In which of the following withdrawal of funds by a person from a bank can be made on maturity date as agreed with the bank a. Loans b. Fixed Deposit c. Current deposit d. Saving Deposit

Q: Borrowing of reserve fund by Bank means a. To meet the customers need for business loans b.…

A: A reserve fund is a special account with a financial institution such as a bank

Q: Prepare the Bank Reconciliation Statement

A: Bank Reconciliation statement is prepared in order to reconcile the cash account balance as per the…

Q: The "Select Payments Included in This Deposit" se

A: The "Select Payments Included in This Deposit" section of the Bank Deposit form lists Payment…

Q: An account issued by banks yielding a market rate of interest with a minimum balance requirement and…

A: Certificate of deposit is a certificate issued by the banks for fixed period, there is no…

Q: prepare a Bank Reconciliation Statement.

A: Bank reconciliation statement is the statement which is prepared at the end of the period in order…

Q: Which of the following would be added to the balance per books on a bank reconciliation?   Question…

A: In  Cash Book we maintain Cash and Bank columns.  The Bank columns incudes bank…

Q: Complete the follow table to ensure the difference between the three instruments.

A: The instruments which help in negotiating the payment according to the flexibility of time and…

Q: Ina bank reconciliation statement, explain. A. Non-sufficient-funds (NSF) check B. What is a deposit…

A: Bank Reconcilation Statement Bank reconciliation is the process of  reconciling  of cash balance  as…

Q: Which of the Deposits in the bank provides facility for bank overdraft? Select one: O a. Current…

A: Banking system is a system in which bank organizations seeks deposit from public to lend them…

Q: bank reconciliation statement preparation

A: Option 1 is wrong because as per bank to book method of bank reconciliation, bank balance is…

Q: According to IAS 32 Financial Instruments: Presentation, which of the following could be classified…

A: Assets: Assets are resources (property) presented in the balance sheet because for it an…

Q: Bank Reconciliation Activity The accounting records and bank statement of Entity A shows the…

A: Ideally cash balance as per cashbook and bank balance as per bank statement should reconcile with…

Q: Every deposit accepted by the bank constitutes: a. A credit on the part of the banker towards the…

A: Deposit: It is a financial term which means money held at bank.

Q: Which of the following is supported with a debit memorandum? a.proceeds of bank loan b.collections…

A: The debit memorandum is issued by the bank to notify the depositor about the deductions made from…

Q: Liabilities of saving institutions include: checkable deposits, NOW accounts, and regular savings…

A: The answer for the multiple choice question and relevant explanation are presented hereunder : What…

Q: Which of the following are reported as liabilities on a bank’s balance sheet?   Group of answer…

A: Balance sheet: This financial statement reports a company’s resources (assets) and claims of…

Q: Which of the following are found on the bank side of the bank reconciliation? Group of answer…

A: The bank reconciliation statement is prepared at a specific interval, Where the balance of books is…

Q: r each of the following accounts, give key risks, relevant assertions and how to test those…

A: Disclaimer: “Since you have posted a question with multiple sub-parts, we will solve first three…

Q: Which are liabilities to a bank? Select one: O a. Vault cash and demand deposits O b. Demand and…

A: Liability is something a company owes to someone else. It is usually a monetary value.

Q: xplain about, B

A: Introduction : A bank can be understood as the type of financial organization that receives public…

Q: A company repays its bank borrowings.  The entry to record that transaction should be Group of…

A: Borrowing means where business taken loan from outsider to be used in business and repaid later.

Q: On a bank reconciliation, the adjusting entry to record interest carned should be: OA. O B. OC. O D.…

A: Bank reconciliation statement is the statement which is prepared to reconcile cash balance as per…

Q: What is bank reconciliation and how do l prepare a bank reconciliation statement

A: Answer is provided as follows:

Q: a. Based on the EAR (or EFF%), which bank should you use? b. Could your choice of banks be…

A: Answer 1. Compounded annually:  It means that the interest is compounded at the end of the year.…

Q: QUESTION 16 Which of the following items found on a bank reconciliation does NOT require an…

A: Deposit in transit since the amount is already recorded in the company accounts no adjusting entry…

Q: After preparing a bank reconciliation, the service fee charged by the bank would be recorded with a:…

A: Service fees expense is charged each month for management of bank account.

Q: rately explain a

A: Introduction : In simple words, banks refers to a financial institution which provides funds to the…

Q: The bank or other financial institution where the cheque can be presented for payment. a. BDO b.…

A: BDO : Full form of BDO is bank development organization.  It works for the development of bank.…

Q: What is the adjusting entry of Bank Reconciliation : Credit Memo- Proceed Bank Loan

A: Credit memo - proceed bank loan : A bank's credit memo is defined as the item where the bank account…

Q: Which of the following accounts will not be used in case a security is discounted or collected to…

A: The bank will provide a facility for short-term loans by taking the accounts or notes receivables of…

Q: method of preparing bank reconciliation wherein the bank balance is adjusted to agree with the book…

A: A bank reconciliation statement is prepared by management at a certain time period. It is used to…

Q: What are the three approaches in preparing bank statement

A: Answer: As per Q/A guidelines, only first question is to be answered. Please repost Q 2 to be…

Q: Bank reconciliation using: a. Bank to book method; b.Book to bank method; and c.Adjusted balance…

A: 1. Bank reconciliation using: a. Bank to book method

Q: Which items are reported as liabilities on a bank's balance sheet? bank's balance sheet?

A: Bank's balance sheet is the relationship between the assets, liabilities, and equity capital. The…

Q: a. Prepare a bank reconciliation at June 30. b. Prepare the necessary journal entries to bring the…

A: Journal entries shows the recording of transactions during an accounting year as every transaction…

Q: The term ‘loanable funds' refers to: a. only those funds loaned by one bank to another bank. b. only…

A: Loanable funds is that financial term that refers to sum total or aggregate of all sums of money…

Q: Which one of the following items requires an adjustment on the bank side of the bank​…

A: An error on the bank side or any omission in the bank statement requires an adjustment on the bank…

Q: The accounting treatment of Discount on bill discounted is: a. A current liability b. A current…

A: The earnings which are earned but not received are the accrued revenue for the business. The…

Q: Write the proforma entry of bank reconcilation using the adjusted balance method

A: The cost of bonds issued is attractive. The payment of interest is paid at regular times.…

Q: A checking account is: OPTIONS: an asset to a commercial bank. a liability to a commercial bank. an…

A: A checking is a bank saving account which is opened with a commercial bank by a customer. He can…

Q: What item on the bank statement that may differ from the company's financial records.      NSF…

A: The bank  reconciliation statement is prepared to match the balance of Cash in bank statement and…

Q: In a bank reconciliation statement, explain. A. Non-sufficient-funds (NSF) check B. What is a…

A: Bank Reconciliation Statement - Business firms record the transaction which help them to maintain…

Q: Prepare a bank reconciliation statement

A: Bank Reconciliation statement is prepared when there is difference between cash balance as per…

Q: riefly explain about Sources of Bank Funds: Bank Liabilities- Deposits/ Non-Deposits. No plagiari

A: Introduction : In simple words, banks are a kind of financial institution that engages in borrowing…

Q: ould be recorded using the Bank Deposit form?

A: Transaction types should be recorded using the Bank Deposit form are :  A. Cash received from loans.…

Q: in terms of bank balance sheets which of the following is correct?

A: Bank balance sheet shows all sources and uses of bank funds. It's assets represents the uses of…