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Question: Balance Sheet Effects JPMorgan Chase & Co., one of the largest financial institutions in the United States with total assets of nearly $2,266 billion, showed the following items (among others) on its balance sheet at January 1, 2012 (in millions):

Cash (an asset) $59,602

Total deposits (a liability) $1,127,806

1. Suppose you deposited $5,000 in the bank. How would your deposit affect each of the bank's assets, liabilities, and stockholders' equities? How much would your deposit affect each of your personal assets, liabilities, and owners' equities? Be specific.

2. Suppose JPMorgan Chase makes a $950,000 loan to Evergreen Hospital for remodeling purposes. How would this loan affect each of the bank's assets, liabilities, and stockholders' equities? Be specific.

3. Suppose you borrowed $20,000 from JPMorgan Chase on a personal loan. How would such a transaction affect your personal assets, liabilities, and owners' equities?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M92650607

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