Suppose that the following is the list of assets and liabilities of SOLUTIONS BA

Question

Suppose that the following is the list of assets and liabilities of SOLUTIONS BANK on 31st December of 2030.

Checking Deposits: $7,468,500 Dividends due: $80,000 Cash in process of collection: $350,000 Savings Deposits: $12,500,050 Collateral seized: $500,000 Building and equipment: $1,503,000 Deposits at the Fed: $750,000 securities: $12,578,000 Borrowings: $30,000 Loans: $65,010,500 Taxes due: $20,000 small time deposits: $25,400,500 Vault Cash: $250,000 Large time deposits: $11,200,000

a) Use the above data to create the balance sheet (in the same format as in the text book - side by side assets and liabilities).

Explanation / Answer

Assets Liabilities and Capital Reserves Deposits vault cash 250000 Checkable deposits 7468500 Deposits at the Fed 750000 small time deposits 25400500 Large time deposits 11200000 Cash in the process of collection 350000 Savings Deposits 12500050 Securities 12578000 Loans 65010500 Borrowing 30000 Other Assets Other Liabilities Building and equipment 1503000 Dividends due 80000 Collateral seized 500000 Taxes Due 20000 Capital (80941500-7468500-25400500-11200000-12500050-30000-80000-20000) 24242450 Total Assets 80941500 Total Liabilities and Capital 80941500

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