2. (25 points) Determine whether each of the following belongs on the asset side or the...
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2. (25 points) Determine whether each of the following belongs on the asset side or the liability side of the balance sheet identified in parentheses. a. $20,000 loan for a new automobile (balance sheet for an individual) (5 points) b. 10-year government bonds (balance sheet for a bank) (5 points) c. $1,000 checking account (balance sheet for a bank) (5 points) d. $500 in Federal Reserve notes- also known as cash! (balance sheet for an individual) (5 points) e. $10,000 student loan (balance sheet for a bank) (5 points) 2. (25 points) Determine whether each of the following belongs on the asset side or the liability side of the balance sheet identified in parentheses. a. $20,000 loan for a new automobile (balance sheet for an individual) (5 points) b. 10-year government bonds (balance sheet for a bank) (5 points) c. $1,000 checking account (balance sheet for a bank) (5 points) d. $500 in Federal Reserve notes- also known as cash! (balance sheet for an individual) (5 points) e. $10,000 student loan (balance sheet for a bank) (5 points)
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