QUESTION 21LAST CHANCE BANK OF TOMBSTONEBALANCE SHEETASSETSLIABILITIES &NET WORTHdemand deposits:cash in the vault:deposits at FedUS treasury bonds:$5,000,000$900,000$100,000$300,000$3,700,000$2,000,000loans:Building:capital stock:$2,000,000TOTALS:$7,000,000TOTALS:$7,000,00021. If the required reserve ratio is 10%, what is the level of excess reserves this bank holds?O $900,000$1,000,000$1,300,000$500,000$400,000

Excess reserve = Total Reserve - Required reserve Total Reserve = 900,000 Required Reserve =…

QUESTION 21 LAST CHANCE BANK OF TOMBSTONE BALANCE SHEET -- ASSETS LIABILITIES & NET WORTH cash in the vault: deposits at Fed US treasury bonds: loans: Building: demand deposits: $900,000 $100,000 $300,000 $3.700,000 $2.000,000 $7,000,000 $5,000,000 capital stock: TOTALS: $2,000,000 $7,000,000 TOTALS: 21. If the required reserve ratio is 10%, what is the level of excess reserves this bank holds? $900,000 O $1,000,000 O $1,300,000 $500,000 O $400,000

QUESTION 21 LAST CHANCE BANK OF TOMBSTONE BALANCE SHEET -- ASSETS LIABILITIES & NET WORTH cash in the vault: deposits at Fed US treasury bonds: loans: Building: demand deposits: $900,000 $100,000 $300,000 $3.700,000 $2.000,000 $7,000,000 $5,000,000 capital stock: TOTALS: $2,000,000 $7,000,000 TOTALS: 21. If the required reserve ratio is 10%, what is the level of excess reserves this bank holds? $900,000 O $1,000,000 O $1,300,000 $500,000 O $400,000

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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