Item8 time remaining 33 minutes 19 seconds00: 33: 19 item 8item 8 time remaining 33 minutes 19 seconds00: 33: 19 peterson company's general ledger shows a cash balance of $7,660 on may 31. may cash receipts of $1,250, included in the general ledger balance, are placed in the night depository at the bank on may 31 and processed by the bank on june 1. the bank statement dated may 31 shows an nsf check for $170 and a service fee of $80. the bank processes all checks written by the company by may 31 and lists them on the bank statement, except for one check totaling $1,710. the bank statement shows a balance of $7,870 on may 31. prepare a bank reconciliation to calculate the correct ending balance of cash on may 31. (amounts to be deducted should be indicated with a minus sign.)

Uppose that the federal reserve purchases a bond for $100,000 from donald truck, who deposits the proceeds in the manufacturer’s national bank. what will be the impact of this purchase on the supply of money? the money supply will increase by $100,000. the money supply will increase by $80,000. the money supply will increase by $500,000. this action will have no effect on the money supply. if the reserve requirement ratio is 20 percent, what is the maximum amount of additional loans that the manufacturer’s bank will be able to extend as the result of truck’s deposit? the maximum additional loans is $100,000. the maximum additional loans is $80,000. the maximum additional loans is $20,000. the maximum additional loans is $500,000. given the 20 percent reserve requirement, what is the maximum increase in the quantity of checkable deposits that could result throughout the entire banking system because of the fed’s action? this action will have no effect on the money supply. the money supply will eventually increase by $80,000. the money supply will eventually increase by $500,000. the money supply will eventually increase by $100,000.

Garrett is an executive vice president at samm hardware. he researches a proposal by a larger company, maximum hardware, to combine the two companies. by analyzing past performance, conducting focus groups, and interviewing maximum employees, garrett concludes that maximum has poor profit margins, sells shoddy merchandise, and treats customers poorly. what actions should garrett and samm hardware take? a. turn down the acquisition offer and prepare to resist a hostile takeover. b. attempt a friendly merger and use managerial hubris to improve results at maximum. c. welcome the acquisition and use knowledge transfer to impart sam hardware's management practices. d. do nothing; the two companies cannot combine without samm hardware's explicit consent.

The petty cash fund has a current balance of $ 350, which is the established fund balance. based on activity in the fund, it is determined that the balance needs to be changed to $ 450. which journal entry is needed to make this change?