Explain how you, as the Branch Manager of your bank will respond to the following issues/happening...
Explain how you, as the Branch Manager of your bank will respond
to the following issues/happening in your branch.
f.Mr Nimako sent a stop order notice to his bankers on a cheque he
drew for a customer after he noticed the goods were defected. Your
bank received the letter at 9.45am today. At 11.05am the cheque in
question was presented for payment.
Homework Answers
As the branch manager of the bank, I would instruct the department to not complete the payment for the cheque as we have already received a stop order. Since, Mr. Nimako drew the check, he has the rights to ask for stop payment.
Add Answer to:
Explain how you, as the Branch Manager of your bank will respond
to the following issues/happening...
Using the following information, write a formal business letter. You are a writer who writes articles...
Using the following information, write a formal business letter. You are a writer who writes articles for a finance magazine, Money Wise. You have decided to go on a sabbatical to further your research on financial literacy in other countries and you are keen to receive payment for an article you wrote three (3) months ago. The editor, Mr Tony Starck, has been very slow in paying you and when you send him a reminder notice, you are surprised when...
Accounting
The Income Statement of Adom Enterprise for the year ended 31st March, 2020 as prepared by an AccountsAssistantindicatedanetprofitofGHS148,080.Though,thecashbookon31st March,2020 showed a balance at bank to be GHS 13,460. Your attention is however drawn to the following:i) Cheques from customers totalling GHS 14,940 which were recorded in the cash book onMarch 25, 2020 were not credited by the bank until April 2, 2020.ii) Cheques issued on March 13, 2020 totalling GHS 22,260 in favour of suppliers were not paidby the bank...
Accounting ii) QUESTION 3 The Income Statement of Adom Enterprise for the year ended 31" March,...
Accounting
ii) QUESTION 3 The Income Statement of Adom Enterprise for the year ended 31" March, 2020 as prepared by an Accounts Assistant indicated a net profit of GHS 148,080. Though the cash book on 31 March, 2020 showed a balance at bank to be GHS 13.460. Your attention is however drawn to the following: i) Cheques from customers totalling GHS 14,940 which were recorded in the cash book on March 25, 2020 were not credited by the bank until...
QUESTION 3 The Income Statement of Adom Enterprise for the year ended 31" March, 2020 as...
QUESTION 3 The Income Statement of Adom Enterprise for the year ended 31" March, 2020 as prepared by an Accounts Assistant indicated a net profit of GHS 148,080. Though, the cash book on 31" March, 2020 showed a balance at bank to be GHS 13,460. Your attention is however drawn to the following: Cheques from customers totalling GHS 14,940 which were recorded in the cash book on March 25, 2020 were not credited by the bank until April 2, 2020....
The following cases describe internal control structures for companies. (a) When Sharon Leung, purchasing agent for...
The following cases describe internal control structures for companies. (a) When Sharon Leung, purchasing agent for Charlie Cosmetics Ltd., orders materials, she sends a duplicate copy of the purchase order to the receiving department. When materials are received, Joe Chang, receiving clerk, records the date of receipt on the copy of the purchase order but does not count the goods received. The same copy of the purchase order is sent to accounting, where Lisa Ho uses it to support the...
Question 2 Bank reconciliations and cash It is now January 2020, and Harry Smith has come...
Question 2 Bank reconciliations and cash It is now January 2020, and Harry Smith has come to you for some assistance as he is having trouble reconciling the bank account as at 31 December 2019.The December 2019 bank statement appeared as follows: Bank statement for December 2019: Date Description Deposit Withdrawal Balance 1/12/2019 Opening balance $14,550.00 1/12/2019 Loan application fee 300.00 $14,250.00 2/12/2019 EFT - Harry Smith Drawings 1,000.00 $13,250.00 5/12/2019 Deposit 1,650.00 $14,900.00 5/12/2019 Cheque 43 440.00 $14,460.00 11/12/2019...
You are the manager at the Paint-a-Plenty, a small independently owned paint supply store in Upper...
You are the manager at the Paint-a-Plenty, a small independently owned paint supply store in Upper Northeast Maryland. Four weeks ago, one of your employees reported that there had been an incident on their shift where a customer had slipped and fallen when a small cup of coffee had been spilled near the cash register. The coffee had been spilled by the customer immediately ahead of the customer who had slipped and fallen. Since your employee was the only employee...
Suppose you are the general manager of a local company that produces dry cleaning fluid. Your company...
Suppose you are the general manager of a local company that produces dry cleaning fluid. Your company is located along a river in a community where the environmental laws are very lax and rarely enforced. However, the community believes very strongly about environmental issues. The CEO comes up to you one day. You admire his work ethic and he is a personable individual. However, the company was inherited from his father and he has little to no business or practical experience. “We need...
The questions all relate to the following fact pattern: Two gentlemen walk into your CPA office...
The questions all relate to the following fact pattern: Two gentlemen walk into your CPA office and tell you that they wish to start a business. The facts as they relate them to you are as follows: The two men are brothers named John and Bill Harris. John has developed a secret recipe for beer battered fried walleye nuggets. Bill has lots of money and is interested in starting a business with his brother but has no experience in the...
21. Suppose you are now a Founder and CEO of Rent the Dresses, Inc., an online rental site for premium dresses primarily for women. Because the business is a start-up, there is no accountant on t...
21. Suppose you are now a Founder and CEO of Rent the Dresses, Inc., an online rental site for premium dresses primarily for women. Because the business is a start-up, there is no accountant on the management team yet, so you have been doing the accounting. You notice that an average of 100,000 visitors come to your website, of which 60% browse through the website, 20% of them register and put at least one item in the shopping cart. One...
Accounting
ii) QUESTION 3 The Income Statement of Adom Enterprise for the year ended 31" March, 2020 as prepared by an Accounts Assistant indicated a net profit of GHS 148,080. Though the cash book on 31 March, 2020 showed a balance at bank to be GHS 13.460. Your attention is however drawn to the following: i) Cheques from customers totalling GHS 14,940 which were recorded in the cash book on March 25, 2020 were not credited by the bank until...
QUESTION 3 The Income Statement of Adom Enterprise for the year ended 31" March, 2020 as prepared by an Accounts Assistant indicated a net profit of GHS 148,080. Though, the cash book on 31" March, 2020 showed a balance at bank to be GHS 13,460. Your attention is however drawn to the following: Cheques from customers totalling GHS 14,940 which were recorded in the cash book on March 25, 2020 were not credited by the bank until April 2, 2020....
The following cases describe internal control structures for companies. (a) When Sharon Leung, purchasing agent for Charlie Cosmetics Ltd., orders materials, she sends a duplicate copy of the purchase order to the receiving department. When materials are received, Joe Chang, receiving clerk, records the date of receipt on the copy of the purchase order but does not count the goods received. The same copy of the purchase order is sent to accounting, where Lisa Ho uses it to support the...
21. Suppose you are now a Founder and CEO of Rent the Dresses, Inc., an online rental site for premium dresses primarily for women. Because the business is a start-up, there is no accountant on the management team yet, so you have been doing the accounting. You notice that an average of 100,000 visitors come to your website, of which 60% browse through the website, 20% of them register and put at least one item in the shopping cart. One...
Most questions answered within 3 hours.
-
The AASB Conceptual Framework (2.12-2.19) refers to ‘faithful
representation’ as being necessary for financial information to...
asked 4 minutes ago -
A U.S. corporation with net receivables in euro could hedge by
_________________.
A. buying euro forward...
asked 6 minutes ago -
Consider the following reversible reaction: CO2 +
H2O <--> H2CO3.In which
direction (right or left) will...
asked 9 minutes ago -
Which of the following probabilities indicates a relationship
that is not statistically significant?
Group of answer...
asked 10 minutes ago -
QUESTION 8
Which layer of the TCP/IP hierarchy presents incoming messages
to the computer user?
a....
asked 17 minutes ago -
A solenoid a cross-sectional area of 5.4x10^-4 m^2, consists of
540 turns per meter, and carries...
asked 28 minutes ago -
Explain some of the pros and cons of converting a C Corporation
into an S Corp?...
asked 32 minutes ago -
The diagram below shows a meter shunted by a parallel resistance
Rs. The maximum value for...
asked 33 minutes ago -
Be sure to answer all parts. A solution contains 0.107 mol of
NaCl dissolved in 9.35...
asked 32 minutes ago -
1. An 25.96 g sample of aluminum is placed on a 45.15 g sample
of copper...
asked 42 minutes ago -
Calculate the mass of p-dichlorobenzene (mm=147.00 g/mol) that
when dissolved in 125 ml cyclohexane (d=0.779 g/mol,...
asked 50 minutes ago -
An infinitely long solid conducting cylindrical shell of radius
a = 3.8 cm and negligible thickness...
asked 48 minutes ago