Final answer:
The balance sheet format that is gaining acceptance and lists assets, liabilities, and owners' equity in a top-down sequence is the vertical format. The T-account is the traditional two-column format used to display assets and liabilities on a balance sheet.
Step-by-step explanation:
A Bank's Balance Sheet Format
The balance sheet format that lists assets at the top, followed by liabilities and owners' equity is known as the vertical format balance sheet. This is contrasted with the traditional T-account format that involves a two-column format displaying assets on one side and liabilities on the other, forming a T-shape with a vertical line down the middle and a horizontal line under the column headings for “Assets” and “Liabilities”. The T-account is a foundational concept in accounting and is essential for understanding how businesses organize their financial information. A bank's balance sheet, reflecting its financial condition, lists assets like cash and securities, as well as liabilities, such as deposits and borrowed funds. The difference between total assets and total liabilities represents the bank's net worth or bank capital.