can you please fill new for both sides with steps in detail. 8. Bank...
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can you please fill new for both sides with steps in detail.
8. Bank A is in London. Bank B is in New York. The current exchange rate is 1.00 = $1.25. Show the correct balances in each account if a currency trader employed at Bank A buys 200m from a currency trader at Bank B for $250 settled using its correspondent relationship Bank A (London) 000s Assets Liabilities and Equity OLD NEW OLD NEW deposit at B 300 B's $ deposit $580 $ deposit at B $800 B's deposit 600 Cash in the Vault 600 Other Liabilities 300 Other Assets 400 Owners' Equity 576 Total Assets 1.940 Total Liabilities & Equity 1,940
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