requirement is also a monetary policy tool for the Federal Reserve.

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How much will you need to invest each month over the next 30 years in order to meet your savings goal of $750,000, assuming you

AnnZ [28]

Answer:

Explanation:

Rate = 7% / 12 = 0.5833% (monthly)

Savings goal, FV = $750,000

Number of periods = 30 * 12 = 360

Future value = Monthly payments * [(1 + r)^n - 1] / r

750,000 = Monthly payments * [(1 + 0.005833)^360 - 1] / 0.005833

750,000 = Monthly payments * 1,219.874713

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3 years ago

One common feature of agile projects is the "walk-around meeting".<br> A. True<br> B. False

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Answer:

Explanation:

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3 years ago

An agent's customer says that ABC Corporation is about to be bought out. The customer wishes to place an order to buy ABC common

tankabanditka [31]

Answer:

Explanation:

In this specific scenario, the best thing for the agent to do would be to bring the information to the attention of the firm's supervisory principal named to handle such matters in a Supervisory Procedures Manual. That is because inside information or insider trading is illegal and even though it does not need to be reported to the state securities Administrator, it should still be handled by the firm's supervisory principal in order for it to be handled correctly so that the firm does not get into trouble.

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4 years ago

Jameson Corporation was organized on May 1. The following events occurred during the first month. Received $68,000 cash from the

monitta

Answer:

Explanation:

The journal entries are shown below:

1. Cash A/c Dr $68,000

To Common stock $5,150

To Additional paid-in capital $62,850

(Being the cash is received)

The common stock value is computed by

= Number of investors × number of shares × par value

= 5 investors × 103 shares × $10

= $5,150

And, the remaining balance is transferred to additional paid-in capital

2. No journal entry required

3. Cash A/c Dr $17,000

To Long term note payable A/c $17,000

(being cash is borrowed for long term payable)

4. Equipment A/c Dr $18,000

To Cash A/c $1,500

To Short term note payable $16,500

(Being equipment is purchased for cash and short term note payable)

5. Short term Notes receivable A/c Dr $1,600

To Cash $1,600

(Being cash is paid)

6. Store fixtures A/c Dr $19,000

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3 years ago

Diane Bernick opened Bernick's Consulting. Transactions for the month of January and trial balance at January 31 are shown. Jan.

padilas [110]

1. The preparation of the Income Statement for Bernick's Consulting is as follows:

Bernick's Consulting

<h3>Income Statement </h3>

For the Month Ended January 31, 20--

Consulting Fees 401 $1,700

Wages Expense 511 1,400

Rent Expense 521 750

Phone Expense 525 65

Utilities Expense 533 115

Miscellaneous Expense 549 40 $2,370

Net income $670

2. The preparation of the Owner's Equity for Bernick's Consulting is as follows:

Bernick's Consulting

<h3>Owner's Equity</h3>

As of January 31, 20--

Diane Bernick, Capital 311 $11,000

Diane Bernick, Drawing 312 (450)

Net loss (670)

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3. The preparation of the Balance Sheet for Bernick's Consulting is as follows:

Bernick's Consulting

<h3>Balance Sheet</h3>

As of January 31, 20--

<h3>Assets:</h3>

Cash 101 $9,730

Office Supplies 142 200

Office Equipment 181 1,300

Total assets $11,230

<h3>Liabilities and equity:</h3>

Accounts Payable 202 $1,350

Owner's equity 9,880

Total liabilities and equity $11,230

Bernick’s Consulting

<h3>Trial Balance</h3>

January 31, 20--

ACCOUNT TITLE ACCOUNT NO. DEBIT CREDIT

Cash 101 $9,730

Office Supplies 142 200

Office Equipment 181 1,300

Accounts Payable 202 $1,350

Diane Bernick, Capital 311 11,000

Diane Bernick, Drawing 312 450

Consulting Fees 401 1,700

Wages Expense 511 1,400

Rent Expense 521 750

Phone Expense 525 65

Utilities Expense 533 115

Miscellaneous Expense 549 40

Totals 14,050 14,050

Learn more about preparing financial statements at brainly.com/question/22941895

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2 years ago