Business and Finance - Calculate total assets and liabilities

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Question description

5. Following are selected balance sheet accounts for Third State Bank: Vault Cash = \$2 million; US government securities = \$5 million; demand deposits = \$13 million; non transactional accounts = \$20 million; cash items in process of collection = \$4million; loans to individuals = \$7 million; loans secured by real estate = \$9 million; federal funds purchased = \$4 million; and bank premises = \$11 million. a.From these accounts, select only the asset accounts and calculate the bank’s total assets. b.Calculate the total liabilities for Third Bank State. c.Based on the totals for assets and liabilities, determine the amount in the owner’s capital account.

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