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i need answers ASSIGNMENT 1 Following are the balances derived from the books of ALPHA Bank at the end of the year 2020 Amounts are
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ASSIGNMENT 1 Following are the balances derived from the books of ALPHA Bank at the end of the year 2020 Amounts are in Millions of SAR Cash in vaults 100 Bank premises and other fixed assets 40 cash kept as a reserve in the Real estate owned to bank 90 central bank 30 Cash placed with other banks Deposits: 50 Time deposits 200 Saving deposits 260 Non deposit borrowings 105 Uncollected checks 20 Equity capital: Preferred stock 100 Common stock 120 General reserve 20 Securities 80 Loans to individual customers 120 to government 130 to commercial and non commercial entities 70 Plant and equipment 60 Given that: - Allowance for possible loan losses 5% of loans - Depreciation of fixed assets 10% of fixed assets - Good will of the bank=50 Required: prepare the balance sheet of ALPHA Bank at the end of the year 2020 Step by Step Solution
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