Using the spreadsheet, setup the balance sheet for Eagle Bank when the reserve requirement is 10 Equity 20, Securities 70, Savings deposits 10, Personal Loans 40, Retained earnings 20, Time deposits 30, Home mortgages 60, Demand deposits 100 Assets Liabilities Securities 70 Equity 20 Personal Loans 40 Savings Deposits 10 Home Mortgages 60 Retained Earnings 20 Cash reserves (10 of deposits) 14 Time Deposits 30 Cash with bank 96 Demand Deposits 100 Total 280 Total 280 I am confused on if my cash with bank and reserves are correct Saw someone say that the mortgages are liabilities, but my prof specified they're assets

The Answer is in the image, click to view ...

Question: Using the spreadsheet, setup the balance sheet for Eagle Bank when the reserve requirement is 10%: Equity 20, Securities 70, Savings deposits 10, Personal Loans

Using the spreadsheet, setup the balance sheet for Eagle Bank when the reserve requirement is 10%: Equity 20, Securities 70, Savings deposits 10, Personal Loans 40, Retained earnings 20, Time deposits 30, Home mortgages 60, Demand deposits 100.

Assets		Liabilities
Securities	70	Equity	20
Personal Loans	40	Savings Deposits	10
Home Mortgages	60	Retained Earnings	20
Cash reserves (10% of deposits)	14	Time Deposits	30
Cash with bank	96	Demand Deposits	100

Total	280	Total	280

I am confused on if my cash with bank and reserves are correct. Saw someone say that the mortgages are liabilities, but my prof specified they're assets.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

With the following information Setup the balance sheet for Eagle Bank when the reserve requirement is 10%Equity 20, Securities 70, Savings deposits 10, Personal Loans 40Retained earnings 20, Time...

1-With the following information Setup the balance sheet for Eagle Bank when the reserve requirement is 10%Equity 20, Securities 70, Savings deposits 10, Personal Loans 40Retained earnings 20, Time...

Not every part of the form need to be filled out. So please read the direction carefully. thank you. Forms to Complete (2015) Form 1065 (not Schedule B) Schedule Dand Forms 8949 Form 1125-A Schedule...

Use the information presented to prepare a Form 1065 and Schedule D. Also prepare one Schedule K-1 (on form 1065) for Ms. Maine. ACCT 346 Spring 2014 Tax Return Case Study Part 2 -- Form 1065 During...

IfyouhaveplayedaSimulationcalledProBankerIneedhelpansweringthesequestionsassoonaspossible from the pro bankerassignment attachment..please use spreadsheet and players manual for reference. Need...

Consider a regional bank, Central Rhode Island Savings and Loan, that has three types of liabilities: (i) checking accounts, (ii) savings accounts and (iii) commercial paper. The banks...

Just Want to see how the calculations are made. The next 3 questions are based on the following information. The following table lists all assets or liabilities (in millions of dollars) on the...

It is July 2024, and you are a newly qualified Chartered Accountant working for Two Creek Wines Pty Limited (Two Creek Wines), a privately-owned family winery that has vineyards in the Yarra Valley....

1. The Securities Act of 1933: A. Provides for transparency in financial statements B. Prohibits misrepresentation and fraudulent activities C. Was followed by the Securities and Exchange Act which...

Jojo Photography reported net income of $100,000 for 2014. Included in the income statement were depreciation expense of $4,000, amortization expense of $3,000, and a gain on disposal of plant assets...

Using the information in E21-3, assume that in July 2012, Thome Company incurs the following manufacturing overhead costs. Instructions (a) Prepare a flexible budget performance report, assuming that...

Bunny Ltd is a beverage company in the production of soft drinks. It is considering acquiring a new production line for its product. The new production line is expected to cost $ 4 0 0 0 0 0 but will...

10) For a bond that pays cash interest (i.e., not a zero coupon bond), YTM is (a) always equal to the coupon rate (b) always equal to the current yield (c) is always less than the coupon rate (d) can...

Teamwork. Picture yourself as the author of the Ask Andy column in your school paper. You receive a letter that says, My boss is always suggesting ways for me to do my job better.When I mentioned...

Teamwork. Virtual teams are growing as an organizational phenomenon, and web-assisted technologies are being used to facilitate their work.Research several businesses in your city to see whether they...

For each of the following situations, give a verbal and nonverbal example of a passive reponse, an aggressive response, and an assertive response. (Objective 2) a. You bought a new gas grill at the...