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Marina CMI [18]
3 years ago
14

The fractional reserve system of banking started when goldsmiths began: Select one: a. Accepting deposits of gold for safe stora

ge b. Charging people who deposited their gold c. Using deposited gold to produce products for sale to others d. Issuing paper receipts in excess of the amount of gold held
Business
1 answer:
Phoenix [80]3 years ago
6 0

Answer:

d. Issuing paper receipts in excess of the amount of gold held.

Explanation:

Fractional-reserve banking is practiced by all commercial banks. Such banks involve banks that accept deposits from various customers and make loans to other borrowers while keeping an amount in reserve that is equal to a part of the deposit liabilities of the bank.

The fractional reserve system of banking started when goldsmiths began issuing paper receipts in excess of the amount of gold held.

Option d. is correct.

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Garcia Company issues 11.5%, 15-year bonds with a par value of $450,000 and semiannual interest payments. On the issue date, the
noname [10]

Answer:

                                  Journal Entry

Date   Account Titles and Explanation         Debit          Credit

Jan 1   Cash                                                    $511,875

                Bond payable                                                  $450,000

                Premium on bond payable                             $61,875

                ($450,000*13.75%)

           (To record issue of bonds at premium)

4 0
3 years ago
A firm has the following accounts and financial data for 2007:
Oksi-84 [34.3K]

Answer:

The correct answer is $302.40.

Explanation:

According to the scenario, the computation can be done as:

To calculate firms' earning first we less cost of goods and total operating expenses from sales revenue:

= $3,060 - $1,800 - 600

= $660

Now we deduct the interest expense, then

= $660 - $126

= $534

Now we deduct tax rate, then

= $534 × $213.60    ( $534× 40%)

= $320.40

Now we finally deduct the dividends to get the firm's earning to common shareholder's, then

= $320.40 - 18

= $302.40

Hence, the firm's earning to common shareholder's is $302.40.

5 0
3 years ago
Which recent president raised taxes when the income tax share of gdp was very low?
alexira [117]

George H.W. Bush firmly said, "Read my lips: no new taxes."

He would continue to be troubled by the words. The top tax rate was increased from 28% under Ronald Reagan to 31% by the Omnibus Budget Reconciliation Act of 1990.

What is Tax??

In order to ensure that taxpayers are paying the proper amount of tax at the proper time and obtaining the proper tax allowances and tax reliefs, tax compliance refers to both policy actions and individual behaviour. A tax is a mandatory financial charge or some other type of levy imposed on a taxpayer (A person or legal entity) is used by a government organisation to pay for government expenses and other public expenditures (regional, local, or national). Around 3000–2800 BC, the first recorded taxation was enacted in ancient Egypt. Non-compliance with the law includes failing to pay on time as well as evading or resisting taxation. Taxes can be paid in cash or in the labour equivalent and can be either direct or indirect.

To learn more about Tax

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7 0
1 year ago
As an accountant for hartley enterprises, you are responsible for preparing the statement of cash flows. you have transactions f
Ganezh [65]

"Cash flow from financial activities" is the heading." This section of the cash flow statement displays all of your company's financing activity, including equity, loan, and dividend transactions.

<h3>What is cash flow statement?</h3>

A cash flow statement is a financial statement that outlines all cash inflows a company receives from ongoing operations and outside investment sources.

It also includes all cash outflows for business and investment operations over a set period of time.

Thus, "Cash flow from financial activities" is the heading.

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5 0
2 years ago
Ocean House must use various metrics to measure the benefits of its human capital in order to determine the effectiveness of its
Anettt [7]

Answer:

a.  Human capital return on investment

Explanation:

Human capital return on investment  -

It helps to determine the profit return of the company or organisation on the per unit expenditure on the employees , is referred to as the Human capital return on investment  .

It is basically the interconnection between the profit of the company and the cost on the workforce .

hence , from the given scenario of the question,

The correct option is a.  Human capital return on investment  .

5 0
2 years ago
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