Ontario Resources, a natural energy supplier, borrowed $80.9 million cash on November 1, 2021, to fund a geological survey. The loan was made by Quebec Banque under a short-term financing arrangement. Ontario Resources issued a 9-month, 12% promissory note with interest payable at maturity. Ontario Resources' fiscal period is the calendar year. Required: 1. Prepare the journal entry for the issuance of the note by Ontario Resources. 2.

At the save the fish nonprofit organization, jenna is responsible for authorizing outgoing payments, rob takes care of recording the payments in the organization's computerized accounting system, and shannon reconciles the organization's bank statements each month. this internal accounting control is best known as a(n) a. distribution process. b. segregation of duties c. specialized budget d. annotated financial process

Which of these is true about a mandated reporter

Select the correct answer. after the 2008 recession, the amount of reserves in the us banking system increased. because of federal reserve actions, required reserves increased from $44 billion to $60 billion. however, banks started holding more reserves than required. by january 2009, banks were holding $900 billion in excess reserves. the federal reserve started paying interest on the excess reserves that the banks held. what possible impact will these unused reserves have on the economy? a. the interest rate on loans will fall. b. people will demand more foreign goods. c. people will start borrowing more money. d. the economy will face inflation. e. foreign investments will increase.