Answer:
Dr Profit and loss account $454,000
Cr Retained earnings $454,000
Explanation:
Preparation of the Journal entry to close net income for Riverbed Corporation
Based on the information given we were told that the Corporation reports net income of the amount of $454,000 on December 31 this means the Journal entry to close the account will be recorded as:
Dr Profit and loss account $454,000
Cr Retained earnings $454,000
Answer:
$21.71%
Explanation:
Given that
Monthly saving = $760
Gross income = $3500
The computation of the savings ratio is shown below:-
Savings Ratio = (Monthly savings ÷ Gross Income) × 100
= ($760 ÷ $3,500) × 100
= $0.21 × 100
= $21.71%
Therefore for computing the saving ratio we simply divide gross profit by monthly saving and after a result we multiply by 100.
Answer:
Property of additive inverse
Explanation:
Given: Ramon got $2.5 million for the annual marketing budget such that he must spend the budget such that 
To find: property of addition that help us to know what the value of x must be
Solution:
1 million is equal to 
So,
According to property of additive inverse,
Given equation is
This equation can be written as 
So,
Answer:
The correct answer is letter "D": smaller, community banks.
Explanation:
The Great Recession is the economic fall that occurred between 2007 and 2009 as a result of the housing bubble burst in the U.S. During this period many well-known firms such as <em>Chrysler, General Motors, </em>and <em>Lehman Brothers</em> filed for bankruptcy. However, not all the business experienced a downturn.
A study conducted by the <em>Federal Reserve Bank of St. Louis</em> (2013) indicates that 417 <em>banks and thrift institutions</em> failed between 2006 and 2011 but 702 <em>small community banks</em> reported total assets of around $10 billion by allowing individuals to benefit from loans. Banks and thrift institutions were too conservative in loans during the Great Recession which was interpreted in lower revenues.
