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Rufina [12.5K]
2 years ago
8

Phil Frugal has been saving his pennies since he was 5 years old. He is now 45 and deposits his savings in a bank. His pennies t

otal $5000. Using this information and your knowledge of the banking system, place both the definition and dollar amounts below in their appropriate category. Assume a required reserve ratio of 10%. Not all items will be placed.

Business
1 answer:
Karolina [17]2 years ago
8 0

Answer:

Please see attachment

Explanation:

Please see attachment

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Selected information from Rockway, Inc.'s U.S. GAAP financial statements for the year ended December 31, included the following
Scrat [10]

Answer:

Cash flow from operating activties 3,800,000

Explanation:

Cash collected from sales:(A)    21,000,000

Cash paid to supplier (B)           (15,200,000)

Interest paid                                 (1,000,000)

income taxes paid                       (1,000,000)

Cash flow from operating activties 3,800,000

(A)we use the sales and account receivable account

3,000,000 + 21,000,000 - 2,500,000 = 21,500,000

(B) we solve for purchases with COGS and inventory

purchases:

15,000,000 + 3,000,000 - 2,400,000 = 15,600,000

and now, with purchase along wiht account payable we solve for

paid to suppliers

1,000,000 + 15,600,000 - 1,400,000 = 15,200,000

3 0
2 years ago
Fit & Slim (F&S) is a health club that offers members various gym services.
Hoochie [10]

Answer:

a. they are separate performance obligations

normal price of annual membership = $1,140

one yer enrollment in yoga = $600 x (30% - 10%) = $120 x 50% = $60

total $1,200

% of price allocated to:

annual membership = ($1,140 / $1,200) x $1,100 = $1,045

discount voucher = $1,100 - $1,045 = $55

b. the journal entry should be

Dr Cash 1,100

    Cr Unearned revenue, membership fees 1,045

    Cr Unearned revenue, discount voucher 55

6 0
2 years ago
Azure Inc. assigns $4,000,000 of its accounts receivables as collateral for a $3 million loan with a bank. The bank assesses a 3
Vlad1618 [11]

Answer with its Explanation:

Step 1:

First of all record a loan of $3 million loan:

Dr Bank $3,000,000

Cr Loan      $3,000,000

Step 2:

Finance charge will be 3% on this loan amount:

Dr Finance Charge $3million *3% = $90,000

Cr                   Bank                                       $90,000

Step 3:

The interest on the note is 7% which is $70,000. So the journal entry would be:

Dr Interest Expense $70,000

Cr Interest payable                  $70,0000

8 0
2 years ago
In a college-level course, Mrs. Smith gives the lectures, sets the due dates, and is the expert on the material. Mr. Doe helps g
andre [41]

The Code of Hammurabi was one of the earliest and most complete written legal codes, proclaimed by the Babylonian king Hammurabi, who reigned from 1792 to 1750 B.C. Hammurabi expanded the city-state of Babylon along the Euphrates River to unite all of southern Mesopotamia. The Hammurabi code of laws, a collection of 282 rules, established standards for commercial interactions and set fines and punishments to meet the requirements of justice. Hammurabi’s Code was carved onto a massive, finger-shaped black stone stele (pillar) that was looted by invaders and finally rediscovered in 1901.

5 0
2 years ago
N high power-distance countries such as China, employee perceived organizational support perceptions are not as deeply based on
Whitepunk [10]

Answer:

The correct answer is E

Explanation:

The expectation level by the employees are lower in the high power distance countries and the work is considered to be the moral obligations whether the firm cares for the employees or not.

Perceived firm support is the scenario which is grounded instead of the policy based. So, the difference is the level of expectation through the employees.

5 0
2 years ago
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