the commercial banking system borrows from the federal reserve banks. as a result, the checkable deposits

Who appoints the chairman of the board of governors of the federal reserve system

ELEN [110]

The chair is nominated by the President of the United States from among the members of the Board of Governors, and serves a term of four years after being confirmed by the United States Senate.

7 0

3 years ago

Read 2 more answers

Betty operates a beauty salon as a sole proprietorship. Betty also owns and rents an apartment building. In 2020, Betty had the

Alexeev081 [22]

Betty operates a beauty salon as a sole proprietorship. Betty also owns and rents an apartment building. In 2020, Betty had the following income and expenses. You may assume that Betty will owe $2,562 in self-employment tax on her salon income, with $1,281 representing the employer portion of the self-employment tax. You may also assume that her divorce from Rocky was finalized in 2016 and that Betty itemizes her deductions this year.

Interest income $12,960

Salon sales and revenue 87,460

Salaries paid to beauticians 45,820

Beauty salon supplies 23,510

Alimony paid to her ex-husband, Rocky 6,550

Rental revenue from apartment building 33,200

Depreciation on apartment building 13,450

Real estate taxes paid on apartment building 11,540

Real estate taxes paid on personal residence 6,560

Contributions to charity 4,600

Required:

Determine the Betty's AGI value.Betty operates a beauty salon as a sole proprietorship. Betty also owns and rents an apartment building. In 2020, Betty had the following income and expenses. You may assume that Betty will owe $2,562 in self-employment tax on her salon income, with $1,281 representing the employer portion of the self-employment tax. You may also assume that her divorce from Rocky was finalized in 2016 and that Betty itemizes her deductions this year.

Interest income $12,960

Salon sales and revenue 87,460

Salaries paid to beauticians 45,820

Beauty salon supplies 23,510

Alimony paid to her ex-husband, Rocky 6,550

Rental revenue from apartment building 33,200

Depreciation on apartment building 13,450

Real estate taxes paid on apartment building 11,540

Real estate taxes paid on personal residence 6,560

Contributions to charity 4,600

Required:

Determine the Betty's AGI value.Betty operates a beauty salon as a sole proprietorship. Betty also owns and rents an apartment building. In 2020, Betty had the following income and expenses. You may assume that Betty will owe $2,562 in self-employment tax on her salon income, with $1,281 representing the employer portion of the self-employment tax. You may also assume that her divorce from Rocky was finalized in 2016 and that Betty itemizes her deductions this year.

Interest income $12,960

Salon sales and revenue 87,460

Salaries paid to beauticians 45,820

Beauty salon supplies 23,510

Alimony paid to her ex-husband, Rocky 6,550

Rental revenue from apartment building 33,200

Depreciation on apartment building 13,450

Real estate taxes paid on apartment building 11,540

Real estate taxes paid on personal residence 6,560

Contributions to charity 4,600

Required:

Determine the Betty's AGI value

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8 0

3 years ago

The financial statements of Georgi Manufacturing Company report net sales of $595,000and accounts receivable of $80,000 and $60,

Elena-2011 [213]

Answer:

43 days

Explanation:

The first step is to calculate the account receivable turnover

= $595,000/($80,000+$60,000)/2

= 595,000/140,000/2

= 595,000/70,000

= 8.5

Therefore the average collection period can be calculated as follows

= 365 /8.5

= 42.9

= 43 days

7 0

3 years ago

Deborah Company's account balances at December 31 for Accounts Receivable and Allowance for Doubtful Accounts were $2,100,000 an

mart [117]

Answer:

The amount of the adjusting entry for bad debts at December 31 is C. $91,000

Explanation:

Adjustment entry is made on changes on the amount of provision for doubtful debts.

Increase in amount of provision for doubtful debts increases the expenses in income statement.

Decreases in amount of provision for doubtful debts decreases the expenses in income statement.

Allowance for Doubtful Accounts Balance $35,000 (cr)

Allowance during th year $126,000

Increase in Allowance $ 91,000

$ 91, 000 increase in allowance for doubtful debts increases the expenses in Income Statement

5 0

4 years ago

Who of the following is not included in the Bureau of Labor Statistics' "employed" category?

kozerog [31]

Answer:

c. those waiting to be recalled to a job from which they had been laid off

Explanation:

Employment need not mean to be employed under a citizen it basically means to be working and earning, whether under permanent contract or under temporary contract.

Being on vacation do not mean to be unemployed it basically means to be on temporary leaves, and that the leaves might or might not be paid.

Involving one self into family business is also employed.

But a person who is removed from job and then is waiting for a call is clearly unemployed.

7 0

3 years ago