1. At December 31, cash per the bank statement was $15,200; cash per the company's records was $17,000.2. Two debit memoranda accompanied the bank statement: service charges for December of $22, and a $750 check drawn by acustomer, Jane Jones, marked NSF.3. Cash receipts of $10,000 on December 31 were not deposited until January 4.4. The following checks had been issued in December but were not included among the paid checks returned by the bank: no. 620for $1,100, no. 630 for $2,300, and no. 641 for $5,572.a. Prepare a bank reconciliation at December 31.b. Prepare the necessary journal entry or entries to update the accounting records.Complete this question by entering your answers in the tabs below.Required A Required BPrepare a bank reconciliation at December 31.Balance per bank statementAdjusted cash balanceBalance per depositor's recordsAdjusted cash balanceWARREN ELECTRICBank ReconciliationDecember 31$$0OOO

The objective of this question is to prepare a bank reconciliation statement for Warren Electric at…

Answered: 1. At December 31, cash per the bank…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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11. Currently, deposits are insured by the FDIC up to ___________ per depositor per bank. Question 11 options: a) $1,000,000. b) $250,000. c) $10,000. d) $100,000.
If Tiffany redeemed a bond that earned 5% interest over the past 10 years, which function of money was BEST represented in this scenario? A. medium of exchange B. store of value C. standard of value D. unit of account
Deposits equal Balance Sheet ASSETS Reserves (Required) $ 50,000 Loans Reserve Ratio $30,000. $250,000. $300,000. TABLE 1 $500,000. 10% LIABILITIES Deposits
Please help
(b) Banks can create money through their expenses. Banks can create money through their expenses. Is this statement true, false or unclear? Please explain.
2-A bank has deposits of $ 6 000 000 , its total actual reserves are $1 200 000 and the legal reserve ratio is 0.12 . (a) What is the amount of reserves ? (b) What is the amount of excess reserves ? (c) If the reserve ratio changes to 0.10 what would be the effect on reserves and total actual reserves ,amount of excess reserves remaining the same ?
Pure exchange economy with no free disposal. There is also i=,l- el = (2, 8) and ell = (8, 2) Utility function ui : R 2+R ul (xI ) = (xI,1)2+ (xI,2) 2 and ulI (xII ) = max{2XII,1 + xII,2, xII,1 + 2XII,2} Find Edgeworth-Box Solution (all kinds of allocations needed - ind. rational, pareto, weakly pareto, core)
Figure 2: Ms Interest Rate (%) 10% 6% 4% Md 500 800 1,000 Money ($ million) 11. Refer to Figure 2. At an interest rate of 4%, there is: a) an excess supply of money of $200. b) an excess supply of money of $600. c) an excess demand for money of $600. d) an excess demand for money of $200.
Megan writes a check to Harold for $100 and gives the check to Harold for his birthday, Harold alters the check to read $ 1,000 and indorses the check to Samson in exchange for flying lessons. Samson is unaware of the alteration. Samson attempts to deposit the check in his account at Southern Savings and Loan, but Southern rejects the check because of the alteration. Samson can recover: $1,000 from Megan, because Samson is a holder in due course nothing from Megan, because the check has been altered. $1,000 from Megan, because Harold is a holder in due course. $100 from Megan, because Samson is a holder in due course
Question 5 Homework ⚫ Answered ⚫ Due Jul 24th, 11:50 PM MONEY IN THE ECONOMY ($billions) Currency held by the public = $1,000 Demand Deposits = $3,000 Other Liquid Deposits = $12,000 Small Denomination Time Deposits = $500 Retail Money Market Funds = $1,500 Use the information above to answer this item. If depositors move $100 billion from demand deposits to small denomination time deposits, then: Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a b C the value of M1 stays the same, the value of M2 increases by $100 billion, and the system becomes less liquid. the value of M1 decreases by $100 billion, the value of M2 stays the same, and the system becomes less liquid. the value of M1 decreases by $100 billion, the value of M2 increases by $100 billion, and the system becomes less liquid. × Your answer d the value of M1 stays the same, the value of M2 stays the same, and the liquidity of the system does not change.
11. The monies that are very liquid such as cash, checkable (demand) deposits, and traveler's checks are considered to be
(b) Mahsuri Bank which is one of the local banks in your community has the following balance sheet (in billions of RM) as follows: Liabilities 3,000 Deposits 1,350 Assets RM billions RM billions Reserves 5,000 Government securities Loans 650 i. If the required reserve ratio is 0.25 or 25 percent, how much in excess reserves does the bank hold? ii. Determine the maximum amount by which the bank can expand its loan? If the bank makes the loans in (ii), show the immediate impact on the bank's balance sheet. ii.

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