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3 years ago

If a bank has a required reserve ratio of 20% and has required reserves of $300,000,000, how much does the bank hold in deposits

Business

1 answer:

matrenka [14]3 years ago

4 0

Answer:

$1,500,000,000

Explanation:

Calculation for how much does the bank hold in deposits

Using this formula

DEPOSIT=Required reserves/Reserve ratio

Let plug in the formula

DEPOSIT=$300,000,000/0.20

DEPOSIT=$1,500,000,000

Therefore how much does the bank hold in deposits is $1,500,000,000

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Explanation:

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3 years ago

Costello Corporation reported pretax book income of $500,400. During the current year, the reserve for bad debts increased by $5

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Answer:

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Calculation to determine what deferred income tax expense or benefit would be

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Let plug in the formula

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3 years ago

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3 years ago

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Answer:

Journal entries for the following will be shown below:

Explanation:

Journal entries for the wages expense is as follows:

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FICA taxes payable A/c...................Cr $2,625

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3 years ago