What type of account does the account balance represent

Reference no: EM131527423

Question: Banks rely heavily upon customers' deposits as a source of funds. Demand deposits normally pay interest to the customer, who is entitled to withdraw at any time without prior notice to the bank. Checking and NOW (negotiable order of withdrawal) accounts are the most common form of demand deposits for banks. Assume that LaDuke Storage has a checking account at City Savings Bank. What type of account (asset, liability, stockholders' equity, revenue, expense, dividends) does the account balance of $15,500 represent from the viewpoint of

(a) LaDuke Storage and

(b) City Savings Bank?

Reference no: EM131527423

Questions Cloud

Planning relate to segregation of duties : What is succession planning and how does succession planning relate to segregation of duties?

Identify your independent and dependent variables : Identify your independent and dependent variables and their measures.State the assumptions of each theoretical perspective.

What is the company worth today : Sparkling Water, Inc., expects to sell 2.88 million bottles of drinking water each year in perpetuity. What is the company worth today.

How do you think both the culture of the colonists : How do you think both the culture of the colonists and the geography of the areas they settled affect the development of the future US

What type of account does the account balance represent : Banks rely heavily upon customers' deposits as a source of funds. Demand deposits normally pay interest to the customer, who is entitled to withdraw.

What should be the average beta of the new stocks : What should be the average beta of the new stocks added to the portfolio?

Who was the person or team who created the company : Who was the person or team who created the company? Identify at least three benefits of purchasing and using this product

What types of accounts are closed by transfer their balances : During the month, Gilbert Labs Co. has a substantial number of transactions affecting each of the following accounts.

Target capital structure-common equity-rest long term debt : XYZ has a target capital structure of 31 percent common equity and the rest long term debt.

User Account

All Pages