Return to question The balance sheet for the newly formed Last National Bank is shown below. Reserves listed on the balance sheet are reserves on deposit at the Federal Reserve. Cash is vault cash held at the bank. Last National Bank Balance Sheet 1 Liabilities and net worth Assets Cash 8,000 Checkable deposits $ 138,000 Reserves 140,000 Stock shares 305,000 Property 295,000 Instructions: Enter your answers as a whole number. a. Suppose a depositor at the bank writes a check for $19,000 to pay a contractor for some remodeling work done on her home. The contractor deposits the check in his bank (which is a different bank). What will Last National Bank's balance sheet look like after the check clears? Record the values in the table below. Answer is complete and correct. < Prev 3 of 21 Next > Return to question Instructions: Enter your answers as a whole number. a. Suppose a depositor at the bank writes a check for $19,000 to pay a contractor for some remodeling work done on her home. The contractor deposits the check in his bank (which is a different bank). What will Last National Bank's balance sheet look like after the check clears? Record the values in the table below. Answer is complete and correct. $ 8,000 Assets Cash Last National Bank Balance Sheet 2 Reserves Property $ 121,000 ( $ 295,000 ( Liabilities and net worth Checkable deposits Stock shares $ 119,000. $ 305,000 b. If the reserve requirement is 12 percent, what is the total amount of excess reserves held by Last National Bank after the check clears? $106720 < Prev 3 of 21 Next >