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 ItemsAdditional noninterest expenseAdditional noninterest incomeApplicable income taxesExtraordinary gains-netFiduciary activitiesIncome before extraordinary itemsSmln20303220?Net income?Net interest income60Premises and equipment expensePretax net operating income1015Provision for loan and lease losses?Salaries and employee benefitsSecurities gains (losses)Service charges on deposit accountsTotal interest expense?525?Total interest income200Total noninterest expense125Total noninterest income100Trading account gains and fees?

Operating Income is the net of all the revenue generated from operations and all the operation…

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

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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