Which of the following are reported as assets on a bank's balance sheet?

Question

Quizplus · Accepted Answer

Cash items in the process of collection and deposits with other banks are considered assets because they represent resources owned or controlled by the bank with expected future economic benefits. Checkable deposits are a liability, reflecting the bank's obligation to customers. Bank capital is not an asset but rather an equity item, representing the net worth or ownership interest in the bank.

Which of the Following Are Reported as Assets on a Bank's