Answered: Which is a disadvantage of using an ATM…

Which is a disadvantage of using an ATM in place of a bank? O limitation on withdrawal amounts O number of accessible locations O hours of operation O speed of service

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter10: Cash Receipts And Cash Payments

Section: Chapter Questions

Problem 4QY: Which of the following is not an advantage of the cash receipts journal? a. Transactions do not have...

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Which of the following is not an advantage of the cash receipts journal? a. Transactions do not have to be posted on a regular basis. b. Transactions can be recorded on one line. c. Transactions involving debits to Cash are recorded in one place. d. Repetition in posting is eliminated. e. Special columns can be used for similar transactions.
Hi, im having trouble with a bank reconciliation question. Additional information: (1) Cheque number 5904 is correctly drawn for RM2,080 to pay for computer equipment. (2) The NSF cheque shown in the statement was originally received from a customer, S. Nilson. The return has not yet been recorded by the company. (3) The credit memorandum is from the collection of RM1,400 note for Elisa Sdn. Bhd. by the bank. The bank deducted RM15 collection fee. This has not been recorded by the company too
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Select the banking terms from drop down to match with the correct definition. Definitions Banking Terms a. A check that has been paid by the bank on behalf of the depositor. select a banking term Automated teller machine (ATM)Electronic funds transfer (EFT)MakerDepositorDebit memorandumPayeeBank statementPayerCredit memorandumDeposit slipCheckCanceled checkSignature cardEndorsement b. A disbursement system that uses wire, telephone, or computers to transfer cash balances from one location to another. select a banking term EndorsementBank statementDeposit slipDebit memorandumCheckDepositorElectronic funds transfer (EFT)PayeeSignature cardPayerCanceled checkCredit memorandumAutomated teller machine (ATM)Maker c. A document provided by the bank that requires the signature of all authorized signers of checks. select a banking term…
Which one of the following is a use of cash?Group of answer choices (A).payment to a supplier (B).payment received from a customer on his or her account (C).decrease in accounts receivables (D).sale of common stock (E).sale of inventory to a cash customer. Need typed answer.Please give answer within 45 minutes
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How will IFFA record the use of the insurance on May 31? a. decrease Prepaid Insurance $216 and increase Insurance Expense $216 b. decrease Prepaid Insurance $200 and increase Insurance Expense $200 c. decrease Prepaid Insurance $2,400 and increase Insurance Expense $2,400 d. decrease Prepaid Insurance $2,592 and increase Insurance Expense $2,592 e. no entry is required. Enter the letter that corresponds to your choice. (A B C D E) How will IFFA record the bank transaction on May 31? a. decrease Cash $28, decrease Bank Loan Payable $12, increase Interest Expense $16 b. decrease Cash $28, increase Bank Fees Expense $12, increase Interest Expense $16 c. decrease Cash $28, increase Interest Expense $12, decrease Bank Fees Expense $16 d. decrease Cash $28, decrease Bank Loan Payable $16, increase Bank Fees Expense $12 e. decrease cash $28, decrease Bank Loan Payable $16, decrease Retained Earnings $12 f. decrease Cash $28, decrease Bank Loan Payable $12, decrease Retained…
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Matching Question Match the banking term on the left with its definition on the right. Drag and drop application. Deposit ticket Deposit ticket drop zone empty. Check Check drop zone empty. Bank account Bank account drop zone empty. Remittance advice Remittance advice drop zone empty. Electronic funds transfer Electronic funds transfer drop zone empty. Lists currency, coins and checks deposited into an account Explains the reason for payment Used to deposit money for safekeeping and help control withdrawals. A document signed by the depositor instructing the bank to pay a specified amount of money Electronic transfer of cash from one party to another
Q1- A. What is a bank reconciliation and why is it important for companies to do it periodically? B. Prepare a Bank Reconciliation Statement for XYZ company that has: Bank statement of SR10,000. Cash account of SR7,500. Additional information for the reconciliation: Deposit in transit. NSF Check. Outstanding check. Collections made by the bank. Required: provide an amount of each information to bring the adjusted balances to be equal.
Subject: Mathematics in the Modern World (MMW) 1. This is a credit card fee that you have to pay when you withdraw money from the card at an ATM? a. Decline Fee b. Balance Transfer Fee c. Application Fee d. Cash Advance Fee 2. Generally called the buyer’s or homeowner’s equity or a type of payment, often in cash, made in the early stages of a purchase of an expensive good or service. a. Down payment b. Amortization c. Mortgage loan d. Home ownership 3. It is sometimes called a “winner-take-all” method. a. Plurality Method b. Borda Count Method c. Pairwise Comparison d. Plurality with Elimination 4. If Peter is preferred over Ned in a head-to-head comparison and Peter is preferred over MJ and Peter is preferred over May, then Ned should win the election. Does this satisfy the Condorcet Criterion? a. No, because it should be Peter. b. No, because it should be MJ. c. Yes, because it is an election. d. Yes, because it is a one-on-one comparison.
Indicate whether the general ledger accounts will be debited or credited when recording the following entries: Settle the telephone account of R 250 Bank: DEBIT Bank: CREDIT Please avoid image based solutions thnku