Answered step by step
Verified Expert Solution
Question
1 Approved Answer
8. The following balance sheet accounts (in millions of dollars) have been taken from the annual report for a U.S. bank. Arrange the accounts in
8. The following balance sheet accounts (in millions of dollars) have been taken from the annual report for a U.S. bank.
Arrange the accounts in balance sheet order and determine the value of total assets.
Based on the balance sheet structure, would you classify this bank as a community bank, regional bank, or money center bank?
Premises | $ 1,078 | Net loans | $ 29,981 | |
Savings deposits | 3,292 | Short-term borrowing | 2,080 | |
Cash | 2,660 | Other liabilities | 778 | |
NOW Axxounts | 12,816 | Equity | 3,272 | |
Long-term debt | 1,191 | Investment securities | 6,092 | |
Other assets | 1,633 | Demand deposits | 5,939 | |
Other time deposits | 2,333 | Certificates of Deposit (under $100,000) | 9,853 | |
Federal funds sold | 110 |
See the attached Excel File for the question
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started