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    Gross Balance or Book Balance

    Uploaded by

    Charlene Dana
    The gross balance or book balance refers to the total amount of money a bank has on deposit before adjusting for items that have not cleared or met reserve requirements. Specifically, it is the amount available before deducting deposits in transit, outstanding checks, and reserve requirements from float funds. A simple example is the amount you can withdraw based on your deposits, without considering checks you have written that have not cleared. So your gross balance may be higher than the amount you are actually able to access immediately.

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    Gross Balance or Book Balance

    Uploaded by

    Charlene Dana
    107 views2 pages
    The gross balance or book balance refers to the total amount of money a bank has on deposit before adjusting for items that have not cleared or met reserve requirements. Specifically, it is the amount available before deducting deposits in transit, outstanding checks, and reserve requirements from float funds. A simple example is the amount you can withdraw based on your deposits, without considering checks you have written that have not cleared. So your gross balance may be higher than the amount you are actually able to access immediately.

    Original Description:

    Business Math Excercises

    Original Title

    Business Math

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    The gross balance or book balance refers to the total amount of money a bank has on deposit before adjusting for items that have not cleared or met reserve requirements. Specifically, it is the amount available before deducting deposits in transit, outstanding checks, and reserve requirements from float funds. A simple example is the amount you can withdraw based on your deposits, without considering checks you have written that have not cleared. So your gross balance may be higher than the amount you are actually able to access immediately.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    107 views2 pages

    Gross Balance or Book Balance

    Uploaded by

    Charlene Dana
    The gross balance or book balance refers to the total amount of money a bank has on deposit before adjusting for items that have not cleared or met reserve requirements. Specifically, it is the amount available before deducting deposits in transit, outstanding checks, and reserve requirements from float funds. A simple example is the amount you can withdraw based on your deposits, without considering checks you have written that have not cleared. So your gross balance may be higher than the amount you are actually able to access immediately.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    GROSS BALANCE or BOOK BALANCE

    This refers to the total amount of money a bank has on deposit before adjusting for
    cleared checks or deposits, as well as reserve requirements. That is, the book balance
    is a measure of what the bank has on hand before adding or subtracting regulatory
    obligation and items that will soon appear on its books. This is the term used by banks
    to describe the amount of money available before any adjustment made for deposits
    in transit, checks that have not been cleared, and reserve requirements received from
    “float funds”.
    A simple case of gross balance refers to what is readily available for you to use based
    on your bank deposits.
    Example 10. A check amounting to PhP5,000 that has been deposited today may not
    be withdrawn the next day because it has not cleared yet. If your bank passbook
    currently contains PhP30,000, you may not be able to withdraw the whole amount yet
    because your gross balance is only PhP25,000 since your check has not been cleared
    yet.

    1. Monthly score--the number of points achieved by the insured person in a month,


    calculated by dividing the gross monthly earnings / monthly gross balance or, where
    appropriate, the insured monthly income, which formed the basis for calculating the
    social security contribution to the average gross salary in that month, communicated
    by the National Statistics Institute
    2. The decline in the gross balance of liabilities to abroad in the second quarter
    derived mainly from a marked decline in the prices of Israeli shares held by
    nonresidents.
    BUYING AND SELLING

    LEARNERS MODULE IN BUSINESS MATHEMATICS


    Definition of current increased balance:
    This may refer to the total amount you have to pay that includes penalties or interest
    incurred by unpaid balance from a loan or payment you are supposed to have made
    but was not able to do so on time

    Example 11. As of this month’s cut-off date, the current total amount due from your
    purchases using your credit card is PhP 99,386.59. The minimum required payment
    is 5% of the total amount due. If you pay only the minimum required payment, a
    financing charge of 3.4% of the remaining
    balance will be charged to the next bill. Assuming you refrain from using your credit
    card on any of your purchases for the next 3 months and the financing charge of 3.4%
    is charged every billing period, show your expected monthly bill for the next 3 months.
    Solution: Given the current bill of PhP 99,386.59, the minimum required payment is
    0.05(99,386.59) = PhP4,969.33. If only the minimum required payment is paid, then
    the remaining debt balance is 99,386.59 - 4,969.33 = PhP94, 417.26. Assuming there
    are no credit bill transactions for the next 3 months and only the minimum required
    payment each month is paid, the table below shows the monthly total amount due for
    each of the next 3 months.

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