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valkas [14]
2 years ago
13

If the required reserve ratio is 10 percent, currency in circulation is $400 billion, checkable deposits are $800 billion, and e

xcess reserves total $0.8 billion, then the money supply is ________ billion. A) $8000 B) $1200 C) $1200.8 D) $8400
Business
1 answer:
Viefleur [7K]2 years ago
4 0

Based on the information given the money supply is B) $1200.

Using this formula

Money supply=Currency in circulation+ Checkable deposits

Where:

Currency in circulation=$400

Checkable deposits=$800

Let plug in the formula

Money supply=$400+$800

Money supply=$1,200

Inconclusion the money supply is B) $1200.

Learn more about money supply here:brainly.com/question/3625390

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Thomlin Company forecasts that total overhead for the current year will be $11,742,000 with 164,000 total machine hours. Year to
Basile [38]

Answer:

d.$72 per machine hour

Explanation:

Predetermined overhead rate = Budgeted Overheads ÷ Budgeted Activity

therefore,

Predetermined overhead rate = $11,742,000  ÷ 164,000

                                                  = $71.598 or $72

The predetermined overhead rate based on machine hours is $72 per machine hour.

3 0
2 years ago
you have to wait until it says i posted it 1 minute ago if answer before u will be elminated 2 more to go
Blizzard [7]

Answer:

GG

Explanation:

GG

7 0
3 years ago
Read 2 more answers
Gannon Company acquired 10,000 shares of its own common stock at $20 per share on February 5, 2014, and sold 5,000 of these shar
DiKsa [7]

Answer:

The credit entry for the issue of 5000 shares is:

Cr Treasury stock                                       $100,000

Cr Paid-in capital from treasury stock          $35,000

Explanation:

The par value of the common stock issue($20 per share) is credited to treasury stock account, while the excess of issue price of $27 over the par value of $20, $7 per share is credited to paid-in capital from treasury stock

The full double entries for the issue of 5000 shares is as follows:

Dr Cash ($27*5000)                                                 $135,000.00  

Cr Treasury stock($20*5000)                                                          $100,000

Cr Paid-in capital from treasury stock($7*5000)                                $35,000

Under International Financial Reporting Standards, the credit entries would be that par value is credited to equity share capital and the excess credited to share premium account.

                                 

3 0
3 years ago
Smith Fabricating uses job costing and applies overhead using a normal costing system and uses direct labour cost as the allocat
SSSSS [86.1K]

Answer: C. $950

Explanation:

Hello.

Your question was missing a few details so I threw them in. You'll find it in attachments.

To calculate the total Manufacturing costs for Job 201 we would need to calculate the overhead cost allocation rate first to find out how much Overhead to allocate to Job 201.

Using a normal costing system with direct labour cost as the allocation base,

Overhead allocation rate = (Overheads/Direct Labor Cost)*100

= (100,000/50,000)*100

=200%

Overhead allocation rate is 200% or 2x direct labor cost.

Now to calculate the total Manufacturing costs of Job 201,

Total manufacturing cost for Job 201 = Direct Material + Direct Labor + Manufacturing Overheads

= 350 + 200 + (200*2 for manufacturing overhead)

= 350 + 200 + 400

= $950

$950 is the total manufacturing cost for Job 201 making option C correct.

7 0
3 years ago
Where are traditional economies usually found? . A. in small communities that welcome change . . B. in large communities that we
Kay [80]
The answer is small communities that avoid change. 
 Traditional economies are usually found in a small communities that avoid change. It is so hard to put business in that places because it is very risky.

4 0
2 years ago
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