er bank statement
Q: What is a bank account?
A: The bank account means a financial account which is maintained by a bank on behalf of its…
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Q: Define these money market instruments 1. Treasury bills 2. Certificates of Deposits
A: Money market is the market in which the debt intruments less than one year are deal with.
Q: central
A: Introduction: Central banks are banks with authority to take care of the monetary or currency policy…
Q: Briefly describe the flow of cash among receivables, cash,and marketable securities.
A: Financial assets: The assets that are easily convertible into cash are referred to as financial…
Q: What is the Federal Reserve System and how is a bank's balance sheet formed?
A: It tells about the Federal Reserve System and how is a bank's balance sheet formed:
Q: Customers' current ac bank.
A: Liabilities are accumulated financial obligations that result from past events that are expected to…
Q: Define the following concepts? a. Petty cash funds. b. Escrow payment. c. Chart of accounts.
A: a. Petty cash funds:A petty cash fund is a special fund operated by a petty cash custodian to pay…
Q: Explain the steps of bank reconciliation in Accounting.
A: A statement that is prepared to identify the reasons for the difference and to reconcile the…
Q: In cash flow statement, opening balances of bank balance is posted in which side of the statement…
A: Cash Flow Statement: Cash flow statement tells us the amount of Cash generated and used during the…
Q: Element of banking
A: The answer for the theory question on element of banking is discussed hereunder :
Q: Define commercial bank
A: Commercial bank It is a sort of financial institution that acknowledges deposits, gives account…
Q: From a bank's viewpoint, a customer's account in the bank is considered a: a.donation. b.liability.…
A: Bank statement: This is a periodic or monthly statement issued by bank reporting the account summary…
Q: r each of the following accounts, give key risks, relevant assertions and how to test those…
A: Disclaimer: “Since you have posted a question with multiple sub-parts, we will solve first three…
Q: What is the DEAR of the bank's
A: DEAR(Daily Earning at Risk) measures the potential loss in portfolio's value over a one-day period…
Q: Define cash disbursements journal.
A: Journal entry: Journal entry is a set of economic events which can be measured in monetary terms.…
Q: e bank reconciliation
A: Bank reconciliation statement is an important part of accounting to reconcile the differences…
Q: Proof of Cash
A: as stated in question
Q: Define cash receipts journal.
A: Journal: Journal is the book of original entry. Journal consists of the day-to-day financial…
Q: Accounts Receivable Note Payable Bonds Payable Common Stock
A: The balance sheet shows the financial position that includes the assets, liabilities, and…
Q: Define financial assets, trade and other receivables and financial liabilities Thanks tutor
A: Financial assets and trade and other receivables are different types of assets that are part of…
Q: True (t) or False (f) ______ Certificates of deposit are usually classified as cash on the balance…
A: A certificate of deposit (CD) is referred as a savings account that holds a fixed amount of money…
Q: Sub Classification Statement (CA, NCA, CL, NCL, C/s, OPEX) Financial Line items Trading Securities…
A: SFP stands for the statement of financial statement that shows the balance sheet of the company. It…
Q: What is financial banking
A: A financial banking is also called as financial institution which usually portrays a foundation that…
Q: In which transaction deposit directly in the business current bank account as capital contribution
A: The transactions of the company will be analyzed by the management, and it will be recorded in…
Q: Determine the process to create an bank account?
A: The bank is the financial institution which accepts deposits from the customer and provides credit.…
Q: A client pays a firm the outstanding balance on an inv this? O General Journal O Cash Disbursements…
A: Any outstanding balance receivable from client or customer, such account will shown as receivable in…
Q: Cash Receipts
A: As stated in question
Q: At what amount should "Cash on hand and in bank be reported on Gracious' balance sheet?
A: Step 1 Hello. Since your question has multiple parts, we will solve first question for you. If you…
Q: Define cash disbursements.
A: Cash disbursement, also known as money installments, in auditing refers to installments made by an…
Q: what is procedure to posting account payable ledger in cash disbursements system
A: Accounts payable forms a part of current liabilities and represents the amount that the entity owes…
Q: plockchain financial transactions?
A: Blockchain helps in making transparency in the financing industry while users are considering the…
Q: Which of the following is a long term financial instrument? a. Certificate of deposit. O b.…
A: Funds based on period are: Short term funds Long term funds.
Q: cash payments journal.
A: Cash payments journal is an accounting record to update the cash payments made during a particular…
Q: What bank
A: A bank is an important financial institution which exists in the economy. The answer and definition…
Q: Banking relates Banks provides The Banks heln
A: Explanation : The fact that banks are the backbone of every economy and provide high level of…
Q: Lending money for a bank it will be considered as an:
A: The Importance of Character Chief on the rundown is character. doesn't believe you or believe…
Q: Explain the relationship between a payor bank and its customers.
A: Introduction: Payor bank can be defined as a bank which is the drawee of a draft.
Q: Differentiate savings account from a current or checking account.
A: A bank is an institution that deals with money and credit. It accepts deposits from the public,…
Q: Identify and explain the duties of collecting banks.
A: Collecting bank: Collecting banks are defined as those banks which collects money in favor of its…
Q: hen obtaining bank financing for a ho
A: Mortgage points also known as discount points allow to pay more in closing in order to get a lower…
Q: 1. What is a Central Bank Balance Sheet?
A: Balance Sheet: It is a financial statement prepared by an organization at the end of the trading…
Q: Classify following cash flows as operating, investing, or financing activities. Cash received from a…
A: Statement of Cash Flows: Statement of Cash Flow is one of the main four financial statements,…
Q: Cash received electronically through an electronic funds transfers (EFT)
A: Internal control represents the reasonable assurance that the employees of the company have not been…
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- Samantha wants to take the next four years off work to travel around the world. She estimates her annual cash needs at $30,000 (if she needs more, she'll work odd jobs). Samantha believes she can invest her savings at 8% until she depletes her funds. Use the blue shaded areas on the ENTERANSWERS tab for inputs. Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the Instruction tab you will be marked wrong. Requirements 1 How much money does Samantha need now to fund her travels. a. Use a single Excel formula function PV and be sure to enter any payment amount with a minus sign or parenthesis. 2 After checking with a number of banks, Samantha learns she'll be able to invest her funds only at 6%. How much does she need now to fund her travels? a. Use a single Excel formula function PV and be sure to enter any payment amount with a minus sign or parenthesis.I need help for D, E, and G please You are a loan officer at the West Elm Savings and Loan. Mr. and Mrs. Brady are in your office to apply for a mortgage loan on a house they want to buy. The house has a market value of $170,000. Your bank requires 1/5 of the market value as a down payment. (a) What is the amount (in $) of the down payment? $ (b) What is the amount (in $) of the mortgage for which the Bradys are applying? $ (c) Your bank offers the Bradys a 30 year mortgage with a rate of 5%. At that rate, the monthly payments for principal and interest on the loan will be $5.37 for every $1,000 financed. What is the amount (in $) of the principal and interest portion of the Bradys' monthly payment? $ (d) What is the total amount (in $) of interest that will be paid over the life of the loan? $ (e) Your bank also requires that the monthly mortgage payments include property tax and homeowners insurance payments. If the property tax is $1,710 per…1. A man wishes to have P 100,000.00 on a bank that earns an exact simple interest rate of 10.50%. a. How much money should he deposit on an account to fulfill his wish if he decided to deposit it on February 20, 2016, and withdraw this account on February 20, 2017, and no other withdrawals will take place?
- d) QBank makes a personal loan of £10,000 to Mr A, and credits his current account with the amount of the loan. Describe the initial impact on QBank’s balance sheet, the money supply, and the net worth of both QBank and Mr A. e) Mr A then withdraws £10,000 in cash with which he pays Ms B for building work. She immediately deposits it in her current account with another bank, RBank. What is the impact on QBank’s balance sheet, and on the aggregate money supply? f) Financial media report that QBank has made “significant” capital losses on some of its financial investments, as well as suffering high default rates on its loans to households. Discuss the possible consequences, using the information in your earlier answers.Suppose you purchase a home and secure a loan for $165,000. If the bank charges a fee of 3 points, what is the charge for points?(Table) SCENARIO: Assume that Empathy State Bank begins with the balance sheet shown and is fully loaned-up. Vanessa has a checking account at Empathy State Bank. If she writes a check for $5,000 to pay for her new car and if the bank has a reserve requirement of 5%, this bank's excess reserves will be $5,250. negative; Empathy State Bank will need to acquire $2,250 in reserves. $0; Empathy State Bank will be fully loaned-up. $250.
- SOLVE FOR NUMBER 4 ONLY 3. Citibank pays 9% ordinary simple interest on a 30-day time deposit. If Gino deposits Php 1 500.00, how much will he have using:a. Exact interest b. Ordinary interest 4. After solving the problem in number 3, what conclusion can you draw between ordinaryand exact interest? If you are the banker, what kind of interest will you use and why?How about if you are the depositor?3. What are the advantages and disadvantages of a fixed principal, fixed interest loan? 4. What is the purpose of a bridge loan? 5. Distinguish between bank discount and simple interest.6. Differentiate between a stated rate of interest and an effective rate of interest. 7. What is the significance of finding the internal rate of return (IRR)? 8. Jill Kramer borrowed $25,000 to pay for a startup business. Jill must repay the loan at the end of five months in one payment with a 6 percent simple interest rate.What is the total amount that Jill must repay in five months?How much interest does Jill repay?9. Joe Jones went to his bank to find out how long it will take for $1,000 to amount to $1,350 at 9 percent simple interest. Solve Joe's problem.4. Shamsuddin has RM 63,000 in his EPF Account II. He plans to purchase a house which cost him RM173,000. He manages to get a loan of RM100,000. How much can he withdraw from his Account II. Support by using calculation
- 4. Nombulelo Makwete has been shopping around for a loan to finance the purchase of a used car she is buying. She needs to borrow R205 000. She found four offers that seem to be attractive, but would like to choose the offer with the lowest annual interest rate. The information she was provided by the banks were as follows: Loan A B с D Principle amount a) Loan A b) Loan B c) Loan C d) Loan D e) None of the above R205 000,00 R205 000,00 R205 000,00 R205 000,00 Monthly payment -R9 842,64 -R7 207,19 -R5 448,90 -R4 169,49 Repayment term (months) 24 36 48 72 You may assume that the interest on all four loans above are compounded monthly. Which loan should Nombulelo take if she wants to choose the loan with the lowest annual interest rate?Scenario 2.Suppose that you withdraw ₱ 1,500.00 from your savings account. Over theweekend, several people want to borrow money from you. Read the stories anddecide to whom you will lend your money.Story1. Your younger sister is having a garage sale. She needs cash to makechange for the day. She will sell you a bond for ₱ 1,000.00 You will keep thebond for a week, and she promises to pay you back.Story2. Your older brother has a small business idea but doesn’t have anymoney. He wants to borrow your ₱ 1,500.00 and promises to pay you back ₱1,800.00 in four weeks.Story3. Your best friend at school, whom you know very-well, wants to borrowyour ₱ 1,500.00 to buy cupcakes. She plans to sell at a higher price andpromises to pay you back ₱1,700.00 in two weeks.Whose bonds will you buy? Why?Amir needs 12000 to get his business started as soon as possible. He decides to take a loan from a bank. If the amount of bank discount is 354.15, find the amount of the loan.