Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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

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 a money center bank? (LG 11-6)

Premises

$1,078

Net loans

$29,981

Savings deposits

3,292

Short-term borrowing

2,080

Cash

2,660

Other liabilities

778

NOW accounts

12,816

Equity

3,272

Long-term debt

1,191

Investment securities

5,334

Other assets

1,633

Demand deposits

5,939

Intangible assets

758

Certificates of deposit (under $100,000)

9,853

Other time deposits

2,333

Federal funds sold

110

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Peace Love Auditing Journal

Authors: Epic Love Books

1st Edition

1697161693, 978-1697161694

More Books

Students also viewed these Accounting questions

Question

What is the relationship between humans?

Answered: 1 week ago

Question

What is the orientation toward time?

Answered: 1 week ago