In Exhibit 2, if Springfield National finds that it has excess reserves of $300, then the required reserve ratio must be: Exhibit 2 Balance Sheet of Springfield National Bank Assets Liabilities Total reserves $500 Demand deposits $1.000 |Loans $500 30 percent. 0.30 percent. 0.80 percent. 0.20 percent. 20 percent.

In Exhibit 2, if Springfield National finds that it has excess reserves of $300, then the required reserve ratio must be: Exhibit 2 Balance Sheet of Springfield National Bank Assets Liabilities Total reserves $500 Demand deposits $1.000 |Loans $500 30 percent. 0.30 percent. 0.80 percent. 0.20 percent. 20 percent.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Consider the simple Financial Intermediary (FI) balance sheet as shown below (in millions of dollars). Before the withdrawal Cash Assets Corporate Loans Total Amount $30 $170 $200 Liabilities/Equity Amount Deposits Equity Total $170 $30 $200 Suppose that depositors unexpectedly withdraw $70 million in deposits and the FI receives no new deposits to replace them. Assume that the FI cannot borrow any more funds in the short-term money markets, and because it cannot wait to get better prices for its assets in the future (as it needs the cash now to meet immediate depositor withdrawals), the FI has to sell any nonliquid assets (corporate loans) at 75 cents on the dollar. What will be the equity (in millions of dollars) of the FI after adjustments are made for the $70 million of deposit withdrawals? Assume no minimum cash reserve requirements.
Am. 113.
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For each of the past six quarters, Managers L and M have provided you with the totaldoUar value of the funds they manage, along with the quarterly contributions or withdrawals made by their clients. (Note: Contributions are indicated by positive numbers, withdrawals by negative numbers.)MANAGER l MANAGER MTotal Funds under Contributions/ Total Funds under Contributions/Quarter Management Withdrawals Management WithdrawalsInitial $500,000 $700,0001 527,000 12,000 692,000 - 35,0002 530,000 7,500 663,000 - 35,0003 555,000 13,500 621,000 -35,0004 580,000 6,500 612,000 - 35,0005 625,000 10,000 625,000 - 35,000For each manager, calculate:a. Her money-weighted returnb. Her time-weighted returnc. Estimates of her quarterly performance returns using the Dietz approximation method,assuming that contributions/ withdrawals are made exactly halfway through the quarter
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