In a bank reconciliation, a bank service charge is O added to the bank balance. deducted from the bank balance. O deducted from the book balance. added to the book balance.

Q: BANK RECONCILIATION STATEMENT (definition and provide example)

A: DISCLAIMER: “Since you have asked multiple questions, we will solve the first question for you. If…

Q: Vhen a bank grants a consumer loan to someone, it leads to: O a. an indirect flow of funds Ob. Oc a…

A: Consumer loans are a type of loan offered by banks and other financial institutions to individuals…

Q: Basic bank services do not include: Multiple Choice Checking. Bank deposits. Bank accounts. Cash…

A: A bank is a financial institution that is authorized to accept deposits, and advance loans. Further…

Q: 16) Modern commercial banks secondary service include:

A: Commercial banks represent the financial institution that provides various financial facilities to…

Q: 1. When will the delivery of a check produce the effect of payment even if the same had not been…

A: A check seems to be a written, dated and acknowledged instrument that instructs a bank to pay its…

Q: Explain: the deposit insurance, provided by the government, reduces the incentive for depositors to…

A: Deposit insurance is a program that provides protection to depositors in the event of a bank…

Q: c) What are the benefits and risks of off-balance-sheet (OBS) activities to a bank?

A: Off-balance-sheet (OBS) activities refer to financial transactions or arrangements that are not…

Q: What are the advantages and disadvantages of direct lending for the bank?

A: Direct lending for banks refers to a lending strategy where banks provide loans directly to…

Q: Explain the possible IFRS treatment of bank loans.

A: IFRS is international finance reporting standards will replace with Accounting standards 39.

Q: bank reconciliation is   Question 4 options:   a part of double entry system   not a part of…

A: Answer:- correct option is*  not a part of double entry system

Q: Bank rates on credit card balances are usually similar to the rate charged on business loans.…

A: A credit card's interest rate, often known as a 'financing charge,' is the rate levied by credit…

Q: Bank loans often are arranged under existing lines of credit. What is a line of credit? How does a…

A: LiabilitiesLiabilities are referred to as the obligations of the business towards the creditors for…

Q: when a company establishes a credit line with a bank, it is the same as borrowing from the bank True…

A: Credit line is similar to taking a loan but in credit line loan is taken on a regular basis. There…

Q: Why Central banks requires banks to hold that amount of money?  explain ?

A: Banks accept public deposits and lend that amount as loan to individual and companies at a higher…

Q: Bank loans often are arranged under existing lines of credit. What is a line of credit? How does a…

A:

Q: A bank may only take a bank deposit as collateral if the deposit was made at the same bank. a. True…

A: Collateral security refers to assets or property that a borrower pledges to a lender to secure a…

Q: Accompanying the bank statement has a memo for bank service charges. On the bank reconciliation, the…

A: Bank reconciliation: It is a statement drawn up by the business to verify the cash book balance with…

Q: what are the two most differences between the bank side and the book side of a bank reconciliation?

A: Bank reconciliation is a statement which explains the reasons of difference between the balance as…

Q: The role of comercial bank?3. The operations of the commercial bank,show the chart of this…

A: Role of commercial bank Mobilization of savings:- Banks play a very important role in mobilization…

Q: Discuss using figures how Bank Overdraft will affect the preparation of Bank Reconciliation…

A: Bank reconciliation statement is a kind of statement prepared in order to reconcile the balances…

Q: In the deposit function, banks treat interest as income. True False

A: The deposit function function is the creation of deposits through credit extension, either in the…

Q: Critically discuss the effect of deposit insurance on bank stability.

A: The deposit insurance is an insurance product that is offered to reduce or eliminate the risk of…

Q: From a bank's viewpoint, a customer's account in the bank is considered a: a.donation. b.liability.…

A: Bank statement: This is a periodic or monthly statement issued by bank reporting the account summary…

Q: Under what conditions may a bank refuse to make payment?

A: Conditions:- - when the customer has died - customer had insane or insolvent. - customer lost the…

Q: additional loan from bank should it be included in cash at hand/cash on bank

A: The company maintain certain amount of the cash for working capital management and smooth operations…

Q: Short-term commercial bank loans can be used to finance inventory and accounts receivable. TRUE…

A: Short term loans are the loans which are for period less than 1 year. Long term loans are the loans…

Q: Define bank reconciliation.

A: Bank reconciliation are done to determine the actual cash balance available both on hand and bank at…

Q: What bank regulation is designed to reduce adverse selection problems for deposit insurance? Will it…

A: Banks are the financial institutions that are involved in providing financial services to their…

Q: What is the basic obligation of a depositary bank to its depositor

A: Depositor means a person who deposits money into the bank for the purpose of savings. Depositary…

Q: Choose the correct answer: 5. Which of the following is considered effective? a. Certificates of…

A: Money Market Checking Accounts: A money market account, sometimes known as a money market deposit…

Q: What is the procedure for recording a short-term bank loan?

A: Business requires money and sometimes there exists a situation in which company or business does not…

Q: What is the purpose of preparing a bank reconciliation?

A: Bank reconciliation is prepared to reconcile the company's cash book that is reconciled with its…

Q: allows the bank clients to borrow money against a line of credit with a credit limit. a. Credit card…

A: When borrower can take money out as needed untill the limit is reached and as money is repaid it can…

Q: 3. Write the difference between debit cards and credit cards.

A: Debit cards and credit cards are the facilities offered by Financial institutions or bank.

Q: How is responsible for preparing the bank reconciliation and what is the pur Pose of it:

A: Bank Reconciliation Statement - A statement showing the business activity of the company to…

Q: Why might a business prefer a note receivable to an account receivable?

A: An account receivable is a simple promise to repay the seller done by customer which is due as a…

Q: hat is the importance of regular bank reconciliations?

A: The bank reconciliation statement is prepared to equate the balances of cash book and pass book with…

Bank Reconciliation Statement

As a commerce student, we all know that every business has to maintain a cash book to maintain all his cash and bank transactions. A cash book is a book which has two columns, one cash column and one bank column.