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maksim [4K]
3 years ago
13

A commercial bank has excess reserves of $500 and a required reserve ratio of 20%; it grants a loan of $1000 to a borrower. If t

he borrower writes a check for $1000 which is deposited in another commercial bank, the first bank will be short of reserves, after the check has been cleared, in the amount of:
Business
1 answer:
koban [17]3 years ago
8 0

Answer:

$500

Explanation:

Calculation for amount that the first bank will be short of reserves, after the check has been cleared

Using this formula

Reserve shortage=Loan granted(check)-Excess reserves

Let plug in the formula

Reserve shortage=$1,000-$500

Reserve shortage=$500

Therefore the first bank will be short of reserves, after the check has been cleared, in the amount of:$500

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Compute the Work-in-Process transferred to the finished goods warehouse on April 30 using the following information:
malfutka [58]

Answer:

$1,100

Explanation:

Computation for the Work-in-Process transferred to the finished goods warehouse on April 30

Work-In-Process Inventory, April 1 300

Direct materials used in production 225

Direct labor costs incurred 400

Manufacturing overhead costs 350

Less Work-In-Process Inventory, April 30 ($175)

Work-in-Process transferred to the finished goods warehouse $1,100

Therefore the Work-in-Process transferred to the finished goods warehouse on April 30 will be $1,100

4 0
3 years ago
How do economists calculate GDP for one year using the expenditure approach?
never [62]

The expenditure method is the most widely used approach for estimating GDP, which is a measure of the economy's output produced within a country's borders irrespective of who owns the means to production. The GDP under this method is calculated by summing up all of the expenditures made on final goods and services.

3 0
4 years ago
Cho is working on poverty reduction in a Philadelphia public housing development. In the analysis he writes after the project, h
Anestetic [448]

Answer:

Oscar Lewis’s "culture of poverty" is usually interpreted as blaming the poor people for being poor. It's like, you are poor because you decide to be poor, and Cho (and I) believe that it is not true.

While Mario Luis Small believed that someone doesn't have or belongs to a culture just because his or her race, ethnic group or gender. His work relates to how environmental, socio-cultural conditions influence poor neighborhoods and their residents.  

6 0
3 years ago
Read 2 more answers
Gross Domestic Product or GDP can be
Talja [164]

Answer:

f)All of the above or any of the above

Explanation:

GDP or gross domestic product is the aggregate of the values of goods and services produced within a country's boundaries. In calculating the value of GDP, economists consider the value of finished goods only.

GDP is calculated using the expenditure approach and the income approach. With the expenditure approach, GDP is the sum of all consumers, government, incomes, and net imports. The result is GDP and also the aggregate demand.

In the income approach, the GDP is the sum of all national incomes . In other words, GDP is equal to Sales Taxes plus Depreciation and Net Foreign Factor Income.

4 0
3 years ago
​Hunter's Home Remodeling had cash sales for the month of May totaling​ $43,700. Hunter offers a 1−year warranty on its construc
Angelina_Jolie [31]

Answer:

warranty expense      2,622 debit

        warrant liability                       2,622 credit

Explanation:

it will declare a warranty liability equal to the expected cost of the warrant. This is done to match the expenses with the time they occur.

Because, the warrants will be claimed in the subsequent years or the sales made this period.

warrant liability/expense:  43,700 x 6% = 2,622

6 0
3 years ago
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