Answer:
Ray calculated how much each seat cost to manufacture and set a wholesale price that covered expenses and earned a reasonable profit. After doing so, Ray developed a channel of distribution including wholesalers and retailers to get the theater seats to consumers.
Explanation:
Answer:
B. To encourage the wealthy to invest in the bank and become attached to the national government.
Explanation:
Alexander Hamilton proposed the idea of having a national bank and it was approved by the congress in 1791.
Hamilton justified establishing a national bank because he intended to encourage the wealthy to invest in the bank and become attached to the national government.
The national bank had $10,000000 (Ten million dollars) in capital.
Answer:
b
Explanation:
b :because an enconomic good is something you pay for
Answer:
The answer is option (3) $200,000
Explanation:
Solution
Given that:
The reserve ratio =20%
The Required reserves = 300000*20/100
=60000
The excess reserves = 100000-60000
=$40000
Thus
The Money multiplier = 1/0.20
= 5
Therefore, maximum amount by which loans could be expanded = 40000*5
= $200000
Answer:
Contingent liabilities refer to those obligations which might arise in the near future based upon the happening or non happening of a certain event and it's outcome.
Such liabilities are recorded if there is likeliness of an event happening and when they can be reasonably quantified and estimated.
In the given case, the automobile manufacturer will probably be required to recall it's products. The amount can be estimated.
In such cases, such expense is to be recognized in the income statement and at the same time a liability for such expenses needs to be created in the balance sheet. Product recall refers to replacement of defective products by the manufacturer. It is similar to a warranty.
Reporting on Dec 31 would be as follows,
Warranty Expense A/C Dr. $2.5
To Warranty Liability $2.5
(being product recall liability for for 2.5 million created)
