Windsor, inc. has the following transactions during august of the current year. indicate (a) the effect on the accounting equation and (b) the debit-credit analysis. aug. 1 opens an office as a financial advisor, investing $4,100 in cash in exchange for common stock. 4 pays insurance in advance for 6 months, $1,850 cash. 16 receives $400 from clients for services performed. 27 pays secretary $1,760 salary.

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

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The role of the credit department includes: a. evaluating customers' credit applications to determine whether they meet the company's approval standards. b. approving all credit applications in order to avoid losing sales. c. collecting cash from customers. d. following unwritten approval standards for processing customers' credit applications.