Rearrange the following accounts to construct a bank balance sheet for the Second National Bank. What are

Question:

Rearrange the following accounts to construct a bank balance sheet for the Second National Bank. What are the total amounts that make the bank’s balance sheet “balance”?

Demand deposits: $20 million

Cash assets: $5 million

Loans secured by real estate: $30 million

Commercial and industrial loans: $18 million

Owners’ capital: $6 million

Securities owned: $7 million

Bank fixed assets: $14 million

Time and savings deposits: $40 million

Federal funds purchased: $6 million

Other long-term liabilities: $2 million

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...