Question1. Rearrange the following accounts to make a bank balance sheet for Second National Bank. What are total amounts which make the bank’s balance sheet balance?
i) Demand deposits: $20 million
ii) Government securities owned: $7 million
iii) Cash assets: $5 million
iv) Bank fixed assets: $14 million
v) Loans secured by real estate:
vi) Time and savings deposits: $30 million $40 million
vii) Commercial and industrial loans: Federal funds purchased: $18 million $6 million
viii) Owners’ capital: $6 million
ix) Other long-term liabilities: $2 million