Answer Happy

4 eBook Connect Problem CP 35-10 (algo) The balance sheet for the newly formed ACME Bank is shown below. ACME Bank Balance Sheet 1 Assets Liabilities and not worth Reserves 132,000 Checkable deposits 127,000 Property 239,000 Stock shares 244.000 Reference Instructions: Enter your answers as a whole number. a Toshi, the owner of Toshi's Produce, has obtained a bank loan of $52,000 to buy a new delivery truck. The amount of the loan will be added to the available balance of Toshi's checking account. What will ACME Bank's balance sheet look like immediately after the loan has been finalized? Fill in the values in the table. ACME Bank Balance Sheet 2 Assets Liabilities and net worth Reserves Checkable deposits Loans Property Stock shares b. Toshi then writes a check from his checking account to purchase the delivery truck from Bob's Motors for the entire amount of the loan $52,000. Bob's Motors deposits the check in its checking account at XYZ Bank. What will ACME Bank's balance sheet look like after the check has been processed? Fill in the values in the table below. Assets ACME Bank Balance Sheet 3 Liabilities and net worth Checkable deposits Stock shares Reserves Loans Property After all transactions are complete, how much in additional loans can ACME Bank make to its other customers? Assume the reserve requirement is 15 percent