Consider the following list of entries that might appear on the balance sheet of a commercial bank.All figures are millions of dollars. TABLE 26-1 Refer to Table 26-1.What are the total assets on the balance sheet of this commercial bank?

Question

Consider the following list of entries that might appear on the balance sheet of a commercial bank.All figures are millions of dollars.  TABLE 26-1 Refer to Table 26-1.What are the total assets on the balance sheet of this commercial bank?

Quizplus · Accepted Answer

The total assets can be calculated by adding up the sum of all the assets listed on the balance sheet:

Cash and due from banks: 400
Securities: 800
Loans: 1760

Total assets = 400 + 800 + 1760 = 2960 million dollars. Therefore, the correct answer is D.

Consider the Following List of Entries That Might Appear on the Balance