Answer: $31.80 per machine hour
Explanation:
Based on the information that have been given in the question, since the overhead was applied by Jackson Inc., therefore, the firm's predetermined overhead rate will be:
= Budgeted factory overhead / Budgeted machine hours
= $1,272,000 / 40000
= $31.80 per machine hour
Manufacturing overhead for the month was overapplied by $3,600. The Corporation allocates any underapplied or overapplied manufacturing overhead among work in process, finished goods, and cost of goods sold at the end of the month on the basis of the manufacturing overhead applied during the month in those accounts. The work in process inventory at the end of March after allocation of any underapplied or overapplied manufacturing overhead for the month is closest to: (Round intermediate percentage computations to the nearest whole percent.)
Answer: $19,648
Explanation:
This question is missing details that I could not find so I will answer with a similar question. You can use it to answer yours.
Work in process inventory at the end of March= Work in Process - Overapplied Manufacturing overhead overhead allocated to WIP
Percentage of overhead that went towards WIP:
= Manufacturing overhead applied to WIP/ Total overhead
= 5,830 / 51,920
= 11% (nearest whole percent)
Overapplied Overhead going allocated to WIP:
= Percentage of overhead to WIP * Overapplied overhead for the month
= 11% * $4,200
= $462
Work in process inventory at end of March = 20,110 - 462
= $19,648
The Sarbanes-Oxley Act of 2002 has: Group of answer choices reduced the annual compliance costs of all publicly traded firms in the U.S. decreased senior management's involvement in the corporate annual report. decreased the number of U.S. firms going public on foreign exchanges. made officers of publicly traded firms personally responsible for the firm's financial statements.
Answer:
made officers of publicly traded firms personally responsible for the firm's financial statements
Explanation:
The Sarbanes-Oxley Act, due to corporate fraud, was created to restore investor confidence in financial markets and to fill loopholes in publicly traded companies.The law created strong audit committees for companies that traded publicly and made officials (companies) personally responsible for the accuracy of financial statements.aOn January 1, Year 1, Justo purchases 30,000 shares of the 100,000 outstanding shares of stock in Bonita Corp. for $5 per share. During the year, Bonita Corporation has $20,000 of net income and pays $4,000 in dividends. On December 31, Year 1, the value of a share of Bonita Corporation stock is $6 per share. Assuming Justo elects the fair value option to account for its investment in Bonita, what is the amount recorded as Investment in Bonita on the December 31, Year 1, balance sheet
Answer:
$180,000
Explanation:
The computation of the amount recorded as investment on the Dec 31, year 1 as follows
As the investment should be recorded at the fair value i.e.
= 30,000 shares × $6
= $180,000
Plus the amount of $30,000 that represent the unrealized gain would be recorded as the earnings for the given period
An investment, which has an expected return of 5.9%, is expected to make annual cash flows forever. The first annual cash flow is expected in 1 year and all subsequent annual cash flows are expected to grow at a constant rate of 2.5% per year. We know that the cash flow expected in 1 year from today is expected to be $4,500. What is the present value (as of today) of the cash flow that is expected to be made in 3 years from today
Answer:
$3,980.82
Explanation:
Rate per annum = 5.9%
Number of years = 3
No of compounding per annum = 1
Rate per period = 5.9%
Number of period = 3
Future value = 4500*(1+0.025)^2 = $4727.81
PV of 3 years cashflow = Fv * [1/[(1+r)^n]]
PV of 3 years cashflow = $4727.81 * [ 1 / (1+5.9%)^3]
PV of 3 years cashflow = $4727.81 * [1 / 1.059^3]
PV of 3 years cashflow = $4727.81 * 1/1.187648379
PV of 3 years cashflow = $4727.81 * 0.842000057
PV of 3 years cashflow = $3980.81628948517
PV of 3 years cashflow = $3,980.82
XYZ Inc. has a facility with six departments (A, B, C, D, E, and F). A summary of the processing sequence for 10 products and the weekly production forecasts for the products are given in the tables below. a. Develop the from-to chart based on the expected weekly production. b. Develop a block layout using SL
Answer:
hello your question is incomplete attached below is the complete question
answer : attached below
Explanation:
A) develop the from-to chart based on expected weekly production
Firstly we calculate the production quantity processed
i) Qab = 960 + 1200 + 720 + 2400 + 480 + 2400 + 3000 + 960 + 1200 = 13320
ii) Qbd = 2400 + 3000 + 1200 = 6600
B) calculate the values to be entered in cells of table attached below (develop a block layout using SLP )
Cell bc = 11400 + 6600 = 18000
Cell bd = 6600 + 3000 = 9600
Cell be = 4920 + 5400 = 10320
Cell cd = 2400 + 1200 = 3600
Cell ce = 4200 + 7800 = 12000
Cell df = 960 + 1200 = 2160
An index consists of the following securities and has an index divisor of 3.0. What is the price-weighted index return? Stock Shares Outstanding Begin Price End Price A 4,500 $ 20 $ 25 B 7,000 $ 15 $ 12 C 3,000 $ 28 $ 35
Answer:
14.29%
Explanation:
Calculation for the price-weighted index return
Price-weighted index return = [($25 + $12 + $35)/3] - [($20 + $15 + $28)/3]/[($20 + $15+ $28)/3]
Price-weighted index return =[($72/3)-($63/3)]/($63/3)
Price-weighted index return =($24-$21)/$21
Price-weighted index return =$3/$21
Price-weighted index return =0.1429*100
Price-weighted index return =14.29%
Therefore the Price-weighted index return will be 14.29%
An
is an additional feature on a rental car that is available at an extra cost.
Answer:
Yes because it will always coast more
Explanation:
My Dad teach me about that hope this help.
(Blank) exchange rates are determined by (blank)
forces and fluctuate against each other day
to day.
Dirty; government
Fixed; internal
Fixed; market
Floating; market
Answer:
Floating; market
Explanation:
A floating exchange rate system refers to the method of allowing the market forces to determine the exchange rate of a country. The government does influence the exchange rate. The market forces of demand and supply determine the exchange rate.
The foreign exchange market or Forex is the market for currencies. Demand and supply forces at the Forex fix the exchange rate of a floating currency.
Your boss on the West Coast says he needs your updated spreadsheet by 5:00 on Friday. You assume he means Pacific time, but you are working in Washington, DC. You submit your updates at 6:00 Eastern time and consider yourself two hours within the deadline. When you arrive at work on Monday morning, there is a scathing e-mail in your inbox. It turns out your boss, knowing you were in Washington, DC, was translating time for you and meant 5:00 Eastern time. This misunderstanding happened because your boss used
Answer:
equivocal terms.
Explanation:
Since in the question it is mentioned that your boss needs the updated sheet by 5:00 on friday but you presume that it means the pacific time and according to this you submit the updated at 6:00 but at the morning morning there would be a scathing email so this misunderstanding would be occured due to equivocal terms as it deals with the multiple meanings
Nissley Wedding Fantasy Corporation makes very elaborate wedding cakes to order. The owner of the company has provided the following data concerning the activity rates in its activity-based costing system: Activity Cost Pools Activity Rate Size-related$1.33per guest Complexity-related$28.42per tier Order-related$74.92per order The measure of activity for the size-related activity cost pool is the number of planned guests at the wedding reception. The greater the number of guests, the larger the cake. The measure of complexity is the number of tiers in the cake. The activity measure for the order-related cost pool is the number of orders. (Each wedding involves one order.) The activity rates include the costs of raw ingredients such as flour, sugar, eggs, and shortening. The activity rates do not include the costs of purchased decorations such as miniature statues and wedding bells, which are accounted for separately. Data concerning two recent orders appear below: Tijerina WeddingTwersky Wedding Number of reception guests 54 129 Number of tiers on the cake 2 4 Cost of purchased decorations for cake$29.30$54.84 Assuming that all of the costs listed above are avoidable costs in the event that an order is turned down, what amount would the company have to charge for the Tijerina wedding cake to just break even
Answer:
$230.02
Explanation:
Calculation for what amount would the company have to charge for the Tijerina wedding cake to just break even
Size related $69.16
($1.33 per guest × 52 guests)
Complexity-related $56.84
($28.42 per tier × 2 tiers)
Order-related $74.72
($74.92 per order × 1 order)
Cost of purchased decorations for cake $29.30
Total cost $230.02
($69.16+$56.84+$74.72+$29.30)
The amount that the company would have to charge for the Tijerina wedding cake to just break even will be $230.02
A company upgraded production machinery to collect data about the fit tolerance for assembled parts of each unit produced along with environmental data such as machine temperature, parts temperature, ambient air temperature, humidity, and atmospheric pressure. Before the upgrade, only fit tolerance data was collected. The upgrade represents an increase in
Answer: Data variety
Explanation:
Based on the information provided in the question, the answer is Data Variety. Data variety has to do with the diversity of data with regards to its collection.
This can be seen from the question where we are told that only the data for fit tolerance was collected before the upgrade but the upgrade led to the collection of environmental data as well.
Therefore, the upgrade represents an increase in data variety
When the company collected only the fit tolerance data for the upgrade, the upgrade represents an increase in Data variety
The Data variety refers to the diversity of available data during data collection.
The variety of data may either be structured, unstructured and semistructured that are gathered from different sources.
Here, only the fit tolerance data was collected from the production machinery and used to decide an upgrade on the machine.
Therefore, the Data Variety is correct because its best relates to the increase in machine upgrade.
The missing options Includes "data variety, data velocity, data veracity, data validity"
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which sentence best completes the diagram
A. the discount rate decrease
B. the money supply increases
C. the unemployment rate increases
D. the gross domestic product decreases
Answer:
B
Explanation:
taking unit 3 test right now
The sentence best completes the diagram is the money supply increases. Thus the correct option is B.
What are Treasury securities?To five different term options, Treasury Bills are a type of short-term security that offers protection and tax advantages to investors who invest money in them. The US government's complete faith and reputation are guaranteed as security for the debt obligations.
While selling securities has the reverse impact and takes money from the system, adding securities lowers rates, makes loans simpler to get and boosts economic activity.
When the Fed purchases Treasury securities, it converts them into "reserve balances," or deposits made at the Federal Reserve by a depository institution. This creates additional wealth for the economy.
Therefore, option B is appropriate.
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Suppose the price elasticity of demand for cigarettes is -0.8 and that the government can essentially set the price of cigarettes by altering the tax rate. If the government wishes to reduce the quantity of cigarettes demanded by 15 percent, how much must it raise the price of cigarettes? The government, to achieve its goal, must raise the price of cigarettes by nothing percent. (Enter your response rounded to two decimal places.)
Answer: 18.75%
Explanation:
Price elasticity of demand shows the change in quantity demanded as a result of a change in price.
If the price elasticity is negative, it means that quantity demanded and price move in opposing directions. If prices increase, quantity demanded decreases and vice versa.
Price elasticity of demand = Change in quantity demanded / Change in price
-0.8 = - 15% / x
-0.8x = -15%
x = -15% / -0.8
= 18.75%
the discount rate refers to which tool of monetary policy?
A. The ability to buy and sell treasury securities on an open market.
B. The ability to require banks to hold a certain amount of money in reserve.
C. The ability to adjust interest rates for investors who purchase stocks.
D. The ability to change the cost banks have to pay to borrow money.
Answer:
D. The ability to change the cost banks have to pay to borrow money.
Explanation:
Reserve( FED) sets the discount rate and applies it on loans to commercial banks and other institutions. Commercial banks use the discount rate as the basis for determining the interest rate to charge customers for loans issued.
The discount rate is among the monetary policy tools available for use by the FED. An increase in the discount rate leads to a rise in commercial banks' loan interest rates, thereby discouraging borrowing. Reduced borrowing reduces the money supply in the economy.
During 2020, Mike's current FICA taxable is $2,700 and will not change for the remainder of the year. As of the 48th pay, he had earned $134,400 as FICA taxable income (he had a bonus earlier in the year). Determine the amount of FICA taxes to be withheld from the next three payroll periods.
Answer:
Social Security:
Week 49 = $167.4
Week 50 = $37.20
Week 51 = $0
Medicare Tax:
Week 49 = $39.15
Week 50 = $39.15
Week 51 = $39.15
Explanation:
Note: This question is not complete. But I have found similar question on the internet and in that question we are asked to assume the Tax Caps 2020. So, we will solving this question accordingly.
Solution:
According to 2020 slabs Social Security W/H, the upper limit is $137,700, after this amount employer will not withhold social security tax.
On the other hand, there is no limit for Medicare Tax.
According to the question, we know that, Mike's Pay period per amount = $2700.
And, until 48th pay, he has earned $134,400
So,
For week 49, the amount of 2700 will be added to the net amount.
$134,400 + $2700 = $ 137,100
Hence, it does not breach the upper limit so, it will be taxed to $2700 only.
%6.2 x 2700 = $167.4
For Week 50, now the net amount is $ 137,100, and further $2700 will definitely breach the upper limit by $600.
$ 137,700 - $137,100 = $600
So, the $600 will be taxed for 6.2%
6.2% x $600 = $37.20
For week 51, there is clear breach of the upper limit, so according to the 2020 slab for social security, there will be no social security tax over the limit of $137,700. Hence, it will be 0.
Now, for Medicare Tax:
There is no limit.
And 1.45% on the FICA.
FICA earned per period = $2700
Hence,
1.45% x $2700 = $39.15 for each week.
So,
Social Security:
Week 49 = $167.4
Week 50 = $37.20
Week 51 = $0
Medicare Tax:
Week 49 = $39.15
Week 50 = $39.15
Week 51 = $39.15
On April 11 of the current year, Zack Corporation had a market price of $48 per share of common stock. Its par value was $10 per share. For the previous year, Zack paid an annual dividend of $3.90 per share. Zack's gross revenues and net income was $5,000,000 and $2,500,000, respectively. The dividend yield for Zack Corporation would be:_________a) 8%.b) 0.8%.c) 39%.d) None of these choices are correct.
Answer:
8%
Explanation:
Dividend yield is a measure of business performance, used by investors which compares dividend paid by a stock to its market share.
Given the above information,
Dividend yield = $3.90/$48 × 100 = 8.13%
Which factor has had a large impact on the decline of employment in the newspaper, periodical, book, and directory publishing industry? reading ability among U.S. citizens lack of interest in news coverage emergence of digital media all of the above
The answer is periodical and if it is not that then i am sure that it would be book.
Hope this helps !
Answer:
emergence of digital media
Explanation:
U.S. Treasury bills are available for purchase this week at the following prices (based upon $100 par value) and with the indicated maturity: $97.75, 182 days. (1) Calculate the bank discount rate (DR) on this bill if it is held to maturity. (2) What is the equivalent yield to maturity (sometimes called the bond-equivalent or coupon equivalent yield) on this Treasury bill
Answer and Explanation:
The computation is shown below:
Given that,
Price = $97.75
Time = 182 days
Face value = $100
Based on the above information
1) bank discount rate is
= (Face value - price) ÷ Face value × 365 / Time
= ($100 - $97.75) ÷ 100 × (365 / 182)
= 0.0225 × 2.005494
= 0.0451 (or) 4.51%
2) equivalent yield to maturity
= (Face value ÷ price)^365 ÷ Time - 1
= ($100 ÷ $97.75)^365 ÷ 182 -1
= 0.04669 (or) 4.66%
During the current year, the Town of Salo Alto recorded the following transactions related to its property taxes: Levied property taxes of $3,300,000, of which 2 percent is estimated to be uncollectible. Collected current property taxes amounting to $2,987,500. Collected $26,500 in delinquent taxes and $2,400 in interest and penalties on the delinquent taxes. These amounts had been recorded as Deferred Inflows of Resources in the prior year. Imposed penalties and interest in the amount of $3,750 but only expects to collect $3,100 of that amount. None is expected to be collected this year or within 30 days of year-end. Reclassified uncollected taxes as delinquent. These amounts are not expected to be collected within the first 60 days of the following fiscal year.
Question Completion:
Prepare the journal entries.
Answer:
Town of Salo Alto
Journal Entries:
Debit Property Taxes Receivable $3,300,000
Credit Unearned Property Taxes $3,300,000
To record the levying of property taxes.
Debit Uncollectible Expense $66,000
Credit Allowance for Uncollectible Property Taxes $66,000
To record the 2% allowance for uncollectible taxes.
Debit Cash $2,987,500
Credit Property Taxes Receivable $2,987,500
To record the collection of current property taxes.
Debit Cash $28,900
Credit Deferred Inflows of Resources $26,500
Credit Interest and Penalties $2,400
To record the collection of delinquent taxes with interest and penalties.
Debit Penalties and Interest Receivable $3,750
Credit Interest and Penalties $3,100
Credit Allowance for uncollectible $650
To record penalties and interest imposed.
Debit Deferred Inflows of Resources $312,500
Credit Property Taxes Receivable $312,500
To re-classify uncollected taxes as delinquent.
Explanation:
The ASC 606, as applicable to GASB, specifies when property tax revenues should be recognized in government-wide financial statements. Governmental revenue, e.g. property tax revenue, should be considered as revenue in the current period if it can be collected within that period or sixty days after the current period. If it cannot be so collected, it needs to be re-classified as delinquent.
Before prorating the manufacturing overhead costs at the end of 2016, the Cost of Goods Sold and Finished Goods Inventory had applied overhead costs of $57,600 and $21,000 in them, respectively. There was no Work-in-Process at the beginning or end of 2016. During the year, manufacturing overhead costs of $75,000 were actually incurred. The balance in the Applied Manufacturing Overhead was $78,600 at the end of 2016. If the under- or overapplied overhead is prorated between Cost of Goods Sold and the inventory accounts, how much will be the Cost of Goods Sold after the proration
Answer: $60238
Explanation:
First and foremost, we need to calculate the over applied overhead which will be the difference between the actual overhead and the applied overhead. This will be:
= $78600 - $75000
= $3600
Then, the portion allocated to the cost of goods sold will be:
= $3600 × $57600 /($57600 + $21000)
= $3600 × $57600/$78600
= $3600 × 0.7328
= $2638
Therefore, the cost of Goods Sold after the proration will be:
= $57600 + $2638
= $60238
On January 1, 2020, Scottsdale Company issued its 11% bonds in the face amount of $3,000,000, which mature on January 1, 2030. The bonds were issued for $$3,385,058 to yield 9%. Scottsdale uses the effective-interest method of amortizing bond premium. Interest is payable annually on December 31. The 12/31/23 Premium on Bond Payable balance is:
Answer:
$269,153
Explanation:
Dr Cash 3,385,058
Cr Bonds payable 3,000,000
Cr Premium on bonds payable 385,058
premium amortization year 1 = ($3,385,058 x 9%) - $330,000 = $304,655 - $330,000 = -$25,345
premium amortization year 2 = ($3,359,713 x 9%) - $330,000 = -$27,626
premium amortization year 3 = ($3,332,087 x 9%) - $330,000 = -$30,112
premium amortization year 4 = ($3,301,975 x 9%) - $330,000 = -$32,822
premium's balance = $269,153
Which actions can be performed on tables in Word? Check all that apply.
V adding rows
Vadding columns
deleting rows
deleting columns
V changing column width
aligning tables
D converting tables to text
converting tables to graphs
Answer and Explanation:
At the time of making tables in word we can do the following things
1. Rows could be added
2. Columns could be added
3. Rows could be deleted
4. Column could be deleted
5. The width of the column could be changed
but it does not allow to convert the table into text form or in graph form
Therefore only the last option would not be covered
You bought an old car a couple of years ago for $1,000 and put about $5,000 of parts and labor into improving it. You sold it yesterday for $3,000. a. How does this sale affect GDP? GDP will increase by $3,000 as a result of this transaction. increase by $4,000 as a result of this transaction. not change as a result of this transaction. increase by $5,000 as a result of this transaction. b. Which option below explains why this transaction does or does not affect GDP? Selling a used car was already counted in a previous year's GDP. is counted as a final good in GDP. "added value" to the economy. is an economic transaction.
Answer:
I dont know i need help with this to
Selling a used car was already counted in a previous year's GDP.
GDP:A monetary indicator of the market worth of all the finished goods and services produced in a nation over a given time period is called the gross domestic product (GDP). To compare living standards between countries, using a basis of GDP per capita at purchasing power parity (PPP) may be more useful, whereas nominal GDP is more useful for comparing national economies on the global market. GDP (nominal) per capita does not, however, reflect differences in the cost of living and the inflation rates of the countries. The contribution of each industry or sector to the overall GDP can also be quantified.Therefore, the correct answer is that Selling a used car was already counted in a previous year's GDP.
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Jane's Donut Co. borrowed $200,000 on January 1, 2021, and signed a two-year note bearing interest at 12%. Interest is payable in full at maturity on January 1, 2023. In connection with this note, Jane's should report interest expense at December 31, 2021, in the amount of: Group of answer choices $50,880. $0. $24,000. $48,000.
Answer:
$24,000
Explanation:
The computation of the interest expense is shown below:
= Borrowed amount × rate of interest
= $200,000 × 12%
= $24,000
We simply multiplied the borrowed amount with the rate of interest so that the interest expense could come
hence, the third option is correct
At the end of the first month of operations, the Lamar Company's accountant prepared financial statements that showed the following amounts: Assets $90,000 Liabilities 30,000 Stockholders' Equity 60,000 Net Income 11,000 In preparing the statements, the accountant overlooked the following items: a. Depreciation for the month. $4,500 b. Service revenue earned but unbilled at month-end. $1,850 c. Employee wages earned but unpaid at month-end. 450 Determine the correct amounts of assets, liabilities and stockholders' equity at month-end and net income for the month. Assets Liabilities Stockholders' Equity Net Income Answer 87,350 Answer 30,450 Answer 86,900 Answer 7,900
Answer:
Assets = $87,350
Liabilities = $30,450
Stockholders' Equity = $56,900
Net Income = $7,900
Explanation:
The correct amounts of assets, liabilities and stockholders' equity at month-end and net income for the month can be determined as follows:
Assets = Recorded asset value - Depreciation + Unbilled service revenue = $90,000 - $4,500 + $1,850 = $87,350
Liabilities = Recorded liabilities + Unpaid wages = 30,000 + 450 = $30,450
Stockholders' Equity = Recorded Stockholders' Equity - Depreciation + Unbilled service revenue - Unpaid wages = $60,000 - $4,500 + $1,850 - $450 = $56,900
Net Income = Recorded net income - Depreciation + Unbilled service revenue - Unpaid wages = 11,000 - $4,500 + $1,850 - $450 = $7,900
Note that from the above calculations, we can obtain:
Liabilities + Stockholders' Equity = $30,450 + $56,900 = $87,350
This therefore confirms the accounting equation that:
Assets = Liabilities + Stockholders' Equity = $87,350
1. On April 30, Gomez Services had an Accounts Receivable balance of $18,000. During the month of May, total credits to Accounts Receivable were $52,000 from customer payments. The May 31 Accounts Receivable balance was $13,000. What was the amount of credit sales during May
Answer:
the amount of credit sales is $47,000
Explanation:
The computation of the amount of credit sales is shown below;
= Ending balance of account receivable + cash receipts - opening balance of account receivable
= $13,000 + $52,000 - $18,000
= $47,000
Hence, the amount of credit sales is $47,000
New Hampshire adopted a tax law that in effect taxed the income of nonresidents working in New Hampshire only. Austin, a nonresident who worked in New Hampshire, claimed that the tax law was invalid. Was he correct
Answer:
He was correct. It violates equal protection, as this only applies to non-residents.
Explanation:
From the question we are informed about New Hampshire which adopted a tax law that in effect taxed the income of nonresidents working in New Hampshire only. Austin, a nonresident who worked in New Hampshire, claimed that the tax law was invalid. In this case, He was correct since It violates equal protection, as this only applies to non-residents. Income Tax Act can be regarded as an act that governs tax charged which applies to income of individuals, body of individuals as well as famies. The Section 1 of this Act state that tax is an obligation that needed to be fulfilled to State Inland Revenue Service in as much the the individual resides there.
A point inside the production possibilities curve is: A) attainable and the economy is efficient. B) attainable, but the economy is inefficient. C) unattainable, but the economy is inefficient. D) unattainable and the economy is efficient. Group of answer choices
Answer:
B) attainable, but the economy is inefficient.
Explanation:
In the case when there is a point that inside in the production possibility curve so it is attainable but there is non-efficient economy
Therefore according to the given options, the option B is correct
And, the rest of the options are wrong
So the same would be relevant too
A deposit of $100,000 is made to an investment account today. At the end of each of the next four years, $10,000 must be paid out to a beneficiary, and the account liquidated at the end of year four. If the liquidation value is $100,000, the account has earned an annual internal rate of return of ___________%. (percent, rounded three places after the decimal)
Answer:
14.06%
Explanation:
Assume their is a cash out flow today of $100000, and next four year annual cash inflow of 10000 and 120000 at the end of year 4.
We can use IRR formula to find the interest rate.
year cashflow
0 -100000
1 10000
2 10000
3 10000
4 130000
IRR 14.06%
The calculation has been done on excel sheet
Banks use a large percentage of their checkable deposits for the purpose of __________.
A.
paying interest
B.
giving loans
C.
employee salaries
D.
maintaining reserves
Answer:
the answer is D.
Maintaining reserves
