Suppose a group of investors pooled $150,000 and founded Second Republic Bank in

Question

Suppose a group of investors pooled $150,000 and founded Second Republic Bank in San Antonio, TX. Second Republic Bank used $$15,000 of this to purchase shares in the Dallas Federal Reserve Bank. With the remaining $135,000, the bank manager purchased a building, furniture, and equipment for the bank. Use the preceding information to complete the following table showing Second Republic Bank's balance sheet. Assets Building, furniture, and equipment = ____ Stock in Dallas Fed = ____ Total = _____ Liabilities and Net Worth Net Worth = _____ Total = ______

Explanation / Answer

Assets- 135000
stocks- 15000
Total- 150000
Liblities- 150000
total- 150000
assets= liablities

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