Assignment 3 Essay examples

3. What type of bank risk would worry you the most as an account holder? How should the bank protect itself against that risk? (2-4 sentences. 1.0 points)

d. How many creditors have made inquiries about Jessie Robinson 's credit? (0.5 points) N/A

Part V: Reconcile a Bank Statement Reconcile the bank statement using the facts and figure that follow. Use the figure on page 289 to show your work. 35. The checkbook balance is $4616.96. 36. The statement balance is $6792.79 (this amount includes the deposit of $2230.00—do not add that amount in again). 37. Three checks are outstanding: check #5648 for $356.00; check #5649 for $46.90; and check #5650 for $1770.00. 38. Does the checkbook reconcile with the statement?

Warren Company makes candy. During the most recent accounting period, Warren paid $3,000 for raw materials, $4,000 for labor, and $2,000 for overhead costs that were incurred to make candy. Warren started and completed 10,000 units of candy, of which 7,000 were sold. Based on this information, Warren would recognize which of the following amounts of expense on the income

17. Which of the following is not a procedure for control of cash payments? A. B. C. D. Checks should be properly authorized with approval signatures. The business should provide written

Each student is to select research question related to money and banking and develop a well written paper that provides insight into the topic. The goal is to obtain a better understanding of the topic, while relating the identified topic or concept with real world scenarios.

- What to look for low interest rates, no annual fees, no hidden penalties or charge.

Name: ________________________________ Date: _________________ [1]BASIC BANK01 - BAT 003 Which of the following statements is true? A. An asset account is increased by a credit B. An expense account is increase by a credit C. A revenue account is decreased by a credit D. An equity account is decreased by a debit [2]BASIC BANK02 - BAT 010 The Income Summary account contains: A. Total revenues and total expenses for the year B. Total assets and total liabilities at year end C. Total revenues, expenses, assets, and liabilities

There are many things to consider when choosing which financial institution is best for you. You must consider what the institution offers and how well it suits you. Although banks and credit unions offer some of the same things it is interesting to look at the differences between them. I chose to compare Chase Bank and Landmark Credit Union and the offers that they make with their checking accounts. First, when looking at Chase, it is established right away that all Chase checking accounts come with online banking and bill pay, mobile banking, access to 15,500 ATMs, and a debit card. These included things can be considered to be very convenient to have with a checking account. Chase also has four types of checking accounts: Chase Total Checking, Chase Premier Plus Checking, Chase

The three banks that I researched for this project included Lake City Alliance Bank, Lake City Federal Bank, and Think Bank (Rochester). I looked at the consumer fee schedules, banking services, and hours of each bank and compared a variety of different rates specific to each bank. My research allowed me to lower down my choices and pick the bank that I believed was right for me.

b. Trace the line item “Balance per Bank Statement” – Accuracy and Existence (AU-C 315.A114 a-iii, b-i)

Century National Bank has offices in several cities in the Midwest and the southeastern part of the United States. Mr. Dan Selig, president and CEO, would like to know the characteristics of his checking account customer. To better understand the customers, Mr. Selig asked Ms. Wendy Lamberg, director of planning, to select a sample of customers and prepare a report. To begin, she has appointed a team from her staff and the team has selected a random sample of 60 customers. All the information gathered is tabulated in the table below:

3. What are some of the problems that individuals might face if they use one of the "problematic" financial

The Century National Bank has offices in several cities in the Midwest and the southeastern part of the United States. Mr. Dan Selig, president and CEO, would like to know the characteristics of his checking account customers. What is the balance of a typical customer? How many other bank services do the checking account customers use? Do the customers use the ATM service and, if so, how often? What about debt cards? Who uses them, and how are they used?

Banks are the structure and support system of a person’s financial state. People rely on banks to keep their money safe. Choosing a bank is an important decision and there is a lot to account for when looking to see which one is most beneficial. While there are lots of banks to choose from, Bank of America and PNC are two of the biggest and most commonly known. When it comes down to which is better, PNC or Bank of America, the obvious answer is PNC.PNC has lower fees, better benefits, and customers are very highly satisfied.