FOCUS ON PERSONAL FINANCE LL/ACCESS >BI
6th Edition
ISBN: 9781260529326
Author: Kapoor
Publisher: McGraw-Hill Publishing Co.
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Chapter 2, Problem 2P
a)
Summary Introduction
To determine: The amount of total liquid assets.
b)
Summary Introduction
To determine: The amount of total liquid liabilities.
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Students have asked these similar questions
Calculate the missing value (in $) according to the accounting equation.
Assets
Liabilities
Owner's Equity
$15,808,000
$8,338,500
$
If you have the following account balances, how much are your current assets? Cash $5,921; Building $100,000; Accounts Payable $10,723; Accounts Receivable $25,783; Common Stock $200,000
Q1. The following data pertain assets and liabilities for Sohar Bank as of December, 31,2019 (in thousands)
Cash OR 10,000
Deposits OR 74,000
Securities OR 25,000
Other liabilities OR 19,000
Total loans OR 80,000
Losses OR 1,250
Other real estate owned OR 500
Owners’ equity OR 7,000
Other assets OR 10,750
Other data related to revenues and expenses
Interest and fees on loans OR 9,100, Interest on securitiesOR 2,340, Other interest income OR 260 , Service chargesOR 520
Other non-interest income OR 780 , Interest on depositsOR 5,200 , Other interest expense OR 2,600 , Salaries and benefits OR 1,300
Provision for loan losses OR 390 , Other non-interest expense OR 2,210,
Required :
Prepare a balance sheet and income statement for the bank as of December, 31, 2019.
(Income tax rate 20%)
Chapter 2 Solutions
FOCUS ON PERSONAL FINANCE LL/ACCESS >BI
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