Answer: d. 20
Explanation:
The Money multiplier is the number that new deposits are multiplied with to find out their total effect on the banking system.
It is calculated by dividing 1 by the required reserve ratio.
Required reserve ratio = 0.5/10
= 5%
Money Multiplier = 1/5%
= 20
Answer:
From all indications,the two rents received have been posted wrongly, I want to believe that you are required to post the adjusting entries,hence my answer below:
The first $9000 was posted to deferred revenue,whereas only two months should have been
First rent:
DR Deferred revenue $3000
CR Revenue $3000
Second Rent
DR Revenue $6000
CR Deferred revenue $6000
Explanation:
The first $9000 was posted to deferred revenue,whereas only two months should have been deferred and December rent recognized as rent.
As far as the second rent is concerned only one month has been earned,as a result the revenue should be credited with just $3000 for December.
This then mean that revenue from the second property has been overstated in December by $6000,this necessitated by adjustment above.
Answer:anywhere you would think
Explanation:
At least 3 days per week with sufficient reps and sets.