Description of this paper

In this assignment, you will create a Balance Sheet and Income Statement for a bank.

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Question

In this assignment, you will create a Balance Sheet and Income Statement for a bank. Below are accounts and balances for 2013 year-end of ABC Bank, Inc. Note that the Retained Earnings account has not yet been adjusted for 2013 net income and dividends so you will have to compute the year-end balance in Retained Earnings for the Balance Sheet.;In $000's;Cash & due from banks 21,860;Common stock 9,136;Dividends paid [2] 20,010;Employee expenses 28,804;Fed. Funds and reverse repurchases 137,313;Fee income 23,930;Gain from security trading 3,064;Goodwill & other assets 141,341;Gross loans and leases 846,833;Income tax expense 9,104;Interest expense 5,161;Interest income 48,391;Loan loss allowance 17,060;Long-term bonds payable 127,379;Miscellaneous other income 15,862;Other borrowed funds 57,175;Other expense 21,594;Other liabilities 76,668;Preferred stock 12,883;Provision for loan losses 7,217;Retained Earnings [1] 77,733;Securities 292,681;Surplus 59,802;Total deposits 1,002,835;Prepare a formal Income Statement (Report of Income) and Balance Sheet (Report of Condition) for the bank using Excel. You do not need to break down assets or liabilities into subsections. Note that all values are in thousands of dollars. You can skip adding the zeroes if you note the values correctly.;Additional Requirements

 

Paper#29729 | Written in 18-Jul-2015

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