he company decided to reduce its capital in-paid amounting to KD 100,000 and withdraw the amount from cash O The debit side is the capital in-paid, amount of KD 100,000. The credit side is the capital in-paid, amount of KD 100,000. The debit side is the cash, amount of KD 100,000. The credit side is the bank, amount of KD 100,000.

he company decided to reduce its capital in-paid amounting to KD 100,000 and withdraw the amount from cash O The debit side is the capital in-paid, amount of KD 100,000. The credit side is the capital in-paid, amount of KD 100,000. The debit side is the cash, amount of KD 100,000. The credit side is the bank, amount of KD 100,000.

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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Bank balance on bank statement is 10.150 TL and bank account ledger is 10.000 TL. The difference arose of 500 TL interest revenue and a 350 TL service charge. Which entry is made? O a. 500 debit to 642-Interest revenue and credit to 102-Bank; 350 TL debit to 102-Bank and credit to 770-GAE O b. 500 debit to 102-Bank and credit to 642-Interest revenue; 350 TL debit to 770-GAE and credit to 102-Bank O c. 150 debit to 102-Bank and credit to 642-Interest revenue O d. 500 debit to 102-Bank and credit to 642-Interest revenue; 350 TL debit to 780-Financing Expense and credit to 102-Bank
Mazaya Company assembled the following information in completing its October bank reconciliation balance per bank R.O.15.280; outstanding checks R.O.3,100, deposits in transit R.O5,000, NSF check R.O 320, bank service charge RO 100, credit memo from bank R.O. 320, cash balance per books RO.17,600. As a result of this reconciliation, Mazaya will Select one: a. reduce its cash account by R.O.420. O b Reduce its cash account by R.O.100. c. Reduce its cash account by R.O.1,900. d. Increase its cash account by R.O.320.
If a bank quintuples the amount of its capital and ROA stays constant, what will happen to ROE? ROE will to of what the ROE was before the bank quintupled the amount of its capital. 500.0% 50.0% 20.0%
Which of the following statements about the company's financial operations and financial decisions is FALSE? If your company overdraws its checking account, the Global Community Bank will automatically issue your company a 1-year loan in an amount sufficient to bring your ending cash balance up to zero. The interest rate charged on overdraft loans is always 2% above whatever interest rate your company would otherwise pay on a 1-year loan from the GCB (for example, if your company's B credit rating entitled your company to a 1-year loan carrying a 6.5% interest rate, then the interest rate on a 1-year overdraft loan would be 8.5%). If the company needs to secure additional capital, it can take out loans with 1-year, 5-year. and/or 10-year terms from the Global Community Bank and/or it can issue new shares of common stock. The company's banking arrangement with the Global Community Bank calls for the company to be paid interest on any positive cash balance in the company checking…
From page 4-2 of the VLN, which of the following is considered a Cash Equivalent? A. Shares of stock in Amazon.com B. 90 day supply of paper C. Account receivable to be collected in 30 days D. 3 month Certificate of Deposit
A 5. On 30th September, 2012, the Cash Book of Kumipreko Enterprise showed a debit balance of GH¢1,560, 000. The Bank Statement of the business at the same date showed a credit balance of GH¢1,130.000. On comparing the Cash Book with the bank statement, the following differences were found; A cheque for GH¢720,000 had been paid into the bank on 30 September but was not credited by the bank until the following day 2. Cheques totalling GH¢1,180,000 had been drawn but not presented to the bank for payment 3. Bank charges of GH¢290,000 was debited against the bank statement but did not appear in the Cash Book 4. Dividend of GH¢960,000 collected and credited by the bank on behalf of Kumipreko Enterprise did not appear in the Cash Book 5. Payments under standing orders for an amount of GH¢500,000 had been made but did not reflect in the Cash Book 6. A cheque for GH¢1,060,000 paid in was dishonoured, and marked Refer to Drawer. This was not captured by the Cash Book. Required: Draw up an…
We have the following information about a bank's balance sheet. Rate sensitive assets = $10,000,000 Fixed-rate assets = $20,000,000 Rate sensitive liabilities = $4,000,000 Fixed-rate liabilities = $26,000,000 Let's do a simple gap analysis. If the interest rate falls by 5 percent, O a. The bank will lose $300,000. O b. The bank will lose $500,000. O c. The bank will lose $200,000. O d. The bank will gain $300,000. O e. The bank will gain $200,000.
As on 30th June the Cash Book reports a bank balance of RO21,800; while cheques yet to be presented amount to RO21,560 and deposits yet to be credited by the bank amount to RO36,240. There was dividend collected by the bank RO 2500. What would be the balance as per the Bank Statement? a. 5800 b. 9620 c. 4620 d. 7120 *fast i dont have time plese
In a bank reconciliation, to adjust for the bank's deducting $980 for a company check that you wrote and booked for $890 requires A. increasing the book balance by $90 B. reducing the book balance by $90 C. increasing the bank balance by 590 D. reducing the bank balance by $90
Safari Company has a balance of P100,000 in cash & cash equivalents account as of December 31, 2022. The following items were found to be included in this balance. a. Compensating balance of P5,000 which is legally restricted as to withdrawal b. A negative bank balance of P10,000 from one of its bank accounts from just one bank. c. Plant expansion fund of P25,000 which is expected to be used on January 3, 2023. d. A certified check received from one customer last March 24, 2022. How much is the cash and cash equivalents to be presented in the 2022 Financial Statements?