Show how each of the following would initially affect a bank’s assets liabilities. Someone makes $1000 deposit into a checking account. A bank makes a loan of $1000 by establishing a checking account for $1000 The loan described in part (B) is spent. A bank must write off a loan because the borrower defaults.

Why does a bank credit a customer's account when the customer makes a deposit and debit the account when the customer makes a withdrawal? O Because banks use a different method of accounting O Because the customer's account is a liability for the bank. Because the customer's account is an asset to the bank

In a bank reconciliation, interest revenue earned on your bank balance isa. added to the book balance.b. deducted from the book balance.c. deducted from the bank balance.d. added to the bank balance.

In a bank reconciliation, to adjust for an incorrect deposit of $1,000 from another company in your account requires: O reducing the bank balance by the amount of the deposit O increasing the bank balance by the amount of the deposit O reducing the book balance by the amount of the deposit O increasing the book balance by the amount of the deposit

Roger Richman owns Richman Blankets.Answer thw following questions. (a)     He asks you to explain how he should treat the following reconciling items when reconciling the company’s bank account. 1.   Outstanding checks.                                                                          Deduct from balance per bankAdd to balance per booksAdd to balance per bankDeduct from balance per books 2.   A deposit in transit.                                                                          Deduct from balance per bankAdd to balance per booksDeduct from balance per booksAdd to balance per bank 3.   The bank charged to the company account a check written by another company.                                                                          Add to balance per bankDeduct from balance per booksDeduct from balance per bankAdd to balance per books 4.   A debit memorandum for a bank service charge.…

Which one of the following items requires an adjustment on the bank side of the bank​ reconciliation?         A. interest earned   B. a bank service charge   C. a note collected by the bank   D. deposits in transit

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Select TWO true statements about money.a. Base money is equal to cash plus commercial bank reserves with the central bankb. Cash is a liability of the central bankc. If a commercial bank makes a loan and credits the borrower's current account, then base money increasesd. Commercial bank reserves with the central bank appear as a liability in their balance sheets

Please answer the following 2 questions. Thank you

Even before you use a new credit card, what information is the institution that issued your card required by law to disclose? o The rate of interest and method used to compute finance charges o The rate of interest and estimated dollar amount of finance charges o The method used to compute finance charges and estimated dollar amount of finance charges The interest rate on cash advances is generally The most common method that banks and retail credit card issuers use to compute finance charges is the average daily balance (ADB) method. You expect to actively use your card. Which variation of the ADB method will be least expensive for you? O ADB excluding new purchases O ADB including new purchases It doesn't matter Consider the following case: On June 1, Crystal's credit card has a balance of $5,626.25. According to the terms of the card's lending agreement, an interest rate of 20% per year is assessed and the monthly finance charges are calculated using the Average Daily Balance (ADB)…