Answer:
The correct answer is then it has required reserves of $110 and holds excess reserves of $190.
Explanation:
According to the scenario, computation of the given data are as follows:
Total deposit = $1,000 + $100 = $1,100
So, we can calculate the total reserve required by using following formula:
Total reserve required = 10% × Total deposit
= 10% × $1,100 = $110
And Previous excess = $100
Current access = $90
So, Excess reserve = Previous excess + Current access
= $100 + $90
= $190
The answer would be:
the employees supervisor.
Hope this helps
Answer:
Yes he can execute the enrollment for her
Explanation:
The power of attorney is a legal document that given the authority to act in place on another person. It can be represented on behalf of other people so that the act could be done.
Here the individual can act legal with respect to the financial issue, property matters, etc
Therefore according to the given situation yes he can be executed
Answer: $27,000
Explanation:
Even though for GAAP reasons, revenue is to be recognized only when earned as per the Accrual principle of accounting, this is not so for the calculation of taxable income.
Taxable income is to be calculated on cash basis which means that taxes are to be paid on revenue when the revenue is received in cash and not when it is earned.
As Ral Corp. received the money in 2020, they are to include the entire amount of $27,000 in their 2020 taxable income for rent revenue.
Answer:
November 1
Explanation:
As per generally accepted accounting principles (GAAP), when the goods or services are delivered the revenue should be recorded and the transaction done in all respects.
The principle of revenue recognition occurs when the revenue is realized or earned, whether cash is obtained or not and it also meets the accounting accrual basis. Realizable here means that the consumer receives the product but the payment is made later.
Therefore, the revenue should be recorded on November 1
