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Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Which one of the following items requires an adjustment on the bank side of the bank reconciliation? A. interest earned B. a bank service charge C. a note collected by the bank D. deposits in transit
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Current Attempt in Progress Identify whether each of the following items would be (a) added to the book balance, or (b) deducted from the book balance in a bank reconciliation. 1. 2 3. 4. 5. EFT transfer to a supplier. Bank service charge. Check printing charge. Error recording check # 214 which was written for $260 but recorded for $620. Collection of note and interest by the bank on the company's behalf.
A checking account is: OPTIONS: an asset to a commercial bank. a liability to a commercial bank. an asset for the Federal Reserve System. a liability to the household or firm that has the account.
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Bank reconciliation The following data were gathered to use in reconciling the bank account of Reddan Company: Balance per bank $ 18,250 Balance per company records 8,500 Bank service charges Deposit in transit Note collected by bank with $190 interest Outstanding checks a. What is the adjusted balance on the bank reconciliation? 50 2,650 5,150 7,300
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A prenumbered document that tells the bank to pay the designated party a specific amount is a A. check B. deposit ticket C. routing number D. remittance advice
Instructions: Calculate the following Reconciliation for Hancock, Reid, & Carson for the period ending March 31, 2021. Prepare the March bank reconciliation statement on the blank statement provided for Hancock, Reid, & Carson Ltd. according to the following information: • Royal Bank of Canada statement says the current balance is $17,864.12. • There was an NSF cheque #1706 from Peter Bartrum in the amount of $1,870.54. There are bank service charges of $60.00; there are overdraft interest charges of $86.90; there is a preauthorized loan payment charge of $617.44; the bank paid Hancock, Reid & Carson Ltd. $204.12 interest on a revolving T-bill investment, and there is a charge of $54.00 for the annual rental of a safety deposit box. Upon comparing the bank statement to the company's cheque register, you noted that the final balance in the cheque register was $16,627.01 and that cheques #588 for $198.27, #592 for $i,846.40, #596 for $374.80 and #599 for $1,320.40 are outstanding. You…
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Bank reconcjliation Instructions Chart of Accounts First Question Journal Instructions The following data were gathered to use in reconciling the bank account of Reddan Company: Balance per bank $17,350 Balance pir company records 10,035 Bank service charges 35 Deposit in transit 3,350 Note collected by bank with $190 interest 4,600 Outstanding checks 6,100 Instructions a. What is the adjusted balance on the bank reconciliation? b. Journalize any necessary entries for Reddan Company based on the bank reconciliation. Refer to the Chart of Accounts for exact wordina of Check My Work
Which of the following is a book reconciling item? a.notes receivable collected by the bank b.cash on hand awaiting deposit c.collections already forwarded to the bank for deposit but too late to appear in the bank statement d.Checks drawn and already given to payees but not yet presented for payment

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The carreacy bank hold in their vaults plus their deposits at the Federal Reserve. A Bank Reseves Bank Bank property Fore closures B. liens C- d. Bank