Banking System Bank of Canada A B. Assets Assets Reserves Securities Securities Advances to Banks 16.0 36.0 50.0 Loans 94.0 Liabilities Liabilities Deposits Advance from BOC Bank Deposits Gov't of Can Deposit Notes in Circulation 160.0 16.0 8.0 12.0 Assume a reserve ratio of 10% if the Bank of Canada does a redeposit of $28 of Government of Canada funds from the BOC what are the initial changes in Column A for the banking system? a Reserves increase to $18B Ob Deposits increase to $1628 Oc. Reserves and Deposits decrease by $28 Od. Both A and B are correct
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- Problem 17: Use the following information for the next five questions: Sky Blue Corporation's bank account for May and June of 2021, were as follows: May data are as follows: Balance per bank, May 31 Balance per books, May 31 Deposits in transit Checks outstanding Bank service charge 10,500 11,864 1,500 150 14 June data are as follows: Bank Books Receipts Deposits recorded Deposits received Collection by bank (P2,000 noteplus interest) Disbursements Checks issued and recorded Checks paid Service charges recorded Check payment for utilities erroneously charge by the bank against the account of Royal Blue Company on June 30 9,000 8,100 2,100 11,800 11,500 12 14 50 47. How much is the correct disbursements for the month of June? 48. How much is the correct receipts for the month of June? 49. How much is the correct cash balance for the month of June? 50. How much is the correct cash balance for the month of May? 51. How much is cash shortage/ (overage)? 52. Prepare adjusting entries, if…The new balance from a bank statement is $5,200.15. The deposits not yet recorded by the bank are $520.90 and $722.25. The checks outstanding are $152.50, $228.90, and $1,012.34. Determine the adjusted bank balance. a.$1,012.34 b.$5,000 c.$6,443.30 d.$5,049.56The bank reconciliation prepared by Gatz Company on May 31, 2020, appeared as follows: GATZ COMPANY Bank Reconciliation May 31, 2020 Bank statement balance $ 9,364.35 Book balance $19,639.00 Add: Deposit of May 31 in transit 959.00 $10,323.35 Deduct: Deduct: Outstanding cheques: NSF cheque plus service charge $11,655.65 #876 643.00 #882 1,763.00 2,406.00 Bank service charge 66.00 11,721.65 Adjusted bank balance $ 7,917.35 Adjusted book balance $ 7,917.35 The Cash account in the General Ledger appeared as follows on June 30 (Gatz uses only a General Journal to record transactions): Acct. No. Cash 101 Date Explanation PR Debit Credit Balance 2020 May 31 Balance June 1 Cheque #883 1 Cheque #884 3 Cheque #885 4 Cheque #886 9 Deposit 12 Cheque #887 7,917.35 1,850.00 6,067.35 107.00 5,960.35 618.00 5, 342.35 GJ16 GJ16 GJ16 GJ16 1,917.00 3,425.35 8,011.35 425.15 7,586.20 3,143.00 4,443.20 937.00 3,506.20 7,392.20 2,540.00 4,852.20 1,406.24 3,445.96 950.96 GJ16 4,586.00 GJ16 12 Cheque #888 12…
- A comparison of the cashbooks for June, the above bank reconciliationstatement and the bank statement for June showed the following: 2.1 Provisional totals in the cashbooks on 30 June: Cashbook Receipts R 113 200 Cashbook Payments R 96 0002.2 The outstanding deposit at the end of May for R5 700 appeared onthe bank statement on 5 June 2019.2.3 Cheque number CHQ135 appeared on the bank statement on 7 June for R3 100. An investigation revealed that the bankstatement amount was correct.2.4 Cheque number CHQ116 still did not appear on the bank statementfor June 2019. The cheque was originally written out to Gift for theNeedy as a donation on 20 November 2018.2.5 The correction of the incorrect cheque for R570 refers to a chequethat was incorrectly debited twice by the bank. This error has notbeen rectified by the bank.2.6 The bookkeeper is in possession of two cheques that she has notentered as she is unsure of what to do: CHQ 141 for R5 400 issued to Gilford’s Furnisher’s dated 15July…6. A portion of your bank statement is shown. Your previous balance was $228.73. What is your present balance Date Checks and Other Charges Number 13-Oct 18-Oct 143 27-Oct 144 31-Oct ATM AT-Phone Service Charge >>> Amount $43.60 112.76 10.64 50.00 5.14 Date Deposits and Credits Amount $146.90 188.42 135.65 5-Oct 12-Oct 19-Oct [ATM] Present BalanceShow the Bank’s balance sheet if the Bank purchases liabilities to offset a net deposit drain of $10 million (required reserves ratio 7%): Assets :Cash $10Traiding portfolio $15Loans $50Investment portfolio $25Liabilities and Equitites:Deposits $68Interbank loans $20Equity $12
- Ablema has provided you with the following bank statement and bank account details in respect of the month ended 31 January 2018. Statement date - 31 January, 2018. Account No 1452800 Date Particulars Debit Credit Balance GH¢ GH¢ GH¢ 01-Jan-18 Balance forward 67,580 Cr 06-Jan-18 Cheque 597 120 67,460 Cr 06-Jan-18 Direct debit 2,020 65,440 Cr 12-Jan-18 Credit transfer 4,660 70,100 Cr 13-Jan-18 Cheque 600 1,420 68,680 Cr 14-Jan-18 Cheque 601 12,028 56,652 Cr 16-Jan-18 Lodgement 9,000 65,652 Cr 19-Jan-18 Cheque 599 18,004 47,648 Cr 23-Jan-18 Bank charges for December 2017 422 47,226 Cr 25-Jan-18 Quarterly interest received 62 47,288 Cr 27-Jan-18 Dishonoured cheque 1,600 45,688 Cr 27-Jan-18 Cheque 598 26,090 19,598 Cr 30-Jan-18 Cheque 603 5,048 14,550 Cr 31-Jan-18 Lodgement 14,500 29,050 Cr 31-Jan-18 Standing order: rent first quarter 2018 27,000 2,050 Cr The books and records of Ablema show the followings transactions through the bank account for the month of January 2018: Date Receipts…The general ledger showed a bank account balance of P920,000. What amount should be reported as adjusted cash in bank on April 30? a. 900,000 b. 865,000 c. 930,000 d. 965,000 с.The deposit in transit balance for the previous and current months are P200,000 and P100,000, respectively. If the total deposits acknowledged by the bank is P1,100,000 compute the book’s total deposits.
- ah- ELearning The proper treatment of outstanding cheques Is to report them in the bank reconcilation as which of the following? o a. An addition to the balance as per cash book O b. A deduction from the balance as per bank statement O C. An addition to the balance as per bank statement o d. A deduction from the balance as per cash book A OMR 40,000, interest-bearing notes payable is signed on December 26, 2002. If the note is a 120-day note, what is the maturity date for this short term liability? of O a. April 26 O b. March 25 O c. March 26 O d. April 25 5. Oman Air purchased aeroplane for OMR 200,000, on July 1, 2015. The company expects the service life of the airplane to be 5 years. During that time, it is expected that the aeroplane's useful life will be 40,000 hours. The anticipated salvage value is OMR 10,000. The aeroplane is disposed of after five years of use. Calculate the book value of aeroplane as on 31-12-2017? Use declining-balance depreciation method of charging…What is the adjusted cash in bank on December 31? 8,200,000 9,050,000 8,970,000 9,150,000 What is the cash in bank per ledger on December 31? 8,990,000 8,270,000 8,560,000 8,660,000 for fc479f51-46ab-41af-b134-12bc9f4c0777.png How much from the list above should be presented as part of noncurrent assets 4,000,000 1,000,000 4,900,000 5,500,000Study this case and answer question asked below: You have the following quotes from Bank A & Bank B Bank A: Bank B SPOT USD/CHF 1.4650/55 USD/CHF 1.4653/60 3-months 5/10 6-months 10/15 Cash/Spot 1/2 SPOT GBP/USD 1.7645/60 GBD/USD 1.7640/50 3-months 25/20 6-months 35/25 If you want to buy 1 million GBP Spot against CHF you have to pay Minimum Amount you have to pay is a. CHF 2.5866 Million b. CHF 2.5881 Million c. CHF 2.5875 Million d. CHF 2.5863 Million