The table below shows balance sheet data, in £m, for a phone-based bank, AndroidBank:£mloans to corporati ons50loans to households600300AndroidBank's holdings of shares and bonds, etcretail current account deposits (deposits by general public with AndroidBank)commercial current account deposits (deposits by companies with AndroidBank)tangible assets and property150050500cash in vaults50reserve deposits with Bank of England (deposits by AndroidBank)borrowing by AndroidBank in money market30025 Android Bank makes new consumer loans totalling £100Om, crediting the amount to itscustomers' accounts. Android Bank's net worth decreases by this amount.Select one:O TrueO False

Net worth means all value of assets held by entity less all value of liability held by entity.

Answered: Android Bank makes new consumer loans…

Android Bank makes new consumer loans totalling £100m, crediting the amount to its customers' accounts. Android Bank's net worth decreases by this amount. Select one: O True O False

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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Question

The table below shows balance sheet data, in £m, for a phone-based bank, Android
Bank:
£m
loans to corporati ons
50
loans to households
600
300
AndroidBank's holdings of shares and bonds, etc
retail current account deposits (deposits by general public with AndroidBank)
commercial current account deposits (deposits by companies with AndroidBank)
tangible assets and property
1500
50
500
cash in vaults
50
reserve deposits with Bank of England (deposits by AndroidBank)
borrowing by AndroidBank in money market
300
25

Android Bank makes new consumer loans totalling £100Om, crediting the amount to its
customers' accounts. Android Bank's net worth decreases by this amount.
Select one:
O True
O False

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