An institutional client wishes to open an account at a brokerage firm, but wants the positions in the account held at a bank and not by the broker. What type of account should be opened

First, add accounts payable—j. c. hollings and accounts payable—craft bank from the transactions prepared in exam figure 2 to the chart of accounts in exam figure 1. next, open all ledger accounts using the form in exam figure 3. then, post the journal entries from exam figure 2 to the ledger accounts and balance each ledger account. be sure to post the balance of each account (from page 13 of the exam) before you post the transactions you just journalized. 12. after posting the journal entries to the ledger, what is the balance of the cash account? a. debit $4,056.82 b. credit $3,013.90 c. credit $1,042.92 d. debit $3,013.90 13. after posting the journal entries to the ledger, what is the balance of the equipment—store account? a. debit $4,500 b. credit $1,500 c. debit $8,000 d. credit $4,500 14. on may 3, what is the balance of the equipment—office account? a. debit $5,090 b. debit $690 c. debit $4,400 d. credit $5,090 15. what is the balance of the accounts payable—bellhaven bank account? a. debit $1,000 b. debit $4,000 c. credit $5,000 d. credit $4,000 16. after posting the journal entries to the ledger, what is the balance of the supplies account? a. debit $500 b. debit $542.92 c. 0 d. credit $542.92 17. after posting the journal entries to the ledger, what is the balance of the accounts payable—craft bank account? a. 0 b. credit $3,500 c. debit $3,500 d. credit 0 18. after posting the journal entries to the ledger, the opening balance of the p. woodsley—capital account was a. increased. b. decreased. c. unchanged. d. deleted. 19. what entry do you make in the post ref. column of the ledger to show that you posted the transactions from the journal? a. 1 b. j1 c. leave it blank d. 11 20. asset accounts are increased by a. entries to the debit side of the account. b. crediting a liability account. c. entries to the right side of the account. d. adding a credit entry to the account’s normal balance.

The role of the credit department includes: a. evaluating customers' credit applications to determine whether they meet the company's approval standards. b. approving all credit applications in order to avoid losing sales. c. collecting cash from customers. d. following unwritten approval standards for processing customers' credit applications.

What do u want to be when u grow up