Condensed financial data of Monty Company for 2020 and 2019 are presented below.
MONTY COMPANY
COMPARATIVE BALANCE SHEET
AS OF DECEMBER 31, 2020 AND 2019
2020 2019
Cash $1,810 $1,160
Receivables 1,740 1,310
Inventory 1,630 1,890
Plant assets 1,910 1,720
Accumulated depreciation (1,220 ) (1,180 )
Long-term investments (held-to-maturity) 1,280 1,420
$7,150 $6,320
Accounts payable $1,220 $920
Accrued liabilities 190 240
Bonds payable 1,420 1,580
Common stock 1,940 1,730
Retained earnings 2,380 1,850
$7,150 $6,320
MONTY COMPANY
INCOME STATEMENT
FOR THE YEAR ENDED DECEMBER 31, 2020
Sales revenue $6,960
Cost of goods sold 4,780
Gross margin 2,180
Selling and administrative expenses 920
Income from operations 1,260
Other revenues and gains
Gain on sale of investments 80
Income before tax 1,340
Income tax expense 550
Net income 790
Cash dividends 260
Income retained in business $530
Additional information:
During the year, $70 of common stock was issued in exchange for plant assets. No plant assets were sold in 2020.
Required:
1. Prepare a statement of cash flows using the indirect method.

Arapid increase in the population of a city or town is most likely to lead to which of the following? a. higher-paying jobs. b. low housing prices. c. a seller's market. d. a drop in population density. 2b2t

Barbara jones opened barb’s book business on february 1, 2010. the company specilizes in editing accounting textbooks. you have been hired as manager. your duties include maintaining the company’s financial records. the following transactions occurred in february , the first month of operations. a. received shareholders' cash contributions on february 1 totaling $16,000 to form the corporation; issued 1,000 shares of common stock. b. paid $2,400 cash on february 2 for three months' rent for office space. tip: for convenience, simply record the full amount of the payment as an asset (prepaid rent). at the end of the month, this account will be adjusted to its proper balance. c. purchased and received supplies on february 3 for $300 cash. d. signed a promissory note on february 4, payable in two years; deposited $10,000 in the company's bank account. e. on february 5, paid cash to buy equipment for $2,500 and land for $7,500. f. placed an advertisement in the local paper on february 6 for $425 cash. g. recorded sales on february 7 totaling $1,800; $1,525 was in cash and the rest on accounts receivable. h. collected accounts receivable of $50 from customers on february 8. i. on february 9, repaired one of the computers for $120 cash. tip: most repairs involve costs that do not provide additional future economic benefits. j. incurred and paid employee wages on february 28 of $420.required: set up appropriate t-accounts for cash, accounts receivable, supplies, prepaid rent, equipment, furniture and fixtures, notes payable, contributed capital, service revenue, advertising expense, wages expense, and repair expense. all accounts begin with zero balances.tip: when preparing the t-accounts, you might find it useful to group them by type: assets, liabilities, stockholders’ equity, revenues, and expenses.2. record in t-accounts the effects of each transaction in february, referencing each transaction in the accounts with the transaction letter. show the unadjusted ending balances in the t-accounts. 3. prepare an unadjusted trial balance at the end of february.4. refer to the revenues and expenses shown on the unadjusted trial balance. based on this information, write a short memo offering your opinion on the results of operations during the first month of business.

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?