Suppose that the bank of oranges has excess reserves of $80,000,000 and checkable deposits of $500,000,000. if the bank has a reserve requirement of 10 percent, what is the bank’s total amount of reserves? choose one:
a. $130,000,000
b. $30,000,000
c. $580,000,000
d. $0
e. $508,000,000

The following items could appear on a bank reconciliation: a. outstanding checks, $670. b. deposits in transit, $1,500. c. nsf check from customer, no. 548, for $175. d. bank collection of note receivable of $800, and interest of $80. e. interest earned on bank balance, $20. f. service charge, $10. g. the business credited cash for $200. the correct amount was $2,000. h. the bank incorrectly decreased the business's by $350 for a check written by another business. classify each item as (1) an addition to the book balance, (2) a subtraction from the book balance, (3) an addition to the bank balance, or (4) a subtraction from the bank balance.