Assignment 3

b. There are two differences between the bank statement and the check register. Describe each of them. (2-4 sentences. 1.0 points) TIP: These are transactions that Jessie

a. What is the total balance of Jessie Robinson 's real estate account? (0.5 points)

Before researching financial institutions, first identify your banking habits. Are you a check writer, or a debit card user? Would you rather have full access your account online, or would you rather conduct transactions in person? Although most banks and credits unions provide these basic features that coincide with many types of checking a savings account, it’s important to address any fees that support the services.

b. What is the total balance of Jessie Robinson 's revolving account? (0.5 points) N/A

In conclusion, the credit union of the future will best serve its members by offering low interest rates, friendly service, and a chance to have a say in decisions. Credit unions are superior to banks in most aspects, and they are nonprofit, which is beneficial to the

f) To evaluate the material misstatement in the accounts, I think both of the consolidated income statement and the three financial statements are useful. We need to use the information properly from all the financial statements. However the consolidated income statement is the most useful one. If there is a significant change in an account balance comparing with preceding two years, the auditor will examine whether there a material misstatement exists. For instance, the bad debt expense as a percent of net sales in 2011, 2010 and 2009 are 0.56%, 0.70% and 0.69%, respectively. There should

Individuals should take the time to carefully review their bank statement in order to help secure their own accounts and the things that banks overlook.

Name: ________________________________ Date: _________________ [1]BASIC BANK01 - BAT 003 Which of the following statements is true? A. An asset account is increased by a credit B. An expense account is increase by a credit C. A revenue account is decreased by a credit D. An equity account is decreased by a debit [2]BASIC BANK02 - BAT 010 The Income Summary account contains: A. Total revenues and total expenses for the year B. Total assets and total liabilities at year end C. Total revenues, expenses, assets, and liabilities

2. Now find that little memo paper that comes with your checks and slips right beside your checkbook. Its designed to keep accurate of your all your income and transactions, deposits, any ATM withdrawals, monthly fees, any automatic payments and any checks that you may write.

There are many things to consider when choosing which financial institution is best for you. You must consider what the institution offers and how well it suits you. Although banks and credit unions offer some of the same things it is interesting to look at the differences between them. I chose to compare Chase Bank and Landmark Credit Union and the offers that they make with their checking accounts. First, when looking at Chase, it is established right away that all Chase checking accounts come with online banking and bill pay, mobile banking, access to 15,500 ATMs, and a debit card. These included things can be considered to be very convenient to have with a checking account. Chase also has four types of checking accounts: Chase Total Checking, Chase Premier Plus Checking, Chase

1. Describe the different kinds of financial institutions that make up the US financial system.

JPMorgan Chase operates in more than 70 different countries and operates through 4 primary divisions, consumer and community banking, commercial banking, corporate and investment banking and asset management. Wells Fargo is ranked as the world’s biggest bank by market capitalization and operates in 35 countries, and operates more than 50 different business lines. Out of all these big 4 banks, Wells Fargo has the highest customer satisfaction rating and has a very valuable brand reputation. Finally, the smallest of these competitors is Citigroup, who actually was the largest bank in the world prior to the 2008 financial crisis but suffered losses that dropped it to 4th place amongst the big 4.

Many people don’t know what's the best bank for them in the future, so I am writing this to show what bank will be best for me in the future. I am going to talk about 4 banks that would be good for me. The 4 banks are 4Front credit union, Charlevoix State bank, Huntington, and 5/3rd bank. 4Front credit union will be open Monday through Friday 9:00A.M.-5:00. They are open on Saturday from 9:00A.M. to 1:00P.M. Some of the locations for 4Front are East Jordan, Boyne City, Petoskey, and Charlevoix. The next bank's hours that I’m talking about is Charlevoix State bank. The Charlevoix State bank will be open Monday through Thursday 9:00A.M, to 4:00P.M. Friday they are open at 9:00A.M. to 6:00P.M. Saturday they open at 9:00A.M. and close at noon.

When making a financial analysis on a bank, the type of business it conducts need to be considered. Specialization can lead a bank to operate in different practices and have a varied structure of their balance sheet. If the structure and composition of the bank is not to be considered, financial statement analysis will provide misleading information. This report will investigate the implications of bank specialization on its financial statement analysis.

Or: How many other bank services do the checking account customers use? Do the customers use the ATM service, and, if so, how often? What about debit cards? Who uses them and how often are they used?