g Suppose the required reserve ratio is 8%, currency in circulation is $500 billion, checkable deposits are $1000 billion, and excess reserves are $20 billion. a. (9 points) Calculate the money multiplier, the currency deposit ratio, and the excess reserve ratio. b. (5 points) If the Fed sells $600 billion of bonds and the ratios in part a remain the same, what is the effect on the money supply

Ronald works for a small biotech firm. when the firm presents the results of its clinical trials to the fda, ronald realizes that the results are not accurate. he reports this to the fda. ronald is a(n)

On february 3, smart company sold merchandise in the amount of $5,800 to truman company, with credit terms of 2/10, n/30. the cost of the items sold is $4,000. smart uses the perpetual inventory system and the gross method. truman pays the invoice on february 8, and takes the appropriate discount. the journal entry that smart makes on february 8 is:

Lynch company manufactures and sells a single product. the following costs were incurred during the company’s first year of operations: variable costs per unit: manufacturing: direct materials $ 12 direct labor $ 6 variable manufacturing overhead $ 1 variable selling and administrative $ 1 fixed costs per year: fixed manufacturing overhead $ 308,000 fixed selling and administrative $ 218,000 during the year, the company produced 28,000 units and sold 15,000 units. the selling price of the company’s product is $56 per unit. required: 1. assume that the company uses absorption costing: a. compute the unit product cost. b. prepare an income statement for the year. 2. assume that the company uses variable costing: a. compute the unit product cost. b. prepare an income statement for the year.