On january 1, 2013, quick stop, a convenience store, purchased a new soft-drink cooler. quick stop paid $15,380 cash for the cooler. quick stop also paid $750 to have the cooler shipped to its location. after the new cooler arrived, quick stop paid $222 to have the old cooler dismantled and removed. quick stop also paid $1,020 to a contractor to have new wiring and drains installed for the new cooler. quick stop estimated that the cooler would have a useful life of 8 years and a residual value of $500. quick stop uses the straight-line method of depreciation. required: (1) prepare any necessary journal entries to record the cost of the cooler. (2) prepare the adjusting entry to record 2013 depreciation expense on the new cooler. (3) what is the book value of the cooler at the end of 2013? (4) conceptual connection: if quick stop had used a useful life of 12 years and a residual value of $800, how would this effect depreciation expense for 2013 and the book value of the cooler at the end of 2013?

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.