The bank is holding $19.5 million in excess reserves.
Explanation:
If the bank has $300 million is deposits and the reserve ratio is 8.5% then the bank needs to have minimum reserves of 8.5% of 300 million so the minimum reserves are 0.085*300 million = 25.5 million
How ever the actual reserves of the bank is the difference between deposits and loans. The deposits are 300 million and loans are 255 million so the actual reserves are 300 million-255 million= $45 million
Excess reserves is the difference between the actual reserves and the minimum reserves so 45 million - 25.5 million = 19.5 million.
Based on the information provided within the question it can be said that the correct steps that are used by the FASB in developing GAAP (generally accepted accounting principles) would be the following: issuing a discussion memorandum, issuing an exposure draft, and issuing a statement of principle. This collection of accounting rules was then adopted by the U.S. Securities and Exchange Commission.
Answer: Immediately inform Nissan of the breach in confidentiality
Explanation:
A breach of confidentiality is a situation that occurs when the data or information that has been provided by a certain client to an individual in confidence is made known without the consent of the client to a third party. It should be noted that this can lead to harm to the client.
Therefore, if a Dealer Principal learns a manager has revealed the details from a dealer advisory board meeting to a competitor’s dealership, the appropriate response is to inform Nissan of the breach in confidentiality.
She can deduct the full $120,000. the answer is $120,000.
Explanation:
Therefore, M is following cash basis of accounting , She can deduct the full $120,000 amount. Under cash system, expenses are recorded when cash is paid irrespective of whether it is accrued or not.
