Following are selected balance sheet accounts for Third State Bank:
vault cash � $2 million; U.S. government securities � $5 million;
demand deposits � $13 million; nontransactional accounts � $20
million; cash items in process of collection �$4 million; loans to individuals
�$7 million; loans secured by real estate �$9 million; federal
funds purchased �$4 million; and bank premises �$11 million
Following are selected balance sheet accounts for Third State Bank:
vault cash � $2 million; U.S. government securities � $5 million;
demand deposits � $13 million; nontransactional accounts � $20
million; cash items in process of collection �$4 million; loans to individuals
�$7 million; loans secured by real estate �$9 million; federal
funds purchased �$4 million; and bank premises �$11 million
Following are selected balance sheet accounts for Third State Bank:
vault cash � $2 million; U.S. government securities � $5 million;
demand deposits � $13 million; nontransactional accounts � $20
million; cash items in process of collection �$4 million; loans to individuals
�$7 million; loans secured by real estate �$9 million; federal
funds purchased �$4 million; and bank premises �$11 million
Based on the provided information, the selected balance sheet accounts for Third State Bank are as follows:
1. Vault cash: $2 million
2. U.S. government securities: $5 million
3. Demand deposits: $13 million
4. Nontransactional accounts: $20 million
5. Cash items in process of collection: $4 million
6. Loans to individuals: $7 million
7. Loans secured by real estate: $9 million
8. Federal funds purchased: $4 million
9. Bank premises: $11 million
To determine the total assets of Third State Bank, you need to calculate the sum of all the listed balance sheet accounts:
1. Start by adding up the cash-related assets:
- Vault cash: $2 million
- U.S. government securities: $5 million
- Cash items in process of collection: $4 million
Total cash-related assets = $2 million + $5 million + $4 million = $11 million
2. Next, calculate the total loan assets:
- Loans to individuals: $7 million
- Loans secured by real estate: $9 million
Total loan assets = $7 million + $9 million = $16 million
3. Add up the other assets:
- Demand deposits: $13 million
- Nontransactional accounts: $20 million
- Federal funds purchased: $4 million
- Bank premises: $11 million
Total other assets = $13 million + $20 million + $4 million + $11 million = $48 million
4. Finally, calculate the total assets by adding all the calculated values together:
Total assets = Total cash-related assets + Total loan assets + Total other assets
Total assets = $11 million + $16 million + $48 million = $75 million
Therefore, the total assets of Third State Bank are $75 million.