Answer:
$700,000
Explanation:
Data provided in the question
Sales price of the home = $960,000
Cost price of the home = $260,000
Based on the above information,
The computation of the amount of gain included in gross income is shown below:
= Selling price of the home - cost price of the home
= $960,000 - $260,000
= $700,000
Hence, the amount of gain i.e $700,000 is included in the gross income
The bank has an excess of $7,250,000. The total deposits maintained by the bank are $125 million. The reserves maintained by the bank are $26 million. The required reserve ratio is 15%.
Total deposits are 125,000,000.
The Required reserve ratio is 15%.
So in actuality, the bank had to maintain a reserve of $18,750,000.
It is maintained a total reserve of $ 26,000,000.
Excess reserve of $7,250,000.
The banks are required to maintain a particular percentage as reserve of the amount deposited with them. Deposit is that amount that the customers maintain with them. The banks make a profit by lending this deposit to other lenders. The bank has to keep an amount as reserve to see that they are able to pay back the customer their deposit amount if required by the customer.
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Answer:
Yes
Explanation:
Every establishment planning to serve alcohol should have a rbs certification.
Answer:
$1,258,950 and $5,233,670
Explanation:
The computation is shown below:
For cost of goods sold
= Cost of goods sold - beginning inventory overstated + ending inventory overstated
= $1,338,800 - $114,680 + $34,830
= $1,258,950
Since the ending inventory contains the lesser amount so it would be added and the beginning inventory contains larger amount so it would be deducted
For retained earning
= Retained earning - ending inventory
= $5,268,500 - $34,830
= $5,233,670
14%
Margin of Safety:
[(current sales - break even)/current sales] * 100
(12900-11094)/12900] *100
(1806/12900)*100
.14*100 = 14%
