In a commercial bank,interest rate set for customers are the bank's assets.loans disbursed to customers are the bank's liabilities.O required reserve kept in Bank Negara Malaysia is the bank's liability.deposits from customers are the bank's liabilities.

Assets are owned by the bank whereas liabilities are to be paid by the bank. The detailed…

Answered: In a commercial bank, interest rate set…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter8: Fraud, Internal Controls, And Cash

Section: Chapter Questions

Problem 16MC: Which of the following are found on the bank side of the bank reconciliation? A. NSF check B....

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Similar questions

Which of the following are found on the bank side of the bank reconciliation? A. NSF check B. interest income C. wire transfer into clients account D. deposit in transit
Domingo Company received the following bank statement. Using PA9, prepare the bank reconciliation.
Which of the following items are found on a book side of the bank reconciliation? A. beginning bank balance B. outstanding checks C. interest income D. error made by bank
Every deposit accepted by the bank constitutes: a. A credit on the part of the banker towards the depositor b. An investment on the part of the banker towards the depositor c. A debit on the part of the banker towards the government d. A loan on the part of the banker towards the depositor
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.
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
what is the initial carrying amount of the loan payable on the part of BBB Company? What is the initial carrying amount of the loan receivable on the part of National Bank?
Which of the following is supported with a debit memorandum? a.proceeds of bank loan b.collections already forwarded to the bank for deposit but too late to appear in the bank statement c.matured time deposits transferred by bank to the current account d.notes receivable collected by the bank in favor of the depositor e.charges for penalty
Which of the following is an appropriate reconciling item to the balance per bank in a bank reconciliation? a. Bank service charge b. Chargeback for NSF check c. Deposit in transit d. Bank interest
Show how each of the following would initially affect a bank’s assets liabilities. Someone makes $1000 deposit into a checking account. A bank makes a loan of $1000 by establishing a checking account for $1000 The loan described in part (B) is spent. A bank must write off a loan because the borrower defaults.
Accompanying the bank statement was a debit memo for bank service charges. On the bank reconciliation, the item is a(n) Select one: A. deduction from the balance per company's records B. addition to the balance per company's records C. addition to the balance per bank statement D. deduction from the balance per bank statement
What is the initial amount of loan receivable on the part of the National Bank??

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In a commercial bank, interest rate set for customers are the bank's assets. loans disbursed to customers are the bank's liabilities. required reserve kept in Bank Negara Malaysia is the bank's liability. deposits from customers are the bank's liabilities.