Answer:
Explanation:
Based on the scenario being described it can be said that Peter can certainly apply for a real estate licence again but will most likely never receive one. This is mainly due to the fact that the FREC take fraud very seriously and will permanently revoke a licence if you are found guilty, in addition you can also be fined anywhere between $1,000 to $5,000 for the violation. Therefore Peter will most likely never be granted a sales associate's license again.
An owner who withdraws an amount of $20000 would lead to decrease in the assets and the owner's equity by $20000.
Answer: Option D.
<u>Explanation:</u>
Assets are the things which are owned by the owner of the organisation and provide economic benefits. Liabilities are things which are the obligation on the owner of the company that he has to pay off. Equity is the share of the share holder of the company.
If an owner with draws or takes out money from the business for the personal use, it would lead to the decrease in the amount of the assets of the owner. It would also lead to the decrease in the amount of equity of the owner because he has taken out his share from the business for his personal use and not for the business.
Answer:
In the March 31 statement of financial position, the company should record the futures contracts as a loss and liability of $100,000
Explanation:
GAAP specifies that all derivatives instrument and hedging activities recorded in the balance sheet are assets and liabilities and measured at fair value.
At the starting of the futures contracts, the fair value is $0 since the prices of the future contract was entered at that date.
Given that 200 futures contracts was sold at the commodity exchange foo $$0.83/lb and each contract was for 25,000 lb. Therefore a fair value hedge of 5 million lb. (25,000 lb. × 200 contracts) of copper at $0.83/lb is expected to be delivered.
The price had risen to $0.85/lb at the date of the financial statements, Copper Monkey should record a loss and liability = (5 million lb) × ($0.83 – $0.85) = 5000000 × 0.02 = 100000
Copper Monkey should record a loss and liability of $100,000
<em>You tell them it's too late to exchange since it already expired.</em>
Answer: lowers the federal funds rate.
Explanation:
The federal funds rate is the rate at which banks lend money to their selves overnight to ensure that they meet lending and reserve requirements.
The interest rate paid on excess reserves rate is the amount of interest that the Fed pays banks to keep excess reserves. If this rate was to decrease, banks would have less incentive to keep excess reserves at the Fed and so would have more money to meet lending and reserve requirements such that they won't need to borrow from other banks as much which would then lead to the federal funds rate decreasing due to less demand.
