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net cash used in operating activities was $10,000. net cash provided by investing activities was $2,000. net cash provided by financing activities was $5,000. the cash balance at the end of the year was
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34 votes
net cash used in operating activities was $10,000. net cash provided by investing activities was $2,000. net cash provided by financing activities was $5,000. the cash balance at the end of the year was $12,000. the cash balance at the beginning of the year was $ .

User Square Ponge
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2 Answers

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20 votes

Final answer:

A T-account balance sheet for the bank lists assets which include reserves, government bonds, and loans totaling $620, and liabilities which consist of deposits totaling $400. Subtracting liabilities from assets gives a net worth of $220 for the bank.

Step-by-step explanation:

To set up a T-account balance sheet for the bank, we'll list the bank's assets on one side and liabilities on the other. The net worth, or equity, is calculated by subtracting the total liabilities from the total assets.

Assets:


  • Reserves: $50

  • Government Bonds: $70

  • Loans: $500

Total Assets = Reserves + Government Bonds + Loans = $50 + $70 + $500 = $620

Liabilities:


  • Deposits: $400

Total Liabilities = Deposits = $400

Net Worth (Equity) = Total Assets - Total Liabilities = $620 - $400 = $220

Thus, the bank's net worth is $220.

User PVoLan
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2.8k points
11 votes
11 votes

Answer: the correct answer is $15,000

Step-by-step explanation:

User Stephen Wan
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