King Miser, who collected coins, joined a coin club, Local Coin Shop. The club would send coins to its members, who were to pay for them or return them within 60 days. This is an example of a sale or return. O True O False
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![King Miser, who collected coins, joined a coin club, Local Coin Shop. The club would send coins to
its members, who were to pay for them or return them within 60 days. This is an example of a sale
or return.
O True
O False](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ffd23a6ef-3d2e-49ac-a408-c609cd24a338%2F8b7cce1a-632f-4e54-8b94-ad9f93616fa6%2F8ggph0s_processed.jpeg&w=3840&q=75)
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- Jeannette's Innovative Networking Express aka JINX has the following occurrences: Having just completed Professor Hirt’s ACNT 1303 course, Jeannette decides to set up a Petty Cash fund in the amount of $100 to be able to pay cash for/reimburse ordinary but small (in amount) business expenses. She writes a check and takes it to the bank to cash it to get change and small denominations of currency. After its third day in existence, the Petty Cash fund has dwindled in amount and has receipts for cash payments issued from it as follows: Delivery Expense $24.00 Flowers Expense $36.00 Postage Expense $10.00 Supplies Expense $15.00 She writes a check to reimburse the Petty Cash fund. After consulting with Professor Hirt, she decides to increase the amount of the fund to $200.00 and writes a check to do so. Properly record these transactions in order of occurrence, i.e.…I need helpOn Thursday 25th August, 2022, George deposited a cheque from Second Hand Cars Limited for US$100,000 via the automated teller machine. On Tuesday 30th August, 2022, George tried to pay his credit card bill via online banking but noticed that his bank account is frozen. He later received a call from the bank. The bank called to find out where the $100,000 came from. His response was that it was written on the cheque and he angrily hung up, wondering aloud why the bank would call to ask him such a stupid question. Notwithstanding, a Suspicious Activity Report is filed by the Bank against George. On Thursday 1st September 2022, the police called George and ask him to come down to the police station to answer some questions about the cheque for $100,000 that he deoposited into his account on Thursday 25th August, 2022. Advise George and the Bank.
- a. Illustrate and record the following events on a T account John deposits his $10,000 paycheck into his checking account at Chase Bank b.Chase Bank deposits the check at the Fed and Fed collects the funds for Chase Bank c.What happens to a bank's reserves when it receives a deposit? d.John withdraws $2000 cash and pays his rent. His landlord deposits the $2000 in Citi Bank4 Ken is a customer at Orange Grove Bank and frequently banks online. One day he receives an email with his banks logo on the top. The email states: You have been preapproved for a premium credit card, with an introductory rate of zero percent APR. The email then asks Ken to click on a link provided in the email to activate his card. Ken clicks on the link and is directed to a website where he is asked to provide personal financial information and his Social Security number. What law, or rule, applies to this situation?thank youuu!!
- please answer in details within 30 minutes as to why the option is correct and why other options are wrong.The bill of exchange written by W states that BPI Family Savings Bank will get the reimbursement of the payment from W’s savings account. What element is present in this situation? A. There is an unconditional order to pay. B. There is period to pay the bill. C. It is payable to order D. None of the above The bill of exchange written by X indicates that for the payee to receive the money from the drawee bank, the payee must first sell his house and car and give the proceeds to charity. What element is present in this situation? A. There is an unconditional order to pay. B. There is period to pay the bill. C. It is payable to order D. None of the aboveYour friend is trying to decide on two different checking accounts. Your friend just graduated high school and has a part-time job while waiting for technical school to begin. Checking account number one has a minimum balance requirement of $750, a direct deposit requirement, and a $12 fee each month. Checking account number 2 is a student checking account. It is free as long as you can prove he is a student. Checking account number 2 only had a minimum balance of $350. Which do you think he should choose? Why?
- Analyze and answer the following given problems. HAPPY FAMILY Convenience Store is managed by Juan Carlo Manalastas. Juan ask you to determine the balance of his cash account as of december 31, 20X1 . You determined the following 1. He kept some cash of the store as change funds. The cash account revealed 3 pieces of 100 peso bills, 5 pieces of 50 peso bills, 5 pieces of 20 peso bills, 5 pieces of 10 peso coins, 10 pieces of 5 peso coins, 10 pieces of 1 peso coin, and 25 pieces of 25 centavo coins. 2. Two of his regular customers gave juan the following checks in payments of debts: a. Php 1,540 check dated december 31, 20X1. b. Php 2,432 check dated january 3, 20X2. 3. There are two bank accounts in the name of the with the following balances: a. Balance for the savings account on december 31, 20X1 according to the passbook Php 26,780 b. A time deposit certificate for Php 100,000 for 90 days. Report to Juan Carlo Manalastas the balance of the cash and cash equivalent account of…Natalie decides that she cannot afford to hire John to do her accounting. One way thatshe can ensure that her cash account does not have any errors and is accurate and upto-date is to prepare a bank reconciliation at the end of each month.Natalie would like you to help her. She asks you to prepare a bank reconciliation forJune 2020 using the following information.Mr. Khalid has a current account in a bank with a credit balance of RO 97,000. He has withdrawn cash of RO 1,000 through ATM machine and paid RO 24,400 to his creditor by cheque. After these transactions his current account balance will be: a. RO 71,600 b. RO 51,600 c. RO 71,400 d. RO 21,600