Banking Principles And Practice volume 1
Banking Principles And Practice volume 1
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In our eReader you can find the full English version of the book. Read Banking Principles And Practice volume 1 Online - link to read the book on full screen. Our eReader also allows you to upload and read Pdf, Txt, ePub and fb2 books. In the Mini eReder on the page below you can quickly view all pages of the book - Read Book Banking Principles And Practice volume 1
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Whenever a statement of the bank is made, therefore, among the assets will appear Due from Banks, and among the liabilities Due to Banks.
If a draft is sold by the local bank, the Due from Banks is reduced by the face amount of the draft. Undivided Profits is increased by the charge for exchange, and, if the face of the draft and the exchange charge are paid in cash, Cash will be increased by these amounts. If, however, the buyer of the draft pays by check on the selling bank, Deposits is reduc...ed, and if by check on other banks, Due from Banks is increased.
When items are received for collection and credit, the local bank credits the remitter's (or depositor's) account with the face amount of the items that is, credits Deposits and carries items among the assets as Collection Items in process of collection; when collected, either Cash or Due from Banks is increased. Checks on local clearing house banks are usually separated from checks on out-of-town banks and are reported as Clearing House Items.
What to read after Banking Principles And Practice volume 1?
You can find similar books in the "Read Also" column, or choose other free books by Ray Bert Westerfield to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
Whenever a statement of the bank is made, therefore, among the assets will appear Due from Banks, and among the liabilities Due to Banks.
If a draft is sold by the local bank, the Due from Banks is reduced by the face amount of the draft. Undivided Profits is increased by the charge for exchange, and, if the face of the draft and the exchange charge are paid in cash, Cash will be increased by these amounts. If, however, the buyer of the draft pays by check on the selling bank, Deposits is reduc...ed, and if by check on other banks, Due from Banks is increased.
When items are received for collection and credit, the local bank credits the remitter's (or depositor's) account with the face amount of the items that is, credits Deposits and carries items among the assets as Collection Items in process of collection; when collected, either Cash or Due from Banks is increased. Checks on local clearing house banks are usually separated from checks on out-of-town banks and are reported as Clearing House Items.
What to read after Banking Principles And Practice volume 1?
You can find similar books in the "Read Also" column, or choose other free books by Ray Bert Westerfield to read onlineMoreLess
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