A bank will consider a car loan to a customer ________ and a customer's checking account...
A bank will consider a car loan to a customer ________ and a customer's checking account to be ________.
Group of answer choices
a liability; an asset
an asset; a liability
a liability; a liability
an asset; an asset
Homework Answers
an asset; a liability
Explanation: A bank's assets include the loans advanced to borrowers and its liabilities include all deposits by its customers.
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A bank will consider a car loan to a customer ________ and a
customer's checking account...
a) A customer deposits $10,000 check into her checking account. Use a T-account to show how...
a) A customer deposits $10,000 check into her checking account. Use a T-account to show how her bank will reflect this transaction. b) Using a T-account, show how the bank will reflect the transaction once the funds become available. c) Assuming the bank has a 10% required reserve requirement, show on a T-account the required and excess reserves. d) Assume that this bank decides to make a car loan using the excess reserves from our customer's deposit. Show this transaction...
The most popular alternative loan is a(n): Group of answer choices payday loan. savings account. checking...
The most popular alternative loan is a(n): Group of answer choices payday loan. savings account. checking account. emergency fund.
Littleton Corporation reports the following information: Balance in National Bank checking account $13,002 Certificates of deposit...
Littleton Corporation reports the following information: Balance in National Bank checking account $13,002 Certificates of deposit 4,000 Petty cash 100 Cash on hand 2,580 Employees' IOUs 226 Balance in Society Bank checking account (300) Customer's postdated check 168 Balance in Peoples Savings and Loan savings account 9,000 Show all work. Compute the correct amount of cash that will appear as a current asset on Littleton Corporation's balance sheet.
Here is situation of a informing a bank of its liability when it deposits a customer's...
Here is situation of a informing a bank of its liability when it deposits a customer's check in the wrong account. Three weeks ago, you deposited a $1,000 payroll check at your bank after having signed your name to the back of the check and writing the words "For Deposit Only—Account Number 7852837" immediately above your signature (Account Number 7852837 is your checking account). Since then, you have discovered that the bank did not deposit the check in your checking...
The Richard’s Red Company maintains a checking account at the Bank of the North. The bank...
The Richard’s Red Company maintains a checking account at the Bank of the North. The bank statement for the month of October 2019 indicated the following: balance on October 1, 2019 was $32,690, deposits for October totaled $86,000, checks paid in October totaled $75,200, service charges for October totaled $350; October NSF checks totaled $1,600; a monthly loan payment deducted by the bank directly from the company’s bank account totaled $3,400; and the ending balance on October 31, 2019 totaled...
Suppose Janice takes $4,000 in coins to the bank to deposit into her checking account. Assume...
Suppose Janice takes $4,000 in coins to the bank to deposit into her checking account. Assume the reserve requirement at all banks is 20%. When Janice deposits the $4,000 into the bank, the bank can lend Mary, another one of the bank's customers, $ Suppose Mary takes the loan and use it to buy a used car from Susan. When Susan deposits the check in her bank, Susan's bank can lend $ to Eva, another one of the bank's customers....
Harrison Company maintains a checking account at the First National City Bank. The bank provides a...
Harrison Company maintains a checking account at the First National City Bank. The bank provides a bank statement along with canceled checks on the last day of each month. The July 2018 bank statement included the following information: Balance, July 1, 2018 $ 57,553 Deposits 181,000 Checks processed (194,110 ) Service charges (50 ) NSF checks (1,950 ) Monthly loan payment deducted directly by bank from account (includes $370 in interest) (4,070 ) Balance, July 31, 2018 $ 38,373 The...
Harrison Company maintains a checking account at the First National City Bank. The bank provides a...
Harrison Company maintains a checking account at the First National City Bank. The bank provides a bank statement along with canceled checks on the last day of each month. The July 2018 bank statement included the following information: Balance, July 1, 2018 $ 58,178 Deposits 181,500 Checks processed (194,610 ) Service charges (75 ) NSF checks (2,200 ) Monthly loan payment deducted directly by bank from account (includes $320 in interest) (4,320 ) Balance, July 31, 2018 $ 38,473 The...
1. Assume you are an agricultural loan officer for a bank, and a customer requests a...
1. Assume you are an agricultural loan officer for a bank, and a customer requests a loan based on the following balance sheet. Conduct a ratio analysis and give your reasons for granting or denying an additional loan. What is the weakest part of this customer's financial condition? Assets Current Assets Noncurrent Assets $40,000 $160,000 $40,000 $60,000 Liabilities Current Liabilities Noncurrent Liabilities Total Liabilities Owner Equity Total Liabilities plus Equity $100,000 $100,000 $200,000 Total Assets $200,000
1. Assume you are an agricultural loan officer for a bank, and a customer requests a...
1. Assume you are an agricultural loan officer for a bank, and a customer requests a loan based on the following balance sheet. Conduct a ratio analysis and give your reasons for granting or denying an additional loan. What is the weakest part of this customer's financial condition? Assets Current Assets Noncurrent Assets $40,000 $160,000 $40,000 $60,000 Liabilities Current Liabilities Noncurrent Liabilities Total Liabilities Owner Equity Total Liabilities plus Equity $100,000 $100,000 $200,000 Total Assets $200,000
a) A customer deposits $10,000 check into her checking account. Use a T-account to show how her bank will reflect this transaction. b) Using a T-account, show how the bank will reflect the transaction once the funds become available. c) Assuming the bank has a 10% required reserve requirement, show on a T-account the required and excess reserves. d) Assume that this bank decides to make a car loan using the excess reserves from our customer's deposit. Show this transaction...
Suppose Janice takes $4,000 in coins to the bank to deposit into her checking account. Assume the reserve requirement at all banks is 20%. When Janice deposits the $4,000 into the bank, the bank can lend Mary, another one of the bank's customers, $ Suppose Mary takes the loan and use it to buy a used car from Susan. When Susan deposits the check in her bank, Susan's bank can lend $ to Eva, another one of the bank's customers....
1. Assume you are an agricultural loan officer for a bank, and a customer requests a loan based on the following balance sheet. Conduct a ratio analysis and give your reasons for granting or denying an additional loan. What is the weakest part of this customer's financial condition? Assets Current Assets Noncurrent Assets $40,000 $160,000 $40,000 $60,000 Liabilities Current Liabilities Noncurrent Liabilities Total Liabilities Owner Equity Total Liabilities plus Equity $100,000 $100,000 $200,000 Total Assets $200,000
1. Assume you are an agricultural loan officer for a bank, and a customer requests a loan based on the following balance sheet. Conduct a ratio analysis and give your reasons for granting or denying an additional loan. What is the weakest part of this customer's financial condition? Assets Current Assets Noncurrent Assets $40,000 $160,000 $40,000 $60,000 Liabilities Current Liabilities Noncurrent Liabilities Total Liabilities Owner Equity Total Liabilities plus Equity $100,000 $100,000 $200,000 Total Assets $200,000
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