A Bank Which Starts with ALL of $1

question 86

Multiple Choice

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.