Answer:
D: Guests must pay for any alcoholic beverages
they consume.
Explanation:
Guests in any establishment are expected to pay for any alcoholic beverages they consume. A private club is not necessary a profit-making venture, but a social or networking establishment. Membership to a private club is restricted. Members usually pay a membership to join and a regular subscription fee.
The club purchases foods and drinks served in its premises. The food and beverages are sold to members at fair prices. Members are required to pay for what they consume. Many clubs do not charge a service fee as it is catered for in the recurring subscription fees.
Answer:
$7,899,827
Explanation:
The computation of the maximum increase in money supply is shown below:
Data given in the question
Additional value in excess reserves = $868,981
Reserve ratio = 11%
By considering the above information, the maximum increase in money supply is
= Additional value in excess reserves × 100 ÷ reserve ratio
= $868,981 × 100 ÷ 11
= $868,981 × 9.09
= $7,899,827
Answer:
A bank run occurs when many clients withdraw their money from a bank, because they believe the bank may cease to function in the near future
Explanation:
A bank run occurs when many clients withdraw their money from a bank, because they believe the bank may cease to function in the near future
Answer:
Dr cash $310,831
Dr discount on bonds payable $29,169
Cr bonds payable $340,000
On 30th June 2021
Dr interest expense $ 15,542
Cr cash $15,300
Cr discount on bonds payable $242
On 31st December 2021
Dr interest expense $ 15,554
Cr cash $15,300
Cr discount on bonds payable $254
Explanation:
The bond issued at a discount is the first bond whose cash proceeds of $310,831 were less than face value of $340,000.
Discount=face value -cash proceeds=$340,000-$310,831=$29,169.00
Find attached bond amortization schedule.