Tutorial 2_answers

Calculate the profit of a bank by preparing income and expenditure statement. -Assume that you are an accountant in a PNZ Bank. From the following particulars, prepare the profit and loss account of bank PNZ for the year ended 31-03-2020. Particulars OMR Particulars OMR Locker rent Discount on bills discounted Director and auditor fee Establishment Expenses Interest on loan Interest on fixed deposit Interest on cash credit Sundry expenses Impairment for credit loss Transfer fee Fee and commission expenses Provision for doubtful debts Decrease in net changes in face value of sale of investment 70,000 2,100,000 50,000 600,000 2,800,000 2,980,000 2,400,000 20,000 2,000 5,000 25,000 300,000 900 Interest on current account Interest on over draft Interest on savings bank account Postage and telegram Printing and stationary Discount on bills discounted Rent and taxes Income tax expenses Depreciation Fee and commission income Profit on exchange difference arising on foreign…

A bank has the following balance sheet: Assets Liabilities Cash 100 Deposits 600 Government bonds 100 Long term debt 185 Secured mortgages 200 Common Equity 15 Commercial loans 400 All questions are for Basel U. a) Calculate risk weighted assets. b) Does the bank satisfy capital requirements under Basel I? If the bank does not satisfy the requirement, what should it do? Give two examples and show your calculations.

Fill in the entries in the following T-accounts when central bank sells TL 100.000 of government bonds to Halkbank Assets Halkbank Liabilities Central Bank Assets Liabilities

Which of the following is/are primary sources of data? i. Data collected by a bank through telephone calls from the credit card customers to gain an insight on their satisfaction level. ii. Previous records of Commission received to be used to prepare forecasts for next year. iii. Data collected from Global Business review about recent market trends

How effective is the organization in collecting its receivables?   Use the Hillside, Inc. Balance Sheet information in cells A2 through D18 and cells A21 through B38 to complete the Financial Performance Calculations in cells A40 through C60. Table 1: Hillside, Inc. Balance Sheet ($ in Millions)             ASSETS   LIABILITIES         Cash & Marketable Securities                 449.90 Accounts Payable  1,611.20       Accounts Receivable                 954.80 Salaries Payable     225.20       Inventories              3,645.20 Other Current Liabilities  1,118.80       Other Current Assets                 116.60 Total Current Liabilities  2,955.20         Total Current Assets              5,165.27               Other Liabilities     693.40       Machinery & Equipment              1,688.90           Land              1,129.70   Total Liabilities  3,648.60       Buildings              2,348.40           Depreciation               (575.60) SHAREHOLDER'S…

Brief introduction/background of the CIBC bank.

Can you calculate the liquidity securities indicator? Round your answer to the nearest two decimals if needed. Type your answer as percentage and not as decimal (i.e. 5.2 and not 0.052). Do not type the % symbol. Hint: Make sure to learn the other liquidity indicators as well. Cash and deposits held at depository institutions Government Securities Federal funds sold Net loans and leases Total Assets Federal funds purchased Demand deposits Time deposits Millions 699 207 213 3,569 208 1,385 2,832

Study 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

Attached is some information about DGA Groceries. Use this information to prepare a bank reconciliation for April 30, 2020.  Bank of Edmonton Downtown Edmonton, Alberta, Canada Bank Statement Period: Apr 1 - 30, 2020           Client Name DCA Groceries        Account Number 7800-7802364                 Description Deposit Withdrawal Date Balance Balance Forward     1-Apr-20     15,032.00 Cheque#7801010            200.00 1-Apr-20     14,832.00 EFT                 2,900.00   1-Apr-20     17,732.00 Cheque Deposit                 1,800.00   2-Apr-20     19,532.00 Cheque Deposit                    800.00   3-Apr-20     20,332.00 Cheque#7801012         1,500.00 3-Apr-20     18,832.00 Cheque#7801013         1,912.00 3-Apr-20     16,920.00 Checque Deposit               13,200.00   3-Apr-20     30,120.00 Cheque#7801014            110.00 6-Apr-20     30,010.00 Cash Withdrawal            100.00 7-Apr-20     29,910.00 Cash Deposit                 1,275.00…

Attached is some information about DGA Groceries. Use this information to prepare a bank reconciliation for April 30, 2020.  Bank of Edmonton Downtown Edmonton, Alberta, Canada Bank Statement Period: Apr 1 - 30, 2020           Client Name DCA Groceries        Account Number 7800-7802364                 Description Deposit Withdrawal Date Balance Balance Forward     1-Apr-20     15,032.00 Cheque#7801010            200.00 1-Apr-20     14,832.00 EFT                 2,900.00   1-Apr-20     17,732.00 Cheque Deposit                 1,800.00   2-Apr-20     19,532.00 Cheque Deposit                    800.00   3-Apr-20     20,332.00 Cheque#7801012         1,500.00 3-Apr-20     18,832.00 Cheque#7801013         1,912.00 3-Apr-20     16,920.00 Checque Deposit               13,200.00   3-Apr-20     30,120.00 Cheque#7801014            110.00 6-Apr-20     30,010.00 Cash Withdrawal            100.00 7-Apr-20     29,910.00 Cash Deposit                 1,275.00…

Using the stylized balance sheet below, please 1) finish the balance sheet, and 2) use that information to answer the following question, entering your answer in the place provided. Avg. Avg. Amount Amount Interest Interest Demand Vault Cash $1,573 $1,123 Deposits US Treas. Savings 3.43% 2,212 3.02% 8,497 Securities Deposits Consumer/Bus. 8.23% 15,315 CD's 3.54% ???? Loans Mortgage 6.82% 8,719 Borrowings 3.10% 2,747 Loans Property 2,032 Equity 3,423 Equipment Total Liab.& Total Assets ???? ???? Equity What is the net interest income the this bank? (Please enter the answer to the nearest penny!) ed 39,211.64 ver 1,091.41 margin of error +/- 1

B1. Account the fed makes a $100 million loan to the A bank. Show this transaction on the balance sheet of banking system and the fed.?

Consider the balance sheet for Inspired to Thrive (IT) Bank below: Inspired to Thrive Bank Balance Sheet as at December 31, 2021 Assets SLiabilities and Owner's Equity 275 Deposits 1,105 Debts 660 Owner's Equity Reserves 1,550.00 Loans 340.00 Securities 150.00 2,040 2,040.00 What is the leverage ratio of IT bank? Why is this ratio significant to the bank's operation?

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…

Using T-accounts, show what happens to checkabledeposits in the banking system when the Fed lends$1 million to the First National Bank

Part 1. Prepare bank reconciliation for swing set company at march 31 2022

BANK RECONCILIATION AND JOURNAL ENTRIES - In the Bank Reconciliation Template, prepare a bank reconciliation and complete the adjusting entries required. Then upload the completed template to the Lab 17 Upload Link. Use the following data that were accumulated for use in reconciling the bank account of Star Battles Restaurant for-October 2020: a. The bank service charge is $70. b. The book balance is $6,100 at October 31, 2020. c. Outstanding checks total $1,300. d. An automatic EFT withdrawal was taken from the account to pay utilities in the amount of $2,700. A check from LukeCo for $3,500 was returned for nonsufficient funds. f The bank received an EFT from Leah Corp and deposited S14,300 in the account. The EFT was from Leah Corp to pay rent. | The bank balance at October 31, 2020 was $9,730. e. h The bank collected a note in the amount of $1,500 deposited the cash in Vader's account at the bank but Vader has not yet entered the amount in the books. The total of $1,500 consists of…

Create a balance sheet with the following information. Create a balance sheet for the following information. Bank Accoutns recievable Equipement Accounts payable Long-term debt Capital Retained earning Withdrawis msi in ^ 00 C 4 I P JOOOOL K V B m 2050 6100 900 150 2000 5000 10900 9000 0 ALTOR in

Illustrate the effects of accepting the note from Valley Designs on the accounts and financial statements of Bork Furniture Company.   Financial Statement Effects       Balance Sheet     Assets = Liabilities + Stockholders' Equity     +   =   +   Apr. 20. fill in the blank 5   fill in the blank 6   fill in the blank 7   fill in the blank 8   Statement of Cash Flows   Income Statement       fill in the blank 10     fill in the blank 12       b.  Determine the due date of the note.   c.  Determine the maturity value of the note. To simplify, use 360 days per year to compute interest.$fill in the blank 14 d.  Illustrate the effects of receiving payment of the note from Valley Designs at its maturity on the accounts and financial statements of Bork Furniture Company.   Financial Statement Effects       Balance Sheet     Assets = Liabilities + Stockholders' Equity     +   =   +   Aug. 18. fill in the blank 19   fill in the blank…

Suppose that Bank of America sells $10 million in Treasury bills to PNC Bank. Use T-accounts to show the effect of this transaction on the balance sheet of each bank Bank of America Assets Liabilities Reserves Securities PNC Bank Liabilities Reserves Securities

q7 Which of the following holds deposits, makes loans and provides other financial services to member-owned organizations? a. Mutual Funds b. Central Bank of Oman c. Commercial Banks d. Cooperative Banks   q8   Financial market does have a location such as. a. Bank Muscat b. Knowledge oasis Oman c. Muscat grand mall d. Chamber of commerce

Give typing answer with explanation and conclusion A bank has the following assets: cash and government bonds of $31.07, government agency bonds of $22.3, mortgages of 66.21, and loans to individuals and corporations of 133.46. According to Basel 1, what is the ratio of the bank's risk-weighted assets to total assets? Express in % to the nearest 0.01%; drop the % symbol. Blank 1. Calculate the answer by read surrounding text.

The following is the trail balance of Gulf Bank at 31/12/2022, Name of the account No 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 Cash and the balances at the central bank Other operating expenses Treasury bills Placement with the bank and other financial institutions Loan and advances Investments securities Investment in associates. Interest receivable and other assets Property and equipment Goodwill and other intangible assets Due to the banks and other financial institutions Borrowing under repurchase agreements Customer deposits Share capital Share premium Interest income Interest expenses Net fees and commission income Other income Staff expenses Depreciation, amortization, and equipment expenses TOTAL Debit BD millions 343.7 11.2 468.7 295 2975.5 1258.6 25 93.5 85 45.5 37.8 38.5 25 5703 Credit BD millions 650 120 3284.2 1418.7 11.4 173.3 24.8 20.6 5703 Requirements: Prepare the income statement and balance sheet of Gulf Bank on 31/12/2022?

Which of the items below are typically ASSETS for a commercial bank?(Select all that apply; three of the answers below are correct) reference: chapters 11 & 12    Customer Deposits (such as checking & savings accounts)        Investment Securities (such as treasury bonds & money market securities)        Vault Cash & Deposits at the Federal Reserve        Customer Loans (such as mortgages or small business loans)        Borrowed Funds (such as short-term borrowing from other banks, or from the Federal Reserve)

courses / FINA 415-1-20201 / General/ FINAL EXAM- FINA 415- FALL 2020- Which of the Deposits in the bank provides facility for bank overdraft? Select one: O a. Current Deposits O b. Savings Deposits O c. Overdraft O d. Recurring Deposits O e. Time Deposits Clear my choice

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…

5. The balance sheet of the central government account shows the following balances as at the end of the year 31/12/2019 Assets Cash at Bank Advances: Staff Department and Agencies Loans: NGO's Public Corporations. Companies Investment: General Stocks and shares International Agencies Liabilities Loans: Domestic Foreign Trust Funds and Deposits Other Liabilities General Revenue Revenue GHC 000 Tax Revenue (690) 6,325 4,186 48 8,846 6,248 714 5,293 4.786 35,756 During the year 2020, the government financial business and transactions undertaken by the departments were summarized; GHC 5,922 13,854 11,980 2,077 1.923 35,756 Property Excise Duties Petroleum Tax Other taxes on domestic goods Import Duties Export(Cocoa) Value Added Tax (VAT) Personal taxes (PAYE) Personal taxes (Self Employed) Reconstruction Levy Fees and Charges Sales of goods and services. Rent Interest and Profit Dividend Company taxes Revenue Grant Advances-Recovery Trust Funds: Deposits-Receipts Expenditure Personal…

A bank statement ☐ is a bill from the bank for services rendered ☐ lets a depositor know the financial position of the bank as of a certain date О shows the activity which increased or О decreased the depositor's account balance is a credit reference letter written by the depositor's bank

Please prepare the bank reconciliation statement on 31 May 2021 in your activity book from information . Please do it in the attached format. All information needed has been attached

PROBLEM 1: You obtained the following information on the current account of BUGOY CORP. During your examination of its financial statements for the year ended December 31, 2021. The bank statement on November 30, 2021 showed a balance of P918,000. Among the bank credits in November was customer's note for P300,000 collected for the account of the company which the company recognized in December among its receipts. Included in the bank debits were cost of checkbooks amounting to P3,600 and a P120,000 check which was charged by the bank in error against Bugoy's account. Also in November you ascertained that there were deposits in transit amounting to P240,000 and outstanding checks totaling P510,000. The bank statement for the month of December showed total credits of P1,248,000 and total charges of P612,000. The Company's books for December showed total debits of P2,206,800, total credits of P1,221,600 and a balance of P1,456,800. Bank debit memos for December were: No. 121 for service…