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Question
A bank which starts with ALL of $1.48 million at the beginning of the year, charges off worthless loans of $0.94 million during the year, recovers $0.12 million on loans previously charged off and charges current income for a $1.02 million provision for loan losses, will have an ALL at the end of the year of:
A. $0.66 million.
B. $3.32 million.
C. $1.68 million.
D. $1.28 million.
E. The same amount as at the beginning of the year.
Answer
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