Problem 2. Information from Norfolk National Bank's Statement of Income is below. Put items in the proper order, fill in the missing items, and find net noninterest income. Report of Income Items Additional noninterest expense Smln 20 Additional noninterest income 30 Applicable income taxes Extraordinary gains-net Fiduciary activities Income before extraordinary items 3 2 20 ? Net income ? Net interest income 60 Premises and equipment expense Pretax net operating income 10 15 Provision for loan and lease losses ? Salaries and employee benefits Securities gains (losses) Service charges on deposit accounts Total interest expense ? 5 25 ? Total interest income 200 Total noninterest expense 125 Total noninterest income 100 Trading account gains and fees
Problem 2. Information from Norfolk National Bank's Statement of Income is below. Put items in the proper order, fill in the missing items, and find net noninterest income. Report of Income Items Additional noninterest expense Smln 20 Additional noninterest income 30 Applicable income taxes Extraordinary gains-net Fiduciary activities Income before extraordinary items 3 2 20 ? Net income ? Net interest income 60 Premises and equipment expense Pretax net operating income 10 15 Provision for loan and lease losses ? Salaries and employee benefits Securities gains (losses) Service charges on deposit accounts Total interest expense ? 5 25 ? Total interest income 200 Total noninterest expense 125 Total noninterest income 100 Trading account gains and fees
Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter10: Long-term Liabilities
Section: Chapter Questions
Problem 10.12E
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