5. Using T-accounts, compute for the missing amounts in the table belo Inventory, beg. Net purchases Cost of sales Inventory, end. a. 10,000 b. 36,000 c. 15,000 d. ? 198,000 145,000 ? 112,000 ? ? | 64,000 89,200 56,000 9,000 48,000 112,000

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Functions of Financial Institutions

Financial institutions are businesses that are formed to deal with financial and monetary transactions. These organizations primarily accept deposits, advance loans, make investments, and provide foreign exchange services. Financial institutions include, but are not limited to, banks, insurance companies, trust companies, brokerage firms, and investment bankers. Because financial institutions play such an important role in the economy in terms of monetary transactions, regulating their activities has become a requirement for governmental authorities. As a result, the government creates a multitude of laws and regulations to oversee the activities of financial institutions.