Answer:
6.50 years
Explanation:
Data provided in the question:
Amount invested in consumer loans = $75 million
Duration of consumer loan = 3 year
Amount invested in T-Bonds = $39 million
Duration of T-Bonds = 16 year
Amount invested in T-Bills = $39 million
Duration of T-Bills = 6 months
Now,
The duration of the bank's asset portfolio in years
= ![[\frac{75}{75+39+19.5}\times3] + [\frac{39}{75+39+19.5}\times 16] + [\frac{39}{75+39+19.5}\times 0.5]](https://tex.z-dn.net/?f=%5B%5Cfrac%7B75%7D%7B75%2B39%2B19.5%7D%5Ctimes3%5D%20%2B%20%5B%5Cfrac%7B39%7D%7B75%2B39%2B19.5%7D%5Ctimes%2016%5D%20%2B%20%5B%5Cfrac%7B39%7D%7B75%2B39%2B19.5%7D%5Ctimes%200.5%5D)
= 6.50
Hence,
The answer is option 6.50 years
Answer:
Option (d) is correct.
Explanation:
Given that,
Inventory sold to Alberta, Inc. on account = $5,800
Cost of goods sold = $4,000
The journal entries are as follows:
(i) On October 1,
Accounts receivable A/c Dr. $5,800
To sales A/c $5,800
(To record the credit sale of inventory)
(ii) On October 1,
Cost of goods sold A/c Dr. $4,000
To Merchandise inventory A/c $4,000
(To record the cost of goods sold)
The correct answer is that the colon is being correctly used in the third choice.
The colon is being used correctly in the sentence: The kitchen assistants helped the chef by: chopping onions, blending spices, and plating the food. This is a correct use of a colon because it is being used to introduce a list of items.
Answer:
given statement is false
Explanation:
given data
active income = $210,000
portfolio income = $45,000
passive activity loss = $230,000
deduct passive activity loss = $230,000
solution
as per Topic Passive Activities
we know that Losses and Credits in IRS state here that Loss from passive activity is not allowed for current year
and here this loss will be carry forward to the next taxable year
as a similar rule is applicable to give credits from passive activities
so that given statement is false
Answer:
The correct answer is C
Explanation:
Closing entry is defined as the journal entry which is passed or made the end of the accounting period or year, which involves shifting of the data from the temporary accounts on the income statement to the permanent accounts on the balance sheet of the company.
The third closing entry which is to be recorded is as:
Income Summary A/c................................Dr $11,950
Capital A/c................................................Cr $11,950
Being the closing entry has been recorded
Working Note:
Amount = $69,700 - $57,750
= $11,950