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Phantasy [73]
3 years ago
9

Consider a bank balance​ sheet, with​ "Assets" on the left and​ "Liabilities" on the right side. Identify where the following it

ems belong. I. Deposits this bank holds in an account with another private bank Deposits this bank holds in an account with another private bank. II. Borrowings from another bank in the interbank loan market Borrowings from another bank in the inter bank loan market. A. Both liabilities. B. Both assets. C. ​I: assets;​ II: liabilities. D. ​I: liabilities;​ II: assets.
Business
1 answer:
Anvisha [2.4K]3 years ago
7 0

Answer:

C. ​I: assets;​ II: liabilities.

Explanation:

Assets are the physical and intangible properties of business or individual. They are resources used in generating revenues or profits for a business. Assets add value or increase the capital of a company.  Examples of assets include cash, inventory, investments, office equipment, and plant and machinery.

Liabilities are debts or obligations that a firm or individual owe to other entities or individuals. Liabilities decrease the net value of a company. Examples of liabilities include Bank debt, money owed to suppliers (accounts payable), Wages owed,  and Mortgage debt.

Cash belonging to a bank but held in another bank account is, therefore, an asset, while money borrowed is a debt, hence a liability.

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aliina [53]
The answer is B . because i said so .
3 0
1 year ago
Suppose you the alternative of receiving either $22,000 at the end of five years or P dollars today. Currently, you have no need
Marysya12 [62]

Answer:

Indifference amount= $17,237.58

Explanation:

Giving the following information:

Suppose you the alternative of receiving either $22,000 at the end of five years or P dollars today.

We need to find the present value of $22,000 at an interest rate of 5%.

PV= FV/(1+i)^n

PV= 22,000/ 1.05^5= $17,237.58

4 0
3 years ago
Which of the following statements are true? All costs in a merchandising company are period costs. Inventoriable costs are expen
Maslowich

Answer:

Period costs are expensed when incurred and Period costs do not flow through the inventory accounts.

Explanation:

Period Costs are not included in the valuation of the product and these mostly include all non-manufacturing costs. They are included as an expense in the period in which they are incurred.

5 0
2 years ago
When the auditors obtain an understanding of internal control for the financing cycle documentation will frequently include a wr
dedylja [7]

When the auditors obtain an understanding of internal control for the financing cycle, documentation will frequently include a written description as well as a(n):     Summary of tests of controls.

Why is it important for an auditor to obtain an understanding internal control?

The auditor should obtain an understanding of how IT affects control activities that are relevant to planning the audit. Some entities and auditors may view the IT control activities in terms of application controls and general controls.

When assessing the competence of the internal auditors An auditor should obtain information about the?

When assessing the competence of the internal auditors, an independent CPA should obtain information about the: quality of the internal auditors' working-paper documentation.

What are the specific duties imposed on the auditor regarding internal control and internal audit?

Assess the company's risks and the efficacy of its risk management efforts. Ensure that the organization is complying with relevant laws and statutes. Evaluate internal control and make recommendations on how to improve. Identifying shortfalls or gaps in processes

Learn more about financing cycle:

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7 0
1 year ago
Bryant Company sells a wide range of inventories, which are initially purchased on account. Occasionally, a short-term note paya
masya89 [10]

Answer:

1. January 10:

Inventory account increases by $25,500

Account payable increases by $25,500;

Total asset will increase by $25,500 and total liabilities will increases by $25,500. Equity remains the same.

March 1:

Cash account increases by $55,000.

Promissory note payable increases $55,000

Total asset will increase by $55,000 and total liabilities will increases by $55,000. Equity remains the same.

2.

The amount of cash will be paid at maturity date (Sep 1) of the note is $56,787.5

3.

Jan 10: debt-to-assets ratio = 0.70, thus increase in Debt to asset ratio comparing to the ratio 0.69 at the beginning

March 1: debt-to-assets ratio = 0.72, thus increase in Debt to asset ratio comparing to the ratio 0.69 at the beginning

Explanation:

- Working note for 2: Repayment will include Face value + Interest rate expenses incurred = 55,000 + 55,000 * 6.5% *6/12 = $56,787.5

- Working note for 3:

Jan 10: Debt-to-asset ratio = (450,000 + 25,500) / (650,000 + 25,500) = 0.70

Mar 1: Debt-to-asset ratio =(450,000 + 55,000) / (650,000 + 55,000) = 0.72

6 0
3 years ago
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