Answered: Assume Intervale Railway is considering…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter2: Building Blocks Of Managerial Accounting

Section: Chapter Questions

Problem 12EB: Able Transport operates a tour bus that they lease with terms that involve a fixed fee each month...

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Assume Intervale Railway is considering hiring a reservations agency to handle passenger reservations. The agency would charge a flat fee of $13,000 per month, plus $3 per passenger reservation. What is the total reservation cost if 200,000 passengers take the trip next month?

a. $613,000

b. $3.07

c. $600,000

d. $13,000

Definition Definition Capital reserves held by banks or financial institutions over and above the reserves that are required to be maintained by the regulator toward its liabilities and for internal controls. For commercial banks, excess reserve is the amount over the standard reserve as decided by the central bank. These excess reserve funds are available in the form of cash and cash equivalents.

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