Bank Management

The beginning balance in the allowance for loan loss account for Synopsis Bank is $500 million. The banking firm charges $2 million for provision for loan losses. Synopsis Bank will report: a. $2 million as adjusted allowance for loan losses. b. $502 million as adjusted allowance for loan losses. O C. $502 million as provision for loan loss expense. O d. $2 million as allowance for loan losses. QUESTION 13 0.5 points Save Answer A bank's Report of Condition shows gross loans and leases or $1,500 million. The loan loss allowance for the year is accumulated to $50 million and the bank reports an unearned income amounting to $2 million. The net loans and leases accounted by the banks would be: a. $1,548 million Ob.$1,448 million OC. $1,450 million Od. $1,452 million