Njanuary, knox company requisitions raw materials for production as follows: job 1 $968, job 2 $1,630, job 3 $722, and general factory use $680. prepare a summary journal entry to record raw materials used. (credit account titles are automatically indented when amount is entered. do not indent manually.)

Which of the following best describes how the federal reserve bank banks during a bank run? a. the federal reserve bank has the power to take over a private bank if customers demand too many withdrawals. b. the federal reserve bank can provide a short-term loan to banks to prevent them from running out of money. c. the federal reserve bank regulates exchanges to prevent the demand for withdrawals from rising above the required reserve ratio. d. the federal reserve bank acts as an insurance company that pays customers if their bank fails. 2b2t

Which of the following statements is correct? a. two firms with identical sales and operating costs but with different amounts of debt and tax rates will have different operating incomes by definition. b. free cash flow (fcf) is, essentially, the cash flow that is available for interest and dividends after the company has made the investments in current and fixed assets that are necessary to sustain ongoing operations. c. retained earnings as reported on the balance sheet represent cash and, therefore, are available to distribute to stockholders as dividends or any other required cash payments to creditors and suppliers. d. if a firm is reporting its income in accordance with generally accepted accounting principles, then its net income as reported on the income statement should be equal to its free cash flow. e. after-tax operating income is calculated as ebit(1 - t) + depreciation.

Fenwicke company organized and began operating a subsidiary in a foreign country on january 1, 2015, by investing lcu 40,000. this subsidiary immediately borrowed lcu 100,000 on a five-year note with 10 percent interest payable annually beginning on january 1, 2016. the subsidiary then purchased for lcu 140,000 a building that had a 10-year anticipated life and no salvage value and is to be depreciated using the straight-line method. also on january 1, the subsidiary rents the building for three years to a group of local doctors for lcu 5,000 per month. by year-end, payments totaling lcu 50,000 had been received. on october 1, lcu 4,000 was paid for a repair made on that date. the subsidiary transferred a cash dividend of lcu 5,000 back to fenwicke on december 31, 2015. the functional currency for the subsidiary is the lcu. currency exchange rates for 1 lcu follow: january 1, 2015 $ 2.00 = 1 lcu october 1, 2015 1.85 = 1 average for 2015 1.90 = 1 december 31, 2015 1.80 = 1 prepare a statement of cash flows in lcu for fenwicke’s foreign subsidiary and then translate these amounts into u.s. dollars