The balance sheet for the newly formed ACME Bank is shown below. Reserves listed on the balance sheet are reserves on deposit at the Federal Reserve. Cash is vault cash held in the bank. Instructions: Enter your answers as a whole number. a. Fill in the missing value in the balance sheet. Assets Cash Reserves Property S $ 98,000 Answer is complete but not entirely correct. ACME Bank Balance Sheet 5,000 98,000 98,000 Liabilities and net worth Checkable deposits Stock shares $ 98,000 220,000 b. If the reserve requirement is 10 percent, how much in excess reserves is the bank holding?

The balance sheet for the newly formed ACME Bank is shown below. Reserves listed on the balance sheet are reserves on deposit at the Federal Reserve. Cash is vault cash held in the bank. Instructions: Enter your answers as a whole number. a. Fill in the missing value in the balance sheet. Assets Cash Reserves Property S $ 98,000 Answer is complete but not entirely correct. ACME Bank Balance Sheet 5,000 98,000 98,000 Liabilities and net worth Checkable deposits Stock shares $ 98,000 220,000 b. If the reserve requirement is 10 percent, how much in excess reserves is the bank holding?

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter27: Money And Banking

Section: Chapter Questions

Problem 30P: A bank has deposits of 400. It holds reserves of 50. It has purchased government bonds worth 70. It...

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Question

The balance sheet for the newly formed ACME Bank is shown below. Reserves listed on the balance sheet are reserves on deposit at
the Federal Reserve. Cash is vault cash held in the bank.
Instructions: Enter your answers as a whole number.
a. Fill in the missing value in the balance sheet.
Assets
Cash
Reserves
Property
$
Answer is complete but not entirely correct.
ACME Bank Balance Sheet
Liabilities and net worth
Checkable deposits
Stock shares
5,000
98,000
98,000
$ 98,000
220,000
b. If the reserve requirement is 10 percent, how much in excess reserves is the bank holding?
$ 98,000 O

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please give me accurate calculation and dont use chatGPT otherwise give Downvote
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