Accounting entry of institutions who lends federal funds to other institutions is as?

Question

Accounting entry of institutions who lends federal funds to other institutions is as?

liability on balance sheet
assets on balance sheet
income in income statement
expense on income statement

LohaHridoy

4 views

2025-01-04 04:42

1 Answers

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AhmedNazir · Accepted Answer · 2022-09-01T13:21:41+06:00

Answer: Option 2

Accounting entry of institutions who lends federal funds to other institutions is as assets on balance sheet. Federal funds are overnight borrowings between banks and other entities to maintain their bank reserves at the Federal Reserve. Banks keep reserves at Federal Reserve Banks to meet their reserve requirements and to clear financial transactions.