Finance

Business & Finance
Tutor: None Selected Time limit: 3 Days

Assume that Banc One receives a primary deposit of $1million. The bank must keep reserves if 20 percent against its deposits. Prepare a simple balance sheet of assests and liabilities for Banc One immediately after the deposit is received.
Oct 23rd, 2013
Credit Liabilities: deposit accounts $1,000,000
Debit Assets: reserves $200,000
Debit Assets: cash available $800,000
Oct 23rd, 2013

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Oct 23rd, 2013
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Oct 23rd, 2013
May 25th, 2017
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