Answer:
$335,000; $1,425,000
Explanation:
Record cost of the land as follows:
= Cost of purchasing parcel of land + Demolition of old building + Legal fees - value of Salvaged materials sold
= 320,000 + 20,000 + 5,000 - 10,000
= $335,000
Record cost of the new building as follows:
= Architect's fees + Construction costs
= 35,000 + 1,390,000
= $1,425,000
Answer:
Thiru Sandeep Saxena, IAS, Additional Chief Secretary to Government, Environment and Forests Department, Government of Tamil Nadu.
Answer: Cross Shopping
Explanation: Cross shopping is a technique there a single consumer plays around different suppliers to get the goods of his/her liking. It involves having conflicting needs and purchasing premium and budget products. In this case,Calvin loves eating at mcdonald's claiming they have the best fries, but for dessert he likes to eat cakes only at kaminsky's. Since, Calvin is shopping from different suppliers to get the products of his liking his behavior will be called cross shopping.
The required reserve ratio is 10 percent, currency in circulation is $400 billion, checkable deposits are $800 billion, and excess reserves total $0.8
If the required reserve is 10%, the currency reserve multiplier is 10 and the currency supply should be 10 times the reserve. A reserve requirement ratio of 10% also means that banks can lend out 90% of their deposits.
The reserve ratio can be calculated by simply dividing the amount a bank must hold in reserves by the amount the bank has on deposit. For example, if he has $10 million in bank deposits and needs to hold $500,000 in reserves, the required reserve ratio is 1/20, or 5%.
The ratio of required reserves to deposits. A reserve ratio of 10% means that banks must hold 10% of their deposits as a reserve.
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