Cash $32,000, A/R $60,200, Land $200,000, Equipment $16,700, Allowance for Doubtful Accounts $5,100, A/P $17,900, N/P $51,900, Freeman, Capital $184,300.
The journal entry for Freeman's investment would be:
Cash $32,000
Accounts Receivable $60,200
Land $200,000
Equipment $16,700
Allowance for Doubtful Accounts $5,100
Accounts Payable $17,900
Notes Payable $51,900
Hannah Freeman, Capital $184,300
In this entry, Freeman is investing in the partnership by contributing cash, accounts receivable, land, and equipment. The appraised values for the land and equipment are used to record these assets. Additionally, the allowance for doubtful accounts is increased to reflect the analysis of the accounts receivable. On the liabilities side, the existing accounts payable and notes payable are recorded. Finally, the remaining balance is recorded in Hannah Freeman's capital account. This entry reflects the increase in the partnership's assets and liabilities as a result of Freeman's investment. It also ensures that the partnership's financial statements accurately reflect the value of its assets and liabilities.
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.3. One day you happen to hear a snippet of conversation between two graduate students, who are drinking coffee and contemplating an open box of exquisitely delicious chocolate truffles in the Page Break Café. The first student opines that one can definitely outline a set of objective design principles that should underpin the construction of any professional chart or map. The second student disagrees vehemently and argues that the one and only important thing to worry about is aesthetics. The first student is speechless. What do you think? Use your knowledge of data visualization to inform your answer, and be sure to explain your answer carefully.
The debate between the two graduate students revolves around the importance of objective design principles versus aesthetics in the construction of professional charts or maps.
Objective design principles in data visualization serve as guidelines to ensure clarity, accuracy, and effective communication of information. These principles include considerations such as appropriate use of colors, legibility of text, proper labeling, and accurate representation of data. By adhering to these principles, charts and maps can convey the intended message clearly, facilitating data comprehension and analysis.
However, aesthetics cannot be disregarded. Visual appeal and aesthetics contribute to the overall user experience and can enhance engagement with the data. An aesthetically pleasing chart or map can captivate the viewer's attention, stimulate interest, and encourage exploration of the data. Attention to aesthetics involves aspects such as visual balance, appropriate use of visuals and typography, and overall design coherence.
Both objective design principles and aesthetics are important in data visualization because they serve different purposes. Objective design principles ensure accuracy and effective communication, while aesthetics enhance engagement and user experience. Striking a balance between these two aspects is crucial to create visually appealing and informative visualizations that effectively convey the intended message while engaging the audience.
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The table shows the terms of a fixed-rate mortgage.
Which accurately describes the terms of this mortgage? Check all that apply.
The homeowner is borrowing $360,000.
The monthly interest rate is 4 percent.
Monthly payments must be made for 30 years.
The annual interest rate is 4.8 percent.
The homeowner is borrowing $200,000.
Monthly payments must be made for 360 years.
The fixed-rate mortgage concept is used in home loans. Monthly payments for 30 years, the interest rate is 4.8%, and borrowing $200,000.
What is a fixed-rate mortgage?It is usually used in home loans with a fixed interest rate during the term of the loan. It is beneficial because once the rate of interest is fixed it is not influenced by the increase in the rate in the future.
C - Monthly payments for 30 years.
D - The interest rate is 4.8 % annually
E - borrowing $200,000.
Therefore, options C, D, and E explain the fixed-rate mortgage.
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According to your results of the test, write a 4-5 sentence summary of your personality.
My test results describe me as a ______ parrot______ (animal), which means that I…
WHOEVER HELPS GETS 20 POINTS
Answer: am rebellious, outgoing, and expressive
Explanation:
the existence of positive economic profits induces firms to: group of answer choices enter an industry, which shifts the market supply curve to the left and decreases market price. exit an industry, which shifts the market supply curve to the right and decreases market price. enter an industry, which shifts the market supply curve to the right and decreases market price. enter an industry, which shifts the market supply curve to the right and increases market price.
The existence of positive economic profits induces firms to enter an industry, which shifts the market supply curve to the right and decreases market price.
Option C is correct.
What does "market supply" entail?The total quantity of an item that producers are willing and able to sell at various prices over a specific time period, such as a month, is known as the market supply. A market supply curve is the horizontal sum of all a company's supply curves in a given industry.
Why is a supply curve in the market important?Understanding the law of supply necessitates the use of supply curves. They illustrate graphically how producers will increase the quantity of a good or service as prices rise.
What is a supply curve in the market?The relationship between the rate and the product to be supplied is depicted by the supply curve. On the X and Y axes of a graph, the price and quantity data represent the supplier's willingness to sell the quantity of their goods or services at various price levels.
Question is incomplete:
the existence of positive economic profits induces firms to: group of answer choices
A. enter an industry, which shifts the market supply curve to the left and decreases market price.
B. exit an industry, which shifts the market supply curve to the right and decreases market price.
C. enter an industry, which shifts the market supply curve to the right and decreases market price.
D. enter an industry, which shifts the market supply curve to the right and increases market price.
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John has $2000 to invest. Part of the money is to be invested at 6% and the rest at 7%. How much is invested in each account if the total interest in a year is $140
There is no valid solution for investing $2000 with 6% and 7% interest rates to yield a total interest of $140 in a year.
What is the optimal allocation of funds for maximizing returns on a $2000 investment?Let's denote the amount invested at 6% as "x" and the amount invested at 7% as "2000 - x" (since the total investment is $2000).
To calculate the interest earned from the investment at 6%, we multiply the amount invested at 6% by the interest rate: 0.06x.
To calculate the interest earned from the investment at 7%, we multiply the amount invested at 7% by the interest rate: 0.07(2000 - x).
We know that the total interest earned in a year is $140, so we can set up the equation:
0.06x + 0.07(2000 - x) = 140
Let's solve for x:
0.06x + 0.07(2000 - x) = 140
0.06x + 140 - 0.07x = 140
-0.01x = 0
x = 0 / -0.01
x = 0
Based on the equation, it appears that there is no positive value for x that satisfies the equation.
This means that there is no valid solution for investing $2000 with 6% and 7% interest rates to yield a total interest of $140 in a year.
"Please note that if there was a typo or an error in the problem description, such as incorrect interest rates or total interest amount, please provide the correct information so I can assist you further."
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What health issue did Feiler face that led him to consider his family?
When explaining chemical reactions to a friend, Brianna models a reaction by combining ingredients to make a cake. Which type of chemical reaction is Brianna most likely explaining?
synthesis
decomposition
polymerization
replacement
When explaining chemical reactions to a friend, Brianna models a reaction by taking several colors of modeling clay and making a sculpture of a horse are synthesis chemical reaction.
Synthesis reactions are those that take place when two distinct atoms or molecules interact to create a new chemical or molecule. When a synthesis reaction takes place, energy is often released, and the reaction is exothermic.
What is synthesis chemical reaction?
when two or more components (compounds or elements) mix to create a new product, a compound with new qualities. They synthesize to create a new material, which is why the process is known as a synthesis.Synthesis is the process of creating chemical compounds through the reaction of simpler constituents. A difficult and complex task that necessitates the ongoing creation of novel reactions, catalysts, and procedures is the building of complex and defined new molecules.The production of water and the production of carbon dioxide are two typical examples of synthesis reactions. The reactants in the chemical equation for water are 2H2 and O2, and the result is 2H2O. The reactants in the chemical equation for carbon dioxide are 2CO and O2, and the result is 2CO2.To learn more about synthesis chemical reaction visit:https://brainly.com/question/23864396
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Answer:
synthesis
Explanation:
Describe ESG environment, social and governance framework.
Describe what should the environmental considerations, social
considerations and governance considerations be like for any
organisation.
The ESG framework includes environmental, social and governance factors. Organizations must prioritize sustainability, social responsibility and ethical governance practices.
The ESG Framework addresses the environmental, social and governance factors that organizations consider when assessing their sustainability and ethical practices. Environmental considerations involve reducing environmental impacts, promoting resource efficiency, and mitigating climate change. Social considerations focus on social responsibility, human rights, labour practices and community participation.
Governance considerations relate to transparent and accountable decision-making, ethical behaviour, board diversity, and shareholder rights. Organizations must prioritize environmental sustainability, social well-being and effective governance to ensure long-term sustainability, positive social impact, and responsible management of resources and stakeholders Mandarin.
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Becky makes $8.75 an hour plus benefits, which are an additional 13.5%.
How much does Becky make per hour including benefits? *
$9.20
$
O $9.95
O $9.93
O $8.88
Answer:
$9.93
Explanation:
Becky makes $8.75, the benefits are 13.5 % of $8.75.
Including benefits, Becky makes
=8.75 + ( 13.5 /100 x $8.75)
=$8.75 (0.135 x $8.75)
=$8.75 + $1. 18125
=$9.93125
=$9.93
The COUNTA function returns the number of cells in a range containing which features?
Answer:
any type of information, including error values and empty text
What is the last step in the home buying process quizlet?
The loan and home closing is the last step in the home buying process.
Close the sale :
At closing, you will sign all of the paperwork required to complete the purchase, including your loan documents. It typically takes a couple of days for your loan to be funded after the paperwork is returned to the lender. Once the check is delivered to the seller, you are ready to move into your new home.
Some of the steps involved in buying new home :
Step 1: Start Your Research Early
As soon as you can, start reading Web sites, newspapers, and magazines that have real estate listings. Make a note of particular homes you are interested in and see how long they stay on the market. Also, note any changes in asking prices. This will give you a sense of the housing trends in specific areas.
Step 2: Determine How Much House You Can Afford
Lenders generally recommend that people look for homes that cost no more than three to five times their annual household income if the home buyers plan to make a 20% down payment and have a moderate amount of other debt.
Step 3: Get Prequalified and Preapproved for credit for Your Mortgage
Before you start looking for a home, you will need to know how much you can actually spend. The best way to do that is to get prequalified for a mortgage.
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the first step in the target costing process is to estimate how much a product will cost to develop. True/False
The statement is False. The target costing process actually begins with identifying the target price and target profit margin for the product. the process can be summarized as follows:
1. Determine the target price: First, research the market and understand what price customers are willing to pay for a product with the desired features and quality.
2. Establish the target profit margin: Based on the company's financial goals, set a target profit margin to ensure the product remains profitable.
3. Calculate the target cost: Subtract the target profit margin from the target price to determine the maximum allowable cost for the product.
4. Estimate the product cost: Analyze the design, materials, and manufacturing processes to estimate the actual cost of producing the product.
5. Identify cost reduction opportunities: If the estimated product cost exceeds the target cost, identify areas for cost reduction, such as design changes, material substitution, or process improvements.
6. Implement cost reduction measures: Apply the identified cost reduction strategies and monitor their effectiveness.
7. Monitor and continuously improve: Regularly review the product cost and make adjustments as needed to maintain the target cost and profit margin.
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What school did Brittany Bailey go to on a field trip that helped her decided on her career?
Answer:
she went to the school called Lord duffrent public school.
Explanation:
Answer:
Go to pad let im back
Explanation:
(i) Following exit from the EU single market, assuming the UK decides to trade only among the four nations (i.e., without rest of the world). How will the shocks listed in 'a-e' below affect the UK's (i.1) equilibrium level of output, (1.2) unemployment, (1.3) the IS curve and (1.4) the exchange rate (XR) curve (a) stock market boom (4 marks) (b) a fall in the retirement age (4 marks) (c) a decrease in depreciation rate (4 marks) (d) a natural disaster that wipes-off stock of capital (4 marks) (e) an increase in the rate of technological progress (4 marks) (ii) If we relax earlier assumption, and now assume that the UK is a small open economy, demonstrate using the 3-equation model the adjustment to equilibrium of a permanent shock to aggregate demand
(i) To analyze the effects of the listed shocks on the UK's equilibrium level of output, unemployment, the IS curve, and the exchange rate (XR) curve, we need to assess their impact individually:
a) Stock market boom: A stock market boom typically increases household wealth, leading to higher consumption and investment. This would shift the IS curve to the right, increasing the equilibrium level of output, reducing unemployment, and potentially appreciating the exchange rate.
b) Fall in the retirement age: A decrease in the retirement age would increase the labor force participation rate, potentially reducing unemployment. However, if it leads to a decrease in labor productivity or increased fiscal burdens, it may have mixed effects on output. The impact on the exchange rate would depend on the overall effect on the economy.
(ii) To demonstrate the adjustment to equilibrium from a permanent shock to aggregate demand in a small open economy, we use the 3-equation model:
Aggregate Demand (AD) equation: AD = C(Y - T) + I(r) + G + NX(e)
Monetary Policy (MP) equation: money supply growth rate = inflation rate + output gap
Exchange Rate (XR) equation: %Δ(e) = %Δ(Y) - %Δ(i*)
The adjustment process involves changes in output, interest rates, and exchange rates until equilibrium is reached.
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why don t all buses on a motherboard operate at the same speed
Buses are used to transfer data between different components on a motherboard. Not all buses on a motherboard operate at the same speed due to the following reasons:
Each bus on a motherboard has its own specifications, including the type of data that can be transferred and the maximum transfer speed. The front-side bus (FSB), memory bus, and expansion buses (such as PCI and AGP) are the three types of buses found on most motherboards. The FSB connects the processor to the memory and chipset, while the memory bus connects the memory to the chipset. Expansion buses, such as PCI and AGP, are used to connect add-on cards to the motherboard. Each of these buses operates at its own unique speed, and the speeds of the buses on a given motherboard are not always the same. The bus speeds must be coordinated to prevent conflicts and ensure that data is transferred correctly. Furthermore, the bus speeds must be compatible with the other components on the motherboard, such as the processor and memory. Finally, the speed of the buses on a motherboard can be adjusted in the system BIOS. This allows users to fine-tune their systems for optimal performance.
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5
Lacretia wants to apply for an internship with INTERPOL. As her guidance counselor, which requirements would you advise Lacretia she needs to meet
in order to achieve her goal of internship?
She must be of legal adult age in her country, reside in an INTERPOL member country, and speak fluent English.
She must be of legal age in her home country and have a post-secondary degree issued within the last three years.
OB.
O C. She must have applicable school education, be an adult in her home country, and speak English.
O D. She must be of legal age in her home country, reside in France, and speak fluent English
All rights reserved.
A.
Reset
Next
As Lacretia's guidance counselor, I would advise her that the requirements she needs to meet in order to apply for an internship with INTERPOL are:
A. She must be of legal adult age in her country, reside in an INTERPOL member country, and speak fluent English.
These requirements align with the information provided in the question, where it states that Lacretia needs to be of legal adult age in her country and must reside in an INTERPOL member country.
Additionally, fluency in English is important as it is commonly used as the working language in international organizations like INTERPOL.
Therefore, the correct answer is A.
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what sentence describes the human resources department?
1. "he builds strategies to deal with the challenge that the business faces due to the changing economic policies of the government, and market competition"
2. "he ensures that all of the company's activities and policies comply with the labor laws"
3. "he uses software applications to track production of goods. he also tried to target and reach the right custumers"
Answer:
Sentence 1 "he builds strategies to deal with the challenge that the business faces due to the changing economic policies of the government, and market competition" does not describe the human resources department specifically. It describes a management role in general, and some responsibilities may be shared between different departments such as finance, operations, marketing, etc. However, the HR department could be involved in strategizing how to manage the human capital of the company in light of the external challenges that the business is facing. The human resources department plays an important role in aligning the workforce with the business goals and objectives, and in creating policies and procedures to ensure that the company is able to adapt to changes in the external environment.
Sentence number 2 "he ensures that all of the company's activities and policies comply with the labor laws" describes the human resources department. The Human Resources department is responsible for ensuring that the company complies with labor laws and regulations, and is also responsible for managing the company's employees, including hiring, training, and benefits. The HR department also plays a key role in creating policies and procedures to ensure that the company is a fair and equitable workplace.
Sentence 3 "he uses software applications to track production of goods. he also tried to target and reach the right customers" does not describe the human resources department specifically. It describes a manufacturing or operations role, or a role in sales and marketing. The Human Resources department is responsible for managing the company's employees, including hiring, training, and benefits. The HR department also plays a key role in creating policies and procedures to ensure that the company is a fair and equitable workplace. It also ensures that the company complies with labor laws and regulations and also helps in aligning the workforce with the business goals and objectives.
Explanation:
What three factors that had a negative impact on the financial performances of unibic in its early years?
Answer:
Price of unibic, preference for other glucose biscuits, and inadequate marketing and branding campaigns had a negative impact on the financial performances of unibic in its early years
Explanation:
The three factors that negatively impacted the financial performances of unibic in its early years were as follows
a) The price of Unibic cookies was higher as compare to its other competitors.
b) During those days, glucose biscuits were preferred as compared to bakery cookies of Unibic
c) Packaging, branding and marketing not as per the public requirement
Which statement best illustrates the relationship between three different
elements of the circular flow of products?
A. Product markets offer labor to businesses, which creates jobs for
households.
B. Resource markets sell goods to product markets, which sell the
goods to businesses
C. Households pay wages to businesses, which can then set up
product markets.
D. Businesses create goods for product markets, which sell them
directly to households.
Answer: is D
Explanation:
The statement, businesses create goods for product markets, which sell them directly to households, is best illustrates the relationship between three different elements of the circular flow of products.
What is a circular flow?
The most popular version of this model displays the circular flow of revenue between the consumer and business sectors. The product market and the resource market are placed between the two.
Consumer spending is the mechanism through which households' money flows to the market for goods and services when they are in need of them. The product market purchases goods and services from companies and sells them to households, making a profit.
As a result, option (d) is correct.
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1.Discuss in detail the differences between quality of design and quality of conformance and their impact on the production cost. Also specifically, discuss how quality of design and quality of conformance differ for manufacturing and service businesses with an example for each.ANSWER=The term quality involves two complimentary variables which are quality of design and quality of conformance. Quality of design is the degree to which the designers is intending to provide its customers. In the manufacturing industry, an example of quality of design could be the difference between a Honda and a Mercedes. Both cars provide implied uses ,however both cars differ in their features and are designed for two different sets of customers. In the service industry, an example of quality of design could be the difference between an economy hotel and a five star hotel. Both provide basic need for customers ,however their different features are designed for two different customers. Quality of conformance is the degree to how well a product or service meets its specifications. In the manufacturing industry, an example of quality conformance could be a wrench that has a specific dimension for it's intended use that can be observed and measured. In the service industry, an example of quality of conformance could be the implied wait for food in the restaurant to be fifteen to twenty minutes. When the food takes thirty minutes to arrive then it can be assumed that there has been poor quality of conformance.discuss :................????
Quality of design and Quality of conformity are two complementary factors that make up the phrase "quality." The level of customer service that a designer intends to give is reflected in the quality of the design.
What is customer service?Customer service is the one-on-one interaction between a customer making a purchase and an employee of the company selling it. Most shops think that this one-on-one interaction is crucial to ensuring client pleasure and encouraging the return customers. The opportunity to communicate with a live person is still viewed as crucial by the majority of businesses even today, when a substantial amount of customer support is handled by automated self-service systems. The majority of businesses have workers who do behind-the-scenes work and never deal directly with clients. Customer service representatives are the people who speak to the customers most frequently. Customers' perceptions of the company and the product are influenced by their contact with that individual.
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3. You plan to retire 25 years later. What equal amount of money would you need to deposit in the same account at the end of every year for the next 25 years in order to accumulate $2 Million at the instant the 25th deposit is made? Assume the bank pays interest at the rate of 5% per year. 4. What equal sums of money should you invest in a bank at the end of every year for the next 10 years in order to accumulate $50,000 at the end of 10 years, that is, just when the 10 th deposit is made? Assume the bank pays interest at the rate of 12% per year compounded weekly.
To accumulate $50,000 at the end of 10 years, you would need to invest approximately $3,140.44 at the end of each year.
To calculate the equal amount of money needed to deposit in the bank for both scenarios, we can use the formula for the future value of an ordinary annuity:
Future Value = Payment × \(\left(1 + \text{{interest rate}}\right)^{\text{{number of periods}}} - 1\) ÷ interest rate
Let's calculate the amounts needed for each scenario:
Retirement Savings:
Future Value = $2,000,000
Interest Rate = 5% per year
Number of Periods = 25 years
Using the formula, we can calculate the equal amount needed to deposit each year:
$2,000,000 = Payment ×\([(1 + 0.05)^2^5 - 1]\) ÷ 0.05
Solving for Payment, we find:
Payment = $2,000,000 × 0.05 ÷ \([(1.05)^2^5 - 1]\)
Payment ≈ $40,678.91 (rounded to the nearest cent)
Therefore, to accumulate $2 million at the end of 25 years, you would need to deposit approximately $40,678.91 at the end of each year.
Investment for Accumulating $50,000:
Future Value = $50,000
Interest Rate = 12% per year (compounded weekly)
Number of Periods = 10 years
Using the formula, we can calculate the equal amount needed to invest each year:
$50,000 = Payment × \([(1 + 0.12/52)^(^5^2^*^1^0^) - 1]\) ÷ (0.12/52)
Solving for Payment, we find:
Payment = $50,000 × (0.12÷52) ÷ \([(1 + 0.12/52)^(^5^2^*^1^0^) - 1]\)
Payment ≈ $3,140.44 (rounded to the nearest cent)
Therefore, to accumulate $50,000 at the end of 10 years, you would need to invest approximately $3,140.44 at the end of each year.
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This jacket is so thin. It can't possibly keep out the rain."(Use the boomerang method.)
Answer:
The jacket is thin because it uses a fiber called thinsulate that enables it to have the lightest weight but is also the warmest.
Explanation:
In general marketing, the boomerang method refers to the 'reconstruction' of the customer's objection into the main reason for buying. In other words, using the same excuse that a customer has about a product to entice him/her to buy that product by reframing it as a selling point is known as the boomerang method.
In the given scenario, the customer's objection is about the thinness of the jacket can be used as a selling point by the salesman by stating that the lightness of the jacket is what makes it a good product. So, if the seller tells the customer "the jacket is thin because it uses a fiber called Thinsulate that makes it thin but also warm", then that will make it an interesting and important factor for the customer to like the product more.
Emily has not paid her credit card in several months. The creditor is most
likely to respond by:
OA. reducing Emily's interest rate.
B. suspending Emily's credit card.
C. garnishing Emily's wages.
D. repossessing Emily's car.
Answer:B
Explanation: Im jus cool
When more firms produce the same product, it means that
of that product is produced at a
quality
Answer:
pure competition
Explanation:
pure competition, is the simplest market structure because a large number of firms produce basically the same product at the same price, restricting the decisions and influence they have on the market. hope it helps
When firms produce the same product also with the same quality and price, it is signified as pure competition.
What is pure competition?Pure competition is a term that describes a market that has a broad range of competitors who are selling the same products. There are a large number of sellers of a product which cannot be differentiated. Therefore, no single firm can have a significant influence on price. Other prevailing conditions are ease of entry of new firms into the market and perfect market information.The best examples of a purely competitive market are agricultural products, such as corn, wheat, and soybeans.
Therefore, pure competition is the correct answer.
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Congratulation! You just won $10 million in the lottery. But instead of squandering your newfound wealth on luxury goods and a life of ease, you've decided to stay in town and be a financial friend to your neighbors, who are hardworking but never seem to have enough money to fix up their homes or buy decent cars. The best way, you decide, is to start a bank that will make home and car loans at attractive rates. On the day that you open your doors, the reserve requirement set by the Federal Reserve System is 10 percent. What's the maximum amount of money you can lend to residents of the town? What if the Fed raises the reserve requirement to 12 percent? Then how much could you lend? In changing the reserve requirement from 10 percent to 12 percent, what's the Fed trying to do -- curb inflation or lessen the likelihood of recession? Explain how the Fed's action will contribute to this goal.
Answer:
Distinguish among different types of financial institutions.
Explanation:
what happens when ethanol is refluxed with acidified sodiumheptaoxodiochromate(4) solution for a long time
Answer:
1-butanol
Explanation:
Because Worldcom's accounting fraud was brought to an end with Cynthia Cooper's intervention,
WorldCom investor and employee losses were
Answer:
Explanation:
Less
when a seismic wave crosses a boundary, it will change directions in the process of
Answer:
try refraction
Explanation:
hope it helped! :)
Answer:
When a seismic wave crosses a boundary, it will change directions in the process of Refraction.
Explanation:
Refraction is the change in direction and speed that a wave will carry when it passes from one medium to another.
When a seismic wave travels through the interior of the Earth, the direction in which it will go is determined by speed.
Refraction has an important role in this process. The deeper the place where the wave moves, the faster it will travel. What refraction does is that the path that the body waves will follow curves upwards.
In this case, refraction is the transition between the earth's mantle and the nucleus.
Cast Away Electronics paid a sum of $25,000 to an official of a foreign government to ensure that the company obtained exclusive preferential treatment for the plant it is building. The $25,000 can be classified as:____________
The payment by Cast Away Electronics to an official of a foreign government can be classified as a bribe.
Why is it a bribe?A bribe is a payment made by an entity to another entity in order to gain an unfair advantage or favor.
Cast Away Electronics wanted to gain an unfair advantage in the treatment of a plant and so paid a government official. This is therefore a bribe.
In conclusion, this is a bribe.
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During the tax year, a new partner (Julie Brown) experiences the following:
Contributes property with a tax basis of $80,000 and a fair market value of $100,000;
Has income of $8,000 allocated to her from the partnership;
Has $10,000 of partnership liabilities allocated to her from the partnership;
Takes a cash withdrawal of $5,000 from the partnership.
What is the ending value of Julie Brown's outside basis?
To calculate the ending value of Julie Brown's outside basis, account for the contributions, allocations, and withdrawals that occurred during the tax year are needed.
Beginning outside basis = 0 (since Julie Brown is a new partner)
Contributed property with a tax basis of $80,000 and a fair market value of $100,000 increase the outside basis by the contributed property's fair market value: $100,000
Allocated income of $8,000 increases the outside basis by the allocated income amount: $8,000
Allocated liabilities of $10,000 decrease the outside basis by the allocated liabilities amount: ($10,000)
Cash withdrawal of $5,000 decreases the outside basis by the amount of the withdrawal: ($5,000)
Ending outside basis = Beginning outside basis + Contributions + Allocations - Withdrawals
= $0 + $100,000 + $8,000 - $10,000 - $5,000
= $93,000
Therefore, the ending value of Julie Brown's outside basis is $93,000.
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