Answer:
The amount of money created will be $1,250,000
Explanation:
In order to find the maximum amount of money that will be created in the banking system as a result of a deposit, we need to find the money multiplier.
Multiplier = 1/reserve ration = 1/0.2 = 5
The amount of money created = Multiplier *Initial deposit
Amount of money created = 5* 250,000
= 1,250,000
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Answer:
The company should credited on the Cash account and the Cash Discount Receipt for the settlement of the inventory with 10 days.
Explanation:
The detailed entry will be:
19th Sep
Dr Account Payable $40,000
Cr Cash $39,200
Cr Cash Discount Receipt $800
( to record payable settlement and the receipt of cash discount)
Working note: As the company paying with 10 days, the supplier will allow a 2% discount on it net inventory purchase ( 44,000 - 4,000 = $40,000)
Thus, the discount will be 40,000 x 2% = $800 and Cash repayment will be 40,000 x (1-2%) = $39,200.
Answer:
a. a report on internal control
Explanation:
the sarbanes-oxley act was passed in 2002. This law serves to help protect investors and the public from fraud while giving financial reports by corporations. It was sponsored by Senator Paul Sarbanes and Representative Michael Oxley. This legislation is to help improve the reliability of corporations financial reporting as well as to help improve the confidence of shareholders and investors.
<u>This</u><u> </u><u>act</u><u> </u><u>requires</u><u> </u><u>a</u><u> </u><u>repo</u><u>rt</u><u> </u><u>on</u><u> </u><u>interna</u><u>l</u><u> </u><u>control</u><u>.</u>
The correct answer is A; Change in project scope.
Further Explanation:
The project has now changed drastically from Beta tapes to VHS. With this happening, all of the work they had did on the Beta tapes is now null. The company will now have to change the scope of their work to working with VHS tapes.
A few of the things that will have to be done to change the scope of project are;
- quality can be changed or modified
- new costs
- new tasks
- new deadlines
- more money needed to invest
- functions
Learn more about project scopes at brainly.com/question/13234457
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