Choose a well-known company in sports and entertainment management that you know ?

Answer:

The answer is B. A Personal Fact Sheet is used to assist in filling out a job application accurately.

The account that is being credited in the general journal should be slightly indented within the description column, and the description should relate to the information's source.

A generic journal is a book that records basic financial transactions in a date-by-date chronological order. This is the first place a transaction is recorded. The appropriate accounts, such as those for accounts receivable, cash, or assets, are subsequently posted with the appropriate amounts.

What is meant by "generic journal"?

A general journal is a diary where all professional dealings are recorded. The moment a business transaction takes place, the general journal is updated. Transactions must be recorded in either a special journal or the ordinary journal; neither can be utilized at the same time.

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Answer:

275

Explanation:

You will add all the figures;that is;44+67+91+18+55=275

If the inflation rate was 2.60% and the nominal interest rate was 8.00% over the last year, the real rate of interest over the last year was 5.40%.

To calculate the real rate of interest, we need to subtract the inflation rate from the nominal interest rate.

Real interest rate = Nominal interest rate - Inflation rate

Real interest rate = 8.00% - 2.60%

Real interest rate = 5.40%

Therefore, the real rate of interest over the last year was 5.40%.

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Answer:product differentiation

Explanation:

Answer:

d. People face trade-offs

Explanation:

Since maria has 20 hours training in a week and the training consist of swimming, biking and running also she is not able to do three at the same time so for approaching these 3 different time she will engaged i.e. she trade off the time between these three things.

So, she sacrifice some time for each kind of the activity therefore the correct option is d.

If the U.S. government places a tariff on imported oil while the global price of oil is below the equilibrium price for the domestic oil market, domestic oil output would rise and domestic oil consumption would fall as a result of the tariff.

A domestic scarcity will emerge if the global price falls beneath this equilibrium level. By acquiring crude oil from international suppliers, we can address this scarcity.

If the price is below the equilibrium level, the amount demanded will be greater than the amount supplied. There will either be an excess of supply or a deficit.

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Answer:

A) $36,380

INCOMPLETE INFORMATION

The text from the book states:

$1.35 direct materials equivalent unit cost

$5.20 conversion cost equivalent unit cost

Explanation:

We must look at the ending work-in-process line and multiply the above equivalent cost by the units to be accounted for on each category

10,000 units x $ 1.35 materials cost = $  13,500 material cost

 4,400 units x $5.20 conversion cost = $ 22,880 converion cost

total cost 22,880 + 13,500 = 36,380

Wells Fargo is a bank that offers a wide range of financial products and services, including personal banking, small business banking, commercial banking, and wealth management.

One bank that I can identify is Wells Fargo. Wells Fargo is a multinational financial institution that provides a wide range of financial products and services to its customers. Some of the services offered by Wells Fargo include personal banking, small business banking, commercial banking, and wealth management.

In personal banking, customers can access services such as checking and savings accounts, loans, credit cards, and investment services. Small business banking provides services like business checking accounts, credit and financing, merchant services, and payroll services.

Commercial banking offers solutions such as treasury management, credit and financing, and international services. Wealth management provides investment and financial planning services to high net worth individuals and families.

Wells Fargo has several departments that play different roles in the bank. The first department is the customer service department, which is responsible for addressing customer inquiries and concerns. The second department is the operations department, which handles the day-to-day functions of the bank, such as processing transactions and managing customer accounts.

The third department is the risk management department, which is responsible for identifying and managing risks associated with the bank's operations. The fourth department is the marketing department, which is responsible for promoting the bank's products and services to potential customers.

The fifth department is the technology department, which is responsible for developing and maintaining the bank's technology infrastructure and systems.

In conclusion,  The bank has several departments that play different roles in ensuring the smooth operation of the bank, including customer service, operations, risk management, marketing, and technology.

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Answer:

Identifying transaction.

Record transaction in a journal

Posting

Unadjusted trail balanced.

Worksheets

Adjusting journal entries.

Financial statements

Closing book.

Explanation:

Hope i helped u carry on learning have a nice day

From the given data, M₁  = $57 million(for small country)

M₁ in this country amounts to -

Solution -  M₁  =  coins and currency in circulation  +  checkable (demand) deposit  +  travelers' checks

from the question we have,

coins and currency in circulation  

=  cash in public circulation  + checkable  and checking deposits

=  7  million

checkable  and checking deposits  

=  36  +  14  

=  50 million

Substituting these values in the M₁ formula, we get,

So, M₁  =  7  +  50  

=   57 million

Hence, from the given data, M₁  = $57 million

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a. An initial $500 compound-ed for 10 ye-ars at 6%.

PV= $500

I=6%

N= 10

FV=?

PMT= 0

FV = PV(1+i)^n

500(1.06)^10= $895.45

b. An initial $500 comp-ounded 10 years at 12%.

I= 12%

N= 10

PMT= 0

PV= -500

FV= ?

FV = PV(1+i)^n

500(1.12)^10= $1552.92

c. The pre-sent va lue of $500 due in 10 yea-rs at 6%

I= 6%

N= 10

PMT=0

PV=?

FV=500

PV = FV/(1+i)^n

PV = $500 / (1.06)^10

= $279

d. The pre-sent value $1,552.90 due in 10 ye-ars at %12 and at %6

I= 12% and 6%

N= 10

PMT= 0

PV= ?

FV= $1,552.90

PV = FV/(1+i)^n

PV = $1,552.90 / (1.12)^10

= $499.99

PV = $1,552.90 / (1.06)^10

= $867.13

e. Present Value

Present Value is today's value of mo-ney received at some point in the future discount-ed at current int-erest rates.

How are present values affect-ed by int-erest rates? The pre-sent value gets small-er as you incr-ease the disco-unt rate.

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Here is the trading and profit and loss account for the year ended 31/12/2014:

For the year ended 31/12/2014

Particulars Amount

Sales €485,000

Less: Cost of Goods Sold €196,000

Gross Profit €289,000

Less: Expenses

- Wages and Salaries (75%) €78,750

- General Expenses €13,000

- Stationary €4,800

- VAT €17,300

- Provision for Bad Debts €3,480

- Advertising €5,700

- Insurance €9,000

- Loan Interest €600

- PRSI/USU €10,200

Net Profit €157,370

Here is the balance sheet as at 31/12/2014:

Balance Sheet

As at 31/12/2014

Assets Liabilities

Cash €42,600

Bank €1,200

Debtors €34,800

Stock €19,000

Capital €213,570

Drawings €10,700

Building €300,000

Office Equipment €15,000

Patent €24,000

Delivery Vans €49,000

Accumulated Depreciation €28,000

Provision for Bad Debts €3,730

Loan €50,000

Profit and Loss €157,370

Total €618,570

Total €618,570

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Answer:

If you don't trust the other party, you can't resolve conflict with them. You may even come to an agreement but without trust, you won't stick to it. ... In negotiations, parties who trust each other are more likely to cooperate and reveal information that may risk vulnerability.

Answer:

Your answer is Paint is used to protect all sorts of buildings and structures from the effects of water and sun

Explanation:

Hope this helps u

Crown me as brainliest:)

The company should produce 9 bottles of Punch A and 5 bottles of Punch B in order to have a maximized profit of $51

The given parameters can be represented using the following table:

                Punch A (x)    Punch B (y)       Available

Orange       20                10                       230

Grape          5                 15                        120

Profit            4                 3

From the above table, we have:

Objective function: Max P = 4x + 3y

Subject to:

20x + 10y ≤ 230

5x + 15y ≤ 120

x , y ≥ 0

To do this, we plot the graph of the constraints

From the graph (see attachment), we have:

Punch A (x) = 9

Punch A (y) = 5

Hence, the company should produce 9 bottles of Punch A and 5 bottles of Punch B in order to maximize profit

Substitute 9 for x and 5 for y in P = 4x + 3y

This gives

P = 4 * 9 + 3 * 5

Evaluate

P = 51

Hence, the maximum profit of the company is $51

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Answer:

Explanation:A Juice Company has available two kinds of food Juices: Orange Juice and Grape Juice. The company produces two types of punches: Punch A and Punch B. One bottle of punch A requires 20 litters of Orange Juice and 5 litters of Grape Juice. 1 Bottle of punch B requires 10 litters of Orange Juice and 15 litters of Grape Juice. From each of bottle of Punch A a profit of $4 is made and from each bottle of Punch B a profit of $3 is made. Suppose that the company has 230 litters of Orange Juice and 120 litters of Grape Juice available.

Answer:

$0.43

Explanation:

                                  Equivalent Units

                                                                                         Labor

                                                                       % Completion       Units

Units Completed and Transferred out                100%             109,500

Ending Work in Process                                       25%               11,800  

Total Equivalent units                                                                 121,300  

Particulars                                         Amount

Beginning work in Process               10,700

Cost Added during May                    42,000

Total cost added during the year   $52,700

Cost per Equivalent unit = Total cost added during the year / Total Equivalent units

Cost per Equivalent unit = $52,700 / 121,300 units

Cost per Equivalent unit = 0.43446002

Cost per Equivalent unit = $0.43

The combines strategic planning, performance measurement, effective communication, and continuous improvement to support Joseph and Nicholas in their planning and controlling functions. It ensures a well-defined direction, data-driven decision-making, collaboration, and a focus on growth and adaptability.

In order to aid in the planning and controlling functions, the following approach can be recommended to Joseph and Nicholas:

1. Establish Clear Objectives and Goals: The first step in planning is to establish clear objectives and goals for the team. It is important to have a clear understanding of what needs to be accomplished and what the team's priorities are.

2. Assign Responsibilities: Assigning specific responsibilities to team members helps to ensure that everyone is working towards a common goal. Joseph and Nicholas should each be assigned to cover one area that is necessary for planning and controlling functions. This will help to ensure that all aspects of the project are covered and that there is no overlap or duplication of efforts.

3. Develop a Schedule: Developing a schedule that outlines the key milestones and deadlines for the project is essential to effective planning and control. This will help to ensure that the project stays on track and that deadlines are met.

4. Monitor Progress: Regularly monitoring progress against the schedule and objectives is necessary to ensure that the project is progressing as planned. This will help to identify any issues or problems that arise and allow for corrective action to be taken.

5. Communicate: Effective communication is critical to the success of any project. Joseph and Nicholas should establish a regular communication schedule to ensure that everyone is up-to-date on the project's progress, any issues or problems that arise, and any changes to the schedule or objectives.

6. Make Adjustments: Finally, it is important to be flexible and make adjustments as needed. If the project is not progressing as planned, adjustments may be necessary to the schedule or objectives to ensure that the project stays on track and that goals are met.

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Answer: None of above

Explanation:

Firstly, we calculate the annual dividend on the preferred stock which will be:

= 10,000 × 7% × $10

= 10,000 × 0.07 × 10

= $7000

Dividend paid to shareholders will be:

= $7000 × 2 = $14000

The dividend that goes to the common​ stockholders will now be:

= $47000 - $14000

= $33000

Therefore, the answer is none of the above

The second most effective response is, Jim decides to set the house in order. He informs his director with a status report detailing the issues, informs him that he would be talking with the client to discuss the deadlines, and needs to sit with the team to review and resolve the issues to the extent possible before the next scheduled delivery. Option a is correct.

The second most effective response would be option (a). Jim needs to communicate with the director about the situation and then address the issues with the team and client. It is important to set realistic expectations and ensure that everyone is on the same page. Ignoring the problems and pressing forward (option b) could result in further burnout and even more problems down the line.

Walking away from the project (option c) is not a good option either, as it does not address the current situation and could harm Jim's professional reputation. It is important to take responsibility and make an effort to improve the situation to the best of Jim's ability. Option a is correct.

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Answer:

A) $61,654,600

B) June 30, 2016, first coupon payment

Dr Interest expense 4,840,000

Dr Premium on bonds payable 60,000

    Cr Cash 4,900,000

C) If you use the effective interest rate, the bond premium is higher, so the actual interest expense would be lower:

June 30, 2016, first coupon payment

Dr Interest expense 4,756,406

Dr Premium on bonds payable 143,594

    Cr Cash 4,900,000

D) The actual difference between the coupon rate and the effective interest rate (with a $72,400,000 issue price) = 14% (coupon rate) - 13.93% = 0.07%.

The bond's issue price is generally determined by the market rate, but sometimes a company might believe that the interest rate applicable to them is actually different. A company might under estimate the riskiness of their operations, but the market doesn't. Generally the market rate is correct. So any variation in the coupon rate is due to a mistake by the firm. Usually companies do not make huge mistakes, if they miss on the coupon rate it generally is not significant.

Explanation:

issued $70 million face amount of 20-year, 14% stated rate bonds when market interest rates were 16%. The bonds pay interest semi-annually each June 30 and December 31, each coupon = $4,900,000

bonds market price = PV of maturity value + PV of coupons

if instead the issue price was $72,400,000 (resulting in a $2,400,000 premium), then the premium would be amortized by $2,400,000 / 40 = $60,000 during each coupon payment

if the effective interest method, (not the compound interest method), was used to amortize bond premium, then we first need to calculate the effective interest rate:

$72,400,000 - $70,000,000 = $2,400,000 / 40 = $60,000

$4,900,000 + $60,000 = $4,960,000 / {($72,400,000 + $70,000,000) / 2} = 0.0696629

bond premium discount using effective interest rate = ($72,400,000 x 0.0696629) - $4,900,000 = $5,043,594 - $4,900,000 = $143,594

The statement "Congress should lose its role in fiscal policy; it often fails to influence the money supply" offers a valid claim in direct support of the headline "Time for change: let free market forces determine the money supply."

What are market forces?

Market forces refer to the complex interactions between buyers and sellers in a market, which determine the prices and quantities of goods and services that are traded. These forces include supply and demand, as well as other factors such as competition, the cost of production, and the availability of substitutes.

The headline suggests that the current system of having Congress and the Federal Reserve (the Fed) control the money supply is not effective, and that allowing free market forces to determine the money supply might be a better approach. The statement supports this idea by arguing that Congress has not been successful in influencing the money supply, and therefore should not have a role in fiscal policy.

It's worth noting that the other statements do not directly support the headline. The first statement (Congress affects the economy through fiscal policy; controlling the money supply is unnecessary) does not address the headline's suggestion that free market forces should determine the money supply. The third statement (The Fed is just as important as Congress, as monetary policy works differently in the economy) does not address the issue of whether free market forces should be allowed to determine the money supply. The fourth statement (The Fed should be controlled by Congress, and monetary policy should be publicly voted upon) suggests a different approach to determining the money supply, rather than letting free market forces determine it.

Hence, the 2nd statement offers a valid claim on the statement, "Time for change: let free market forces determine the money supply."

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A favorable cost variance and an unfavorable cost variance are two terms used in cost management and variance analysis to assess the deviation between actual costs and planned or standard costs. Here's the difference between the two:

Favorable Cost Variance: A favorable cost variance occurs when the actual costs incurred are lower than the planned or standard costs. It indicates that the project or operation is performing better than expected in terms of cost efficiency. It is generally considered positive as it signifies cost savings or cost benefits. A favorable cost variance can result from various factors such as lower material prices, efficient resource utilization, improved productivity, or effective cost control measures.

Unfavorable Cost Variance: Conversely, an unfavorable cost variance happens when the actual costs exceed the planned or standard costs. It suggests that the project or operation is performing worse than expected in terms of cost efficiency. It indicates cost overruns or higher costs than anticipated. An unfavorable cost variance may arise due to factors like increased material prices, inefficient resource utilization, lower productivity, unexpected expenses, or poor cost management practices.

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Answer:

1. Nov 1, 2018

  Cash                                           6,000,000

     Notes Payable (short-term)                      6,000,000

2. Dec 31, 2018

  Interest Expense                       80,000

     Interest Payable                                        80,000

3. Apr 30, 2019

  Notes payable (short-term)       6,000,000

  Interest Payable                              80,000

  Interest Expense                            160,000

     Cash                                                           6,240,000

Explanation:

1. $6,000,000 cash Mattel acquired from Metropolitan Bank for signing a short-term note (matures in six months).

2. 6,000,000 x .08 x 2/12 = 80,000

   2 months (Nov and Dec) time that Mattel accrued $80,000 worth of interest.

3. The note was signed for 6,000,000.

    Interest payable is the amount that was accrued from the last year, but hasn't been paid yet for $80,000.

    Interest expense is the interest amount that is from the current year and is being repaid for $160,000.

    Cash is the total (the principal payment and the interest) that Mattel is paying the bank back for borrowing for $6,240,000.

The journal entries of the given case are given in the image below.

Journal entry is the systematic record of the accounting transactions that is commenced under the usual business in cash. It is the financial transactions.

It is also referred to as the primary accounting procedure, means the financial statement is prepared on the basis of journal entry.

Computation of the amount of journal entry:

On November 2018, the amount of $6,000,000 cash Mattel grown from Metropolitan Bank for signing a short-term note that matures in 6 months.

On December 31, 2018, Mattel accrued $80,000 worth of interest, means :

\(= \$6,000,000 \times .08 \times \dfrac{2}{12} \\= \$80,000\)

Then the amount of Cash is the total, means the principal payment and the interest is that Mattel is paying the bank back for borrowing for $6,240,000 ( \(\$6,000,000 + \$80,000 + \$160,000\)).

Therefore, the journal entries of the above transactions are given in the image below.

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Answer:

[Your Name]

[Your Position]

[Date]

Subject: Insights from our Survey - A Window into the Lives of our Valued Customers

Dear [CEO's Name],

I hope this message finds you well. I wanted to take a moment to share some fascinating insights from the recent survey we conducted among our cherished customer base. To make the data more relatable and easier to grasp, I have transformed the findings into a series of engaging visualizations. These visuals not only bring the data to life but also allow us to truly connect with our customers on a human level. Let's dive into the story behind each visualization and explore why these visual representations are crucial in understanding our customers.

Chart 1: Income Categories - Reflecting the Lives of our Customers

This insightful chart provides a glimpse into the diverse income categories of our survey respondents. As you observe the bars rise and fall, you can visualize the financial landscapes our customers navigate. From the bustling middle-income group, representing 29% of respondents, to the resilient individuals in the $75,000 to $99,999 range, accounting for 21% of participants, we gain an intimate understanding of the financial tapestry that influences their decisions.

By presenting this information in such a humanized manner, we can empathize with the varying needs and aspirations of our customers. This visualization guides us in tailoring our products and services to better address the unique challenges and aspirations of each income segment.

Chart 2: Gender Distribution - Celebrating Diversity and Inclusion

This delightful pie chart celebrates the diversity among our survey participants by highlighting their gender identities. As you glance at the vibrant slices, you witness the vibrant mosaic of our customer base. With 54% of respondents identifying as female and 46% as male, we recognize the importance of inclusivity and strive to ensure our products and services cater to the needs and desires of all genders.

Visualizations like this one allow us to see the human faces behind the data. It reminds us to embrace diversity and equality in our business operations, ensuring that every customer feels heard and valued.

Chart 3: Question Responses - Unveiling Our Customers' Voices

Within this insightful bar chart, we uncover the authentic voices of our customers through their responses to a specific question. The bars rise and fall, revealing the choices they made and their preferences. The most popular response, "5," chosen by 28% of participants, demonstrates the collective sentiment that echoes among our customers. As we observe the varying heights of each bar, we gain a deeper understanding of their thoughts and desires.

Visualizations like this empower us to hear our customers' voices loud and clear. By listening attentively to their responses, we can make informed decisions that resonate with their needs, aspirations, and desires.

In summary, these captivating visualizations humanize our survey data, enabling us to truly connect with our customers and gain invaluable insights. By considering the stories behind each chart, we ensure that our strategies, products, and services align with their lived experiences. Together, we can build lasting relationships, foster inclusivity, and deliver the exceptional experiences our customers deserve.

Thank you for your time and attention. Should you have any questions or require further information, please don't hesitate to reach out.

Warm regards,

[Your Name]

[Your Position]

Explanation:

Each of these careers can be a good choice for someone interested in "show business" as they offer opportunities to work closely within the entertainment industry and contribute to its success. They provide a chance to be involved in the operations, financial management, marketing, and promotion of films and theaters.

Senior Vice President of Theatre Operations:

This role involves overseeing the operations and management of theaters within a company. Responsibilities may include developing and implementing operational strategies, managing budgets and financial performance, coordinating with production teams, ensuring smooth theater operations, and enhancing the overall customer experience. An example of someone who holds this position is Mark Manuel, Senior Vice President of Theatre Operations at AMC Theatres.

Media Production Accountant:

A media production accountant is responsible for managing the financial aspects of film and television production. They handle budgeting, cost tracking, payroll, financial reporting, and ensuring compliance with industry regulations. Their role is crucial in managing the financial resources of a production, tracking expenses, and providing accurate financial information for decision-making. Relevant education in accounting or finance is essential for this career, and knowledge of the entertainment industry can be beneficial.

Social Media Director, Film Marketing Agency:

As a social media director in a film marketing agency, the role involves developing and implementing social media strategies to promote films. They oversee social media campaigns, manage content creation, engage with audiences, analyze performance metrics, and work closely with marketing teams. Their job is important in building an online presence, creating buzz, and engaging fans within the film industry. A background in marketing, communication, or digital media is typically desired for this role.

Each of these careers can be a good choice for someone interested in "show business" as they offer opportunities to work closely within the entertainment industry and contribute to its success. They provide a chance to be involved in the operations, financial management, marketing, and promotion of films and theaters. These roles allow individuals to work behind the scenes, making critical decisions and supporting the overall success of productions. Additionally, being part of the entertainment industry can be exciting and fulfilling for those passionate about the world of show business.

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Answer:

McDonalds! Who doesn't love them, but it's unfortunate to say that Phoenix Jumbo's staffs lacks some customers services and lack of attention towards their customers. Just because we all love mcdonalds does mean you shouldn't have a good way to treat the clients. I had a issue two times with them. I had my order on the online systems found in the store. As I was the only customer in the store they served me enough quick which I was happy but while checking my bag, they forgot to give me my chips as I had ordered a meal combo. I had to return and ask for it. Like where are you guys attention? If it was a busy day I would have understand.

Explanation:

McDonald's goods and services were in high demand by incorporating the ideas of needs and wants because it offers great customer service and use efficient marketing techniques.

McDonald's achieved a great success as it became the leader in the fast food industry with their strong focus on customer service. It offers best customers services, response to competition, and use effective marketing techniques that results in the development.

McDonald's follows a main business strategy to invest advertising & the franchising model, which yield them great profit and brand introduction among the public. It offer fast service, clean environment, higher quality products, that helps them retain their customers.

Basically, McDonalds sustains their competitive advantage by providing more value to the customer.

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The statement that is not true is D. It can be applied only to improve processes and products but not services and practices.

A service organization is an organization that offers its services rather than the products usually sold by manufacturing companies and resellers.

In a service organization the most large expense is the human cost also known as the salaries.

If it is a service or manufacturing company, the process can be improved for production of goods and the practice can also be improved.  

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Answer:

Waterways Corporation

Cost Pools                       Possible Activity Cost Drivers

Assembling                     Direct labor hours

Payroll                              Number of employees

Billing                               Number of invoices

Plant supervision            Number of factory workers

Digging trenches            Depth of trenches

Product design                Number of designs

Janitorial                          Floor space

Purchasing materials      Units of materials

Machine maintenance    Maintenance hours

Selling                              Units sold

Machine setups              Number of machine setups

Testing                            Testing hours

Molding                            Number of units molded

Welding                            Machine hours

Packaging                        Number of units packaged

Explanation:

a) Cost Pools for Waterways:

Assembling

Payroll

Billing

Plant supervision

Digging trenches

Product design

Janitorial

Purchasing materials

Machine maintenance

Selling

Machine setups

Testing

Molding

Welding

Packaging

Based on the concept of excess reserves and the available information, the amount of excess reserves the bank now has is $15,000

The excess reserve is a term that is used to describe the bank reserves held by a bank or financial institution over a reserve requirement for it set by a central bank.

Generally, the bank reserves for a commercial bank are represented by its cash holdings and any credit balance in an account at its Federal Reserve Bank.

To calculate the amount of excess reserves, we need to first determine the required reserves.

The required reserves can be calculated using the reserve ratio, which is the percentage of checkable deposits that banks are required to hold as reserves.

In this case, the reserve ratio is 20 percent. Therefore, the required reserves would be:

Required reserves = Reserve ratio * Checkable deposits

Required reserves = 0.20 * $100,000

Required reserves = $20,000

Since Third National Bank initially had reserves of $20,000, which is equal to the required reserves, there were no excess reserves.

After households deposit $15,000 in currency into the bank, the bank adds that currency to its reserves. Therefore, the bank now has $35,000 in reserves.

As there are now $35,000 in reserves and the required reserves are still $20,000, the excess reserves can be calculated as follows:

Excess reserves = Total reserves - Required reserves

Excess reserves = $35,000 - $20,000

Excess reserves = $15,000

Therefore, in this case, it is concluded that the bank now has $15,000 in excess reserves.

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The bank now has $15,000 in excess reserves.

The percentage of checkable deposits that banks must retain in reserves is known as the reserve ratio. The reserve ratio in this instance is 20 percent, which means that the bank must maintain reserves equivalent to 20 percent of its checkable deposits.

Initially, the Third National Bank has $100,000 in checkable deposits and $20,000 in reserves. If the reserve ratio is 20%, the necessary reserves would be $20,000, or 20% of $100,000.

The bank increases its reserves by $15,000 each time a household deposits money there. The bank's reserves rise by $15,000 as a result.

By deducting the required reserves from the total reserves, the amount of excess reserves is determined. After the deposit, the bank's entire reserves amount to $35,000 ($20,000 in starting reserves plus $15,000 in currency deposit). The necessary reserves still amount to $20,000.

Thus, the bank's excess reserves would be $20,000 less than its needed reserves, or $20,000 less than total reserves, or $15,000.

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