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Che The balance sheet for the newly formed ACME Bank is shown below ACME Bank Balance Sheet1 Assets Liabilities and net worth Reserves $ 110,000
Che The balance sheet for the newly formed ACME Bank is shown below ACME Bank Balance Sheet1 Assets Liabilities and net worth Reserves $ 110,000 Checkable deposits $ 106,000 Property 251.000 Stock shares 255,000 Instructions: Enter your answers as a whole number a Toshi, the owner of Toshi's Produce, has obtained a bank loan of $36,000 to buy a new delivery truck. The amount of the loan will be added to the available balance of Toshi's checking account. What will ACME Bank's balance sheet look like immediately after the loan has been finalized? Fill in the values in the table ACME Bank Balance Sheet2 Liabilities and net worth S 110.000 Checkable deposits $ 36,000 Stock shares 5 251.000 Assets Reserves Loan Property $ 106.000 25 $ b. Toshi then writes a check from his checking account to purchase the delivery truck from Bob's Motors for the entire amount of the Toan $36.000 Bob's Motors deposits the check in its checking account at XYZ Bank. What will ACME Bank's balance sheet look like after the check has been processed? Fill in the values in the table below. ACME Blank Balance Sheet Latities and net worth $ 74.000 Checkable deposits $ 36.000 Stock shares 5 251 000 $ Assets Reserves Loans Property 10 5 25 After all transactions are complete, how much in additional loans can ACME Bank make to its other customers? Assume the reserve requirement is 12 percent 01280
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