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Question: Excess reserves are insurance from deposit outflow. Suppose you hold 15 million required reserves and 45 million excess reserves at the central bank. The total interest payment on reserves from the central bank is 0.3%. If you do not hold your excess reserves at the bank, you may take loans and earn 4% in average. What is the cost of holding excess reserve at the central bank in terms of dollar amount (not in terms of million)?
Round your final answer to two decimals, do not include any commas to separate thousands, and exclude the $ sign. e.g. write $1.25 million as 1250000
during the year belyk paving co. had sales of 2394000. cost of goods sold administrative and selling expenses and
1.On January 1, 2006, Mason Co. entered into a 12 year lease on a building.
Sarah owns 100 shares of Drake,Inc. (adjusted basis of $50,000). On October 11, 2010, she sells the 100 shares for their fair market value of $45,000. On November 5, 2110, she purchases 125 shares of Drake stock for $57,000. a) What is Sarah's rea..
1) Juan Co. has two ongoing lawsuits and is in the process of preparing its financial statements. In one of the lawsuits against Juan, the lawyers indicate that it is probable that a loss estimated to be 1,000,000 will be resolved soon.
crede inc. has two divisions. division a makes and sells student desks. division b manufactures and sells reading
Prepare the journal entry to record income tax expense, deferred income taxes, and income taxes payable for 2011, assuming taxable income of $325,000.
Journalize the following selected transaction in a 2 column journal using the appropriate item number identify them. Explanations may be omitted.
If the activity is deemed to be a hobby, what is the amount of Lew's expenses (if any) from the activity that may be deducted
Luol Company has budgeted the following amounts for sales in 2008: Assuming this pattern continues, compute the amount of cash to be received in May and June
Baker Corp incurred $2,000 of initial direct costs, which are payable on February 1, 2019. How should Baker Corp measure and record this lease
During the year, company purchased $305,000 of materials; however, it paid for only $292,500. How much inventory was requisitioned for use on jobs during 2010
If the 2010 corporate tax system continues over the project life, determine the combined state and federal income tax rate each year
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