Marcy bought a new pair of designer shoes and a matching purse. She paid using a method that would immediately deduct the amount she spent from her bank account. How did she pay? A Debit Card B Check C Cash D Credit Card

Q: Commercial bank A lends £1,000 to Mr B, who uses it to buy a car from Mrs C, paying by bank transfer…

A: Explanation :  As the money changed just changed from account of one bank to account of other bank ,…

Q: Record the amount for check #101 in her check register.

A: Since we are not given the current balance of Zoe's Account, the balance after recording the…

Q: Karim's financial accounting records show Karim's cash account with ending balance of $580. Karim…

A: Bank Reconciliation Statement :— This statement shows the reconciliation of balance as per bank…

Q: Which statement about credit cards is true?

A: A credit card is a plastic card that allows you to that allows the holder of the card to make…

Q: Identity Theft Resource Center (ITRC) provides consumer and victim support, public education, and…

A: A bank reconciliation statement aligns an organization's bank account with its financial documents…

Q: Properly record these transactions in order of occurrence, i.e. establish, reimburse, increase, in…

A: Petty Cash It is a small amount of cash which is kept by business units to cover minor expenses, Eg:…

Q: Identify, from the above scenario, the risks and control objectives relating to cash.…

A: In the present case it's evident that there are a lot of cash sales is happening and cash is been…

Q: Jul 2 Recommended to the owner, Jen Beck, that she put some of the cash into a Money Market…

A: QuickBooks is an accounting software package which has various tools like accounting, inventory,…

Q: Your checkbook balance shows $706.50. The bank statement shows $772.77. The bank paid $2.50…

A: Bank statement refers to a statement that shows the debit or credit in the customer accounts of the…

Q: Rashid pays for the motor van bought from Lang Ltd by bank transfers. The correct entry will be:

A: A journal entry is the recording of financial transactions in books of the business entity. It…

Q: - 5 The U.S. Chamber of Commerce provides a free monthly bank reconciliation template at…

A: The answer is as fallows

Q: Fill in the check register and then reconcile the bank account.

A: A check register is a statement of the amount of deposit and the amount of the withdrawals. The…

Q: Natalie decides that she cannot afford to hire John to do her accounting. One way that she can…

A: Bank Reconciliation Statement: Bank statement is prepared by the bank. The company maintains its own…

Q: 3. Rachelľ's checkbook balance is $1,906.13. Items on her bank statement, not in her check register,…

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

Q: Esther had a balance of $4,145.28 in her checking account.She wrote checks for $88.90 and $324.75.…

A: Checking account means an account with banks or other financial institution where we can deposit out…

Q: Kay Breeze receives the March bank statement for success systems on April 11, 2005. The March 31…

A: Bank reconciliation statement is prepared to reconcile the balances as per bank and cash book.

Q: Having just completed Professor Hirt's ACNT 1303 course, Jeannette decides to set up a Petty Cash…

A: The petty cash fund is maintained by business to make the daily small business expenses.

Q: Which account is debited if a client pays 5,000 by check? A cash of 875 is taken from the bank…

A: Account Entry will be made for client pays 5,000 by check: Dr. Cash                           5,000…

Q: Further checks revealed the following during 2018: During the financial year a trade debt of $10,200…

A: The following figures are calculated for the records of Pasty Knight for the end of year 2018.

Q: John is a night-club owner with a large amount of money in his business account. He authorized his…

A: Answer:-  Online banking:- Online banking, often known as internet banking is a kind of electronic…

Q: 2. On your mother's birthday, you bought her a new iPhone from Best Buy. Assume that you mad your…

A: Note: As per answering guidelines, in the case of multipart questions, only the first three subparts…

Q: Peter uses a savings account with a bank. The contract between Peter and the bank is one of: D.…

A: Peter uses a savings account with a bank. The savings account is a primary account type that lets…

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: Bank Reconciliation Lidia has the following information from her books and her August bank…

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

Q: 6 Trey James sold his bike and received a check for eighty-five dollars and 50 cents. What is the…

A: The total deposit is the sum of all forms of money deposited in the account. This may be in the form…

Q: Mandy opened a checking account with $123. She overdrew her account by $8, and then deposited an…

A: Overdraw" refers to the act of withdrawing or spending more money from a bank account than what is…

Q: Mandy was needing some more office supplies. She only needed about $25 worth of supplies. She went…

A: When Mandy received money from the petty cash lockbox, she would have been asked to fill out a…

Q: Exposure from stolen ATM card. Suppose someone stole $1,000 dollars from your checking account. How…

A: ATM cards are issued by Visa and MasterCard that are connected to checking accounts. Debit cards are…

Q: Using a debit card will take money directly out of this Checking Savings Both account Best for money…

A: Checking account - It is a type of bank deposit account that is meant for daily money transactions.…

Q: ABC Savings and Loan charges a monthly fee of $10 on checking accounts and an overdraft protection…

A: Banks send the monthly account statements in that they send details of money withdrawn and money…

Q: Banks are finding more ways to charge fees,such as a $34.60 overdraft fee. Sue McVickers has an…

A: A Bank Reconciliation Statement aligns an organization's bank account with its financial documents…

Q: Sal's Surf Shop deposits all receipts in the bank and makes all payments by check. On July 31 the…

A: Bank Reconciliation is prepared to reconcile the balance per book with the balance per bank. Any…

Q: 22) Ahmed discounts the bill with the bank, the acceptor of the bill being Salma. Till the day the…

A: Bill of discount is a credit facility provided by the bank where the seller can cash the bill…

Q: The money in your personal checking account is counted as:   A. Neither M1 nor M2 money   B. M1…

A: Money Supply refers to total money at stated point in economy. Money Supply is a Stock concept and…

Q: None

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

Q: After posting the journal entries to the Cash T-account, the balance in the Čash T- account should…

A: Cash T-account: It is a ledger account that carries the opening balance of cash, records debits, and…

Q: is a short term loan against your credit card. Instead of using the credit card to make purchases or…

A: The credit card provides facilities to buy goods and services as well as withdraw cash for different…

Q: Identity Theft Resource Center (ITRC) provides consumer and victim support, public education, and…

A: Bank reconciliation is a process of comparing the bank statement and checkbook, ensuring that all…

Q: Ken is a customer at Orange Grove Bank and frequently banks online. One day he receives an email…

A: So as to compute the social benefits, and other entitlements, of a worker social security number was…

Motor Vehicle Insurance

Motor vehicle insurance is a contract between the insurance company that provides insurance cover and the person who owns the vehicle. According to the terms and conditions of the insurance contract, the insurance company reimburses the policyholder for losses and damages. This insurance policy covers the financial risks of the motor vehicle owner. Electronic vehicles are also covered in a vehicle insurance policy, but the insurance rate is relatively higher than other motor vehicle insurance. Motor vehicle insurance is otherwise called an automotive insurance policy.