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Suppose a group of investors pooled $900,000 and founded Best National Bank in Cary, NC. Best National Bank used $90,000 of this to purchase shares
Suppose a group of investors pooled $900,000 and founded Best National Bank in Cary, NC. Best National Bank used $90,000 of this to purchase shares in the Richmond Federal Reserve Bank. With the remaining $810,000, the bank manager purchased a building, furniture, and equipment for the bank. Use the preceding information to complete the following table showing Best National Bank's balance sheet. Now Megan Doherty opens a new checking account at Best National Bank and makes an initial deposit of $300,000 in currency. Fill in the following table to show Best National Bank's balance sheet just after Megan's deposit
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