Prepare a simple balance sheet of assets and liabilities


Problem:

Assume that Banc One receives a primary deposit of $1 million. The bank must keep reserves of 20 percent against its deposits.

Prepare a simple balance sheet of assets and liabilities for Banc One immediately after the deposit is received.

Assets
Acct Name    $$

Liabilities
Acct Name    $$

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Accounting Basics: Prepare a simple balance sheet of assets and liabilities
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