Q: Which of the following statements is true? A certified check should be included in the outstanding…
A: Certified check means the check issued by bank saying that there is sufficient funds available in…
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: As at the end of 2019 one notable bank among the first three banks which were affected by the…
A: Bankruptcy is a worst financial situation in which a firm or bank is unable to pay their obligations…
Q: Would charges for some other company's safe deposit box that were posted to your account be added to…
A: Bank reconciliation: Bank statement is prepared by the bank. The company maintains its own records…
Q: What caused the banking crisis? Explain b. Why was the Insurance Guarantee Agency established…
A: A banking crisis is a situation when the banks are at the point of solvency and liquidation. It may…
Q: Suppose Mr. Ahmad and Mr. Akram are the current and saving account holders in an Islamic bank,…
A: Hawalah is informal Transaction between Financial beneficiary. It does not include Baking…
Q: Suppose that someone stole your ATM card and withdrew $1,000 from your checking account. How much…
A: FIRST WE KNOW WHAT IS FEDERAL LAW:A body of law at the highest or national level of a Federal…
Q: At the time of submission for encashment the cheque has to be signed by: a. Both endorser and branch…
A: At the time of submission for encashment the cheque has to be signed by: Both endorser and branch…
Q: In corporate liquidation of a closed bank, which of the following unsecured credits is classified as…
A: Liquidation refers to the winding up of business entity by realizing all the assets and pay off the…
Q: Which one of the following is classified as a cash or cash equivalent? Select one: a. Prepaid…
A: Cash and cash equivalent means that highly liquid assets which can be converted in to known amount…
Q: X is a depositor of AAA Bank. She has three deposit accounts all under her name. One, in checking…
A: Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: The current month's bank statement for your account arrives in the mail. In reviewing the statement…
A: Please find the answer to the above question below:
Q: It is possible to withdraw from the savings account by transferring to other accounts a) only inside…
A: Here asked about the details of savings accounts money transfer to other accounts. Savings accounts…
Q: Identify which one of the following is a meaning of the term Bankrupt: a. A person or company is…
A: Bankruptcy involves legal proceedings of a business when the business is unable to service its debt.
Q: The bill of exchange written by W states that BPI Family Savings Bank will get the reimbursement of…
A: A written order or promise by the maker of the document to pay a specified sum of money to some…
Q: On behalf of the Customers banks are acting under the role of____________________for some benevolent…
A: Answer: Customers use bank as the medium for ensuring the asset of trust are kept Safe and it is…
Q: The carreacy bank hold in their vaults plus their deposits at the Federal Reserve. A Bank Reseves…
A: Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: properly defaults and is under liquidation, can the creditors of the bank touch and receive the…
A: Answer: Concept: When the liquidation occurs in bank, there is preferential payment that are to be…
Q: In corporate liquidation of a closed bank, which of the following unsecured credits is classified as…
A: Liquidation refers to the winding up of business entity by realizing all the assets and pay off the…
Q: X is a depositor of AAA Bank. She has three deposit accounts all under her name. One, in checking…
A: In case of bank insolvency, the individual can claim up-to 2/3 of the available amount in all of the…
Q: The trust department of a bank would be interested in participating in all of the following…
A: Trust is an agreement that is legally enforceable. It gives the right to control the property of a…
Q: What bank regulations are designed to reduce moral hazard problems created by deposit insurance?…
A: Bank regulation is defined as the government regulation form that is subjected to requirements,…
Q: 13 - Which of the following transactions does the above record belong to ? a) Giving the…
A: Journal entry means the entry in prime book with chronological order. Journal entry should have…
Q: PROBLEM RECOGNITION TASK Determine the maximum deposit insurance coverage by PDIC in the following…
A: Philippine Deposit Insurance Corporation (PDIC) is a government owed corporation that provides…
Q: Which account in the bank helps the customers to deposit and withdraw when they need it? a. Savings…
A: Introduction: Banks: Banks accepts deposits from customers and gives loans to who are needed. It…
Q: What is the primary asset of any bank? Select an answer: checking and savings accounts investments…
A: Primary Assets - For a Bank, assets are kind of financial instruments that banks is holding or where…
Q: What if the drawee bank failed to determine right away that the CHECK is supposed to be dishonored…
A: Cheque bounce is a criminal offence under Section 138 of the Act, for which the payee can file a…
Q: X is a depositor of AAA Bank. She has three deposit accounts all under her name. One, in checking…
A: PHILIPPINE DEPOSIT INSURANCE CORPORATION (PDIC) offers PhP500,000 per banking depositor with maximum…
Q: Which one of the following is true of a signature card? A. It is the same as a deposit…
A: Solution: A signature card is a document that a bank kept it with the signatures of all the…
Q: What is the basic obligation of a depository bank to its depositor?
A: I am answering the first question as per bartleby policies. Please re-submit the remaining questions…
Q: Identify which one of the following statement is not correct? a. The credit limit under the facility…
A: A cash credit is a line of credit lent against the asset and liabilities, credit worthiness etc. The…
Q: Bank overdrafts are generally reported as: Question 9 options: a non-current asset. a…
A: 9. Bank overdraft is the liability for the business which is payable within 12 months. Hence the…
Q: Checking accounts are a common form of deposits for banks. Assume that Surety Storage has a checking…
A: Account: A record,thatdocuments or records the change in assets, liabilities, or equity for a…
Q: Ted owns Ted's Blankets. Ted asks you to explain how he should treat the following reconciling items…
A: 1. The bank charged to our account a check written by another company. Add to balance per bank 2.…
Q: The government provides deposit insurance which protects Multiple Choice the deposits that…
A: Deposit insurance is just like insurance policy, which cover against losses accruing to bank…
Q: Choose the function and service of a bank in which Bank Purchases and sells securities, shares and…
A: A bank provides different functions to its customers along with core banking services and some…
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 is the function of Deposit Insurance Corporation? Select one: It does not give guarantee…
A: Deposit insurance corporation is for safety of deposits and for the safety of banks and financial…
Q: 1. The relationship between a depositor and a banker is one of: A. Trustee and Beneficiary B. Member…
A: Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: In a bank, the employee interacting with someone seeking a loan does not have the authority to grant…
A: PLEASE LIKE THE ANSWER IT IS THE PART OF BANK'S INTERNAL CONTROL. As, THAT THE PERSON ADVISING THE…
Q: . Which will not require an adjusting entry on the depositor’s books? a. NSF check from…
A: The bank reconciliation statement is prepared to equate the balances of cash book and passbook with…
- What is the basic obligation of a depository bank to its depositor?
- Enumerate and explain the different kinds of deposit.
- ABC Bank was forced to close because its building was destroyed by fire. Mr. A, one of its depositors filed an insurance claim with the Philippine Deposit Insurance Corporation. Will the claim prosper? Answer with reasons.
Step by step
Solved in 2 steps
- ABC Bank was forced to close because its building was destroyed by fire. Mr. A, one of its depositors filed an insurance claim with the Philippine Deposit Insurance Corporation. Will the claim prosper? Answer with reasons. A, Mr. B and Mr. C have the following accounts in the closed XY Bank: Account No. 1 in the name of Mr. A, P150,000, Account No. 2 in the name of “Mr. A in trust for Mr. B”, P350,000, Account No. 3 in the name of “Mr. A by Mr. C”, P200,000. How much is the insured and uninsured deposit of Mr. A, Mr. B and Mr. C with the Philippine Deposit Insurance Corporation? Explain.What is the basic obligation of a depository bank to its depositor? Enumerate and explain the different kinds of deposit. X is a depositor of AAA Bank. She has three deposit accounts all under her name. One, in checking account, one in saving account and another in time deposit account. Each account has a balance of P250,000. AAA Bank became insolvent. Philippine Deposit Insurance Corporation closed the Bank. X therefore is unable to withdraw from all of the accounts. She then filed her claims with the Philippine Deposit Insurance Corporation. How much can X claim for all the three accounts? Explain.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 above
- X is a depositor of AAA Bank. She has three deposit accounts all under her name. One, in checking account, one in saving account and another in time deposit account. Each account has a balance of P250,000. AAA Bank became insolvent. Philippine Deposit Insurance Corporation closed the Bank. X therefore is unable to withdraw from all of the accounts. She then filed her claims with the Philippine Deposit Insurance Corporation. How much can X claim for all the three accounts? Explain. ABC Bank was forced to close because its building was destroyed by fire. Mr. A, one of its depositors filed an insurance claim with the Philippine Deposit Insurance Corporation. Will the claim prosper? Answer with reasons.X is a depositor of AAA Bank. She has three deposit accounts all under her name. One, in checking account, one in saving account and another in time deposit account. Each account has a balance of P250,000. AAA Bank became insolvent. Philippine Deposit Insurance Corporation closed the Bank. X therefore is unable to withdraw from all of the accounts. She then filed her claims with the Philippine Deposit Insurance Corporation. How much can X claim for all the three accounts? Explain. ABC Bank was forced to close because its building was destroyed by fire. Mr. A, one of its depositors filed an insurance claim with the Philippine Deposit Insurance Corporation. Will the claim prosper? Answer with reasons. A, Mr. B and Mr. C have the following accounts in the closed XY Bank: Account No. 1 in the name of Mr. A, P150,000, Account No. 2 in the name of “Mr. A in trust for Mr. B”, P350,000, Account No. 3 in the name of “Mr. A by Mr. C”, P200,000. How much is the insured and uninsured deposit of…In corporate liquidation of a closed bank, which of the following unsecured credits is classified as without priority? a. Claims of bank depositors b. Claims of local government for local taxes c. Claims of bank employees d. Claims for violation of Anti-Money Laundering Law
- Refer to the Focus on Fraud feature “Moss Adams and the Meridian Mortgage Funds Fraud.” a. Why was Moss Adams sued by the trustee for the bankrupt Meridian Mortgage? b. What would the trustee have to prove in order for the courts to hold Moss Adams liable for damages?The bank reconciliation revealed that one deposit had cleared the bank two weeks after the date of the deposit. Should this be of concern? Why, or why not?When a customer is delinquent on paying a notes receivable, your company has the option to continue to attempt collection or sell the debt to a collection agency. Research the benefits and challenges with each of these options and in a short essay, answer the following questions. A. What are the benefits and challenges of continuing to attempt collection yourself? B. What are the benefits and challenges of selling debt to a collection agency? C. If you had a dishonored notes receivable, which option would you select and why? D. Would you weight certain benefits or challenges differently when making your selection? How?
- X is a depositor of AAA Bank. She has three deposit accounts all under her name. One, in checking account, one in saving account and another in time deposit account. Each account has a balance of P250,000. AAA Bank became insolvent. Philippine Deposit Insurance Corporation closed the Bank. X therefore is unable to withdraw from all of the accounts. She then filed her claims with the Philippine Deposit Insurance Corporation. How much can X claim for all the three accounts? Explain.In corporate liquidation of a closed bank, which of the following unsecured credits is classified as without priority? Claims of local government for local taxes Claims of bank depositors Claims for violation of Anti-Money Laundering Law Claims of bank employeesWhich of the following should be classified as a current liability? a. Customers' unredeemed gift certificates b. Difference between the present value and face value of a one-year note payable c. Overdrawn account in a bank in which a second account with a positive balance is also maintained